FAQ

Frequently Asked Questions (FAQ)

What are the eligibility criteria?

• Post-revenue Startups (in special cases innovative ideas) addressing a gap in the market
• Have been operating in the market for at least six months (exception: innovative ideas)
• Tech-based and tech-enabled businesses are encouraged to apply
• Startups looking to scale up and expand
• Have an effective business plan to generate revenue
• Be open to raising funds for its business based on donation or equity.
• Has the potential to provide employment opportunities
What is Invest In my Idea? How does it work?

Invest In My Idea is a Crowdfunding Platform that connects start-up owners, mentors, and supporters, to raise funds for business ideas through online financial contributions.

We would be happy to see the platform as the main instrument funding small businesses and start-ups in the Kurdistan Region of Iraq and provide diverse investment options to interested investors.

A community will be created around the crowdfunding platform through awareness campaigns about crowdfunding as an alternative way of support.
What are the fees? Is there a charge?

There is no fee, Rwanga Foundation will not acquire any amount of fee for providing this service to the entrepreneurs in Iraq.
How does the all-or-nothing crowdfunding model work?

If you reached the target that you set, you can get the amount of money that you have raised but if you don’t reach the targeted amount all the donations will be refunded to the donors.
Who can create projects?

anyone who has a valid business idea and wants to raise funding for his/her startup can create a project on our website
Where do founders come from

Founders come from all over Iraq, we are accepting projects regardless of nationality and location.
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What is verification? How long does it take?

It depends on the project; it might take between one week to 3 weeks.
What do I need to do before launching my project?

Before launching your project, you need to have a well-prepared business plan, financial model, marketing plan and good photos or prototype of your business to be showing on your profile on the website.
How should I present my project page?

After reviewing your project, it will be presented and shown on the website.
How do I receive the funds I raise? What payment systems do you use?

You will receive the funds to your bank account, we will use NassWallet system for the payment.
How long should I run my campaign?

The duration of the project depends on you, so you must set a time carefully for that. On the Other hand, however, maximum allowable time for a campaign to run is (60 days)
Can projects raise more than their goal?

The projects can raise more than what they have planned for.