UPEUROPE.COM site allows to launch crowdfunding campaigns through which raise funds from the public to develop projects in the business or nonprofit fields.
UP, through its platform, supports innovators, professionals, researchers, professors, universities, companies, organizations, associations, nonprofit organizations and foundations in setting up campaigns to raise funds to carry out projects whose purpose is to create economic or social value.
Users who finance a project may receive in return for their support real or symbolic rewards (reward or donation crowdfunding) or the money back (peer to peer lending) with or without interests.
UP S.r.l. does not make any form of financial intermediation nor manages amounts of money, his only goal being to provide a technological system that facilitates the meeting between those who need to raise money and those who want to finance and support a project or a continuative campaign for social purposes.
To users and organizations that collect the necessary funds to implement a project, UP applies commissions provided in the "price of the service" section. No charge is applied if the designer does not collect the required funds and no commission is applied to lenders. The "nonprofit" projects are being helped by UP by applying a commission smaller than the one provided for "business" projects.
Registered users can:
- create a project in order to raise the necessary funds to implement business or social purpose initiatives.
- support a third party project with an economic contribution.
Users are identified according to their target in:
- designer users;
- funder users (or supporters).
The choice of model of crowdfunding (reward or lending) to apply for his own fundraising campaign, that is the choice of rewards rewards or the repayment plan to offer to the supporters depends solely on the designer.
Users supporters decide themselves which project to support; in this respect UP exclusively offers the means to connect the "designers" with the "supporters".
UP partners (universities, institutions, companies, non-profit organization, etc.) can:
- sponsor a project validating it explicitly by a review;
- oversee the creation of projects carried out by members of their organization and monitor the development of the campaigns.
The heart of the UPEUROPE.COM service are the "Projects".
It is defined "project" what published on the site by users (designers) in order to obtain financial contributions from users of the portal (supporters or funders) to its implementation.
Projects can be made by users over the age of 18 years living in Europe or by companies and organizations with registered offices in Europe.
Supporters of the projects included in the portal can make payments to fund the campaigns from all over the world.
Designers can publish their projects in order to launch fundraising campaigns in two different sections of the portal:
- projects creating innovation and economic value are to be published in the UP-BUSINESS section (business.upeurope.com);
- projects designed to create social value are to be published in the UP-NOPROFIT section (noprofit.upeurope.com). The UP-NOPROFIT section also allows continuous campaigns whose purpose is to finance recurring activities in the social area.
In this last section projects can be published by individuals and organizations such as Non-profit organizations, associations, foundations, cooperatives, consortia, bodies of a private nature with legal personality, public bodies, companies for which the statutes provide for the performing of non-profitable activities, parties , movements and trade unions, professional associations, voluntary and non-governmental organizations.
NOTE: a third category of crowdfunding is reserved for INNOVATIVE STARTUPS and SMEs recorded in the appropriate registers in Italy. Such projects foresee that funders become shareholders of the start-ups. This mode of crowdfunding, called "Equity Crowdfunding", is subject to monitoring and authorization by Consob (National Commission for Companies and Stock Exchange). These projects will be admitted and managed by UP on a separate portal provided Consob prior authorization.
In order to be accepted a "project" must have a clear purpose and a specific goal to achieve in a determined time and as a result will have to produce a significant change.
The project may consist in the creation of a prototype, a research, a patent, a product or a service whose purpose is to create economic value (by its marketing) or social (to help or protect those who need it or make available something useful and valuable to humanity).
NOTE: : the NON-PROFIT section allows to raise money also for processes other than projects. Process means continuing needs in the social area (such as running a hospital or a canteen for the poor). Even such campaigns must have a clear purpose and a specific objective but can last over time as long as there is a need for funding.
A generic cause (such as helping the poor) or a personal goal (such as home renovation) are not considered projects. UP EUROPE can not be used to raise funds for life causes or projects.
"Designers" can not:
- offering financial benefits or financial incentives to supporters (except the return of the money received in case of loan campaigns (peer to peer lending);
- offering rewards not directly related to the project;
- promising part of the funds collected or future income or revenues;
- offering rewards based on large quantities.
- projects whose purpose is to buy properties unless that they are directly related to the business or social project or are necessary, and not accessory, to the completion of the project;
- projects offering rewards that include: alcohol, tobacco, drugs and drug paraphernalia, genetically modified organisms, content relating to pornography, offensive material or any object or content of a political nature, participation in contests and lotteries, gambling, weapons and weapon accessories and any object or content that is potentially harmful, dangerous or violating the law.
The description and presentation of the projects must be clear and not misleading regarding their state of development; it must show actual proof of their current status.
Simulations or photorealistic renderings that could be exchanged for finished products or real events are not allowed, as well as any content that might mislead the users about the real state of progress of the project and its truthfulness.
If there is a prototype or other element capable of demonstrating the future functionality of the product, the designer will have to explain in detail how the project will be and how could differ from the prototype.
The decision whether a project is eligible is at the sole discretion of UP.
UP performs checks to verify that the published projects comply with the "terms and conditions", with the present "guidelines" and with the law. Each project must be identified by a main category and a sub-category among those accepted by the site.
UP does not check on the features of the project declared by the designers or the accuracy and completeness of information on the projects and their progress status; in the same way UP does not investigate the ability of designers to complete their project.
Therefore the truthfulness of the provided information and about the completion of the project, and any other promise and statement published on the portal by the designers is the sole responsibility of the designers themselves.
UP is available to designersand partners to assist them in every stage of the preparation and presentation of the projects, to help them to set rewards or the most suitable repayment plan, to produce video and appropriate means of communication, to create a business plan, etc.
Users are invited to contact UP for questions, tips and requests before setting up a fundraising campaign, describing the project or applying for its actual publication (submission).