“Finofund is Nigeria’s first online crowd funding platform” – MIKAIRU BLESSING,Project Director at Finofund

Finofund is Nigeria’s first online crowd funding platform” – MIKAIRU BLESSING,Project Director at Finofund (www.finofund.com)

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FINOFUND

Hello, my name is Maiza Favour from the Union of Campus Journalists, University of Ibadan. Can you introduce yourself?

Hi. My name is Mikairu Blessing, a 300 level student of the Faculty of Law, University of Ibadan. I’m currently the Commandant of the Nigerian Red Cross Society, UI Detachment. I’m also the Project Manager at Finofund.

Ok, regarding Finofund, the name has been making some waves recently; can you briefly explain the concept behind it?

Finofund is Nigeria’s first online crowd funding platform. Basically the concept behind it is to provide a platform where innovators can pitch their ideas to potential investors who can then fund these projects. We’ve noticed that there are many people with great ideas but they lack the funds to implement them, so we came up with Finofund.

What kind of projects do you accept and what will motivate people to donate to such projects?

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Finofund accepts all sort of projects; technological projects, agricultural projects, educational projects such as academic research, entertainment projects such as short films and publishing projects.

You said Finofund is Nigeria’s first online crowd funding platform, what about give234.com?

The major difference between Finofund and give234.com is the fact that the latter funds only charity projects and Finofund does not. There’s a reward system which allows the innovator to offer something as a reward to potential backers. For example, a film director can offer CDs of the completed film to his backers. This is a major motivation for people to donate.

And what are Finofund’s value propositions/Unique Selling Points?

Finofund’s unique selling points include the fact that it is uniquely Nigerian so it has a Nigerian payment gateway, bank donation system, use of phone short codes to make donations which will soon be added to the website. Also, there is the reward system for backers which make them a big part of the project. In addition, the cost of using Finofund for innovators is relatively low.

So, when will the platform be launched?

 

The platform will be launched early next year. There’s currently an ongoing competition,’’The Finofund Project Competition’’ which is currently accepting entries. The winners of the competition will herald the launch. The Finofund Project Competition is directed at innovators. They will be required to open accounts on the website www.finofund.com and then upload finite projects they have already started working on. For example, a programmer who is currently working on a new app.

Hmmm, what else do you have to say about Finofund?

Finofund is actually looking for volunteers now. We are looking for business oriented and creative people to fill some positions. We are looking for bloggers, advertisers on social media etc. Volunteers get a chance to improve their résumés and hone their business skills, lots of souvenirs and freebies and exceptional volunteers will be offered a full~time position at Finofund. You can visit the website (www.finofund.com) for more information.

This seems to be a big project, how do you balance between being Finofund’s Project Director, Red Cross’s Commandant and a law student?

Managing everything has been difficult but interesting. Basically what I try to do is schedule my time so I give enough time to each and nothing suffers.

So, what’s your last message for Nigerian youths?

My message for Nigerian youths is that they need to step up and take leadership positions in their community. Also, they should take advantage of opportunities that they get.

You’d like to make any shout out?

Definitely, I’ll like to send shout outs to those that have been part of Finofund in one way or the other; Oredola Ibrahim, Tojola Bolaji, Omitogun Bolaji, Joel Tolulope, Opeyemi Adebari, and Aroke Joshua, you guys are wonderful!

Thank you very much!

The pleasure’s mine!

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