What is iCareer Fund?
Who can use iCareer Fund as a "Project Owner"?
iCareer Fund is open to entrepreneurs / project managers all over the Middle East.
—You are 18 years of age or older.
—You are a permanent resident of one of the above listed eligible region.
—You are creating a project in your own name, or on behalf of a registered legal entity with which you are affiliated.
—You have an address, bank account, and government-issued ID based in the country that you’re creating a project in.
—If running your project as an individual, the linked bank account must belong to the person who verified their identity for your project.
—You have a major credit or debit card. (Preferable)
*Parents and teachers can launch projects in collaboration with children under 18 only if the adult registers for the iCareer Fund and payments accounts and is in charge of running the project itself.
For project managers: What is the identity verification process? Why is it required?
Identity verification helps to ensure that there is a real person behind every project on iCareer Fund.
Being a creator is a serious endeavor – verifying that you are who you say you are strengthens the integrity of the iCareer Fund system. It also protects you by preventing someone else from running a project under your name.
What are the required papers?
- National ID copy (front & Back) (or) Passport copy.
- Proof of residence.
- Bank statement in your name (Will speed up verification process).
I have a project idea ... Can I add it here?
Yes, that’s rather the point. If you have a start-up idea and lacking the funds, then you are at the right place. At iCareer Fund you have the perfect place to showcase your idea and actually start collecting funds for it.
What are some things I should do before launching my project?
— Make a detailed budget of your costs. Use this to set your funding goal.
— Check out other iCareer Fund projects for inspiration!
— Brainstorm with friends about what and how to make your project page stand out.
— Consult with iCareer team for pointers & tips.
— Have a plan for spreading the word about the project. (Social Media – Email Campaigns – etc)
Running a project is a lot of fun and a lot of work. Make sure you’re ready before you launch!
I’m a normal user ... I see a project i want to own part of, now what?
If you see a project you want to share in, simply browse to that project and click “Fund”, choose one of the packages available for that project. You can pay via Credit Cards / Paypal, you will receive an instant “Receipt”, this is an official proof of your partial ownership.
Each project has a “Goal” and “Ending Time” to collect this financial “Goal”, if it reaches on time, then the project manager will meet with participants to kick-start the project, this meeting will be in the presence of a lawyer. Each project has its own terms & conditions.
What happens if the project didn’t reach its financial goal?
For example the project has a window of 90 days to collect funds from the masses, and the 90 days have expired without collecting the full amount, the participants will be REFUNDED in the same manner they have paid. iCareer takes 100% full responsibility for refunding the allocated funds. In this case the project is deemed “Unsuccessful”.
The required funds are collected for the project i participated in ... now what?
Great … The project manager will meet with the project participants in the presence of a legal entity to formulate how will the project continues. The terms and conditions will be posted on the project page for everyone to be aware exactly in what he/she is participating in.
Alway put on mind, when you “fund” a project, then you own part in this project.
I live in a city ... and the project will be held in another city, can I still join?
Yes, iCareer Fund is global, it doesn’t matter where you live, you can send/receive money securely online via PayPal or via bank wire.
I see a project I would like to participate in ... Do I have to pay in "Dollars"?
No … Payments can be collected in local currency, iCareer will exchange at market price if need be.
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