Ulule, crowdfunding and the success of local businesses

A project idea, a new collection or even a startup idea has been floating around in your head for some time, but you are wondering about financing? Crowdfunding may be your solution.

Although there are several types of crowdfunding, in general, this concept is based on the contribution of individuals who contribute to the financing of a project in exchange for consideration. The platform through which the project is presented charges a percentage in administrative costs. Thanks to social media, this approach has been gaining popularity over the past few years.

Signé Local recently joined forces with Ulule to promote local purchasing through crowdfunding initiatives. The next launch party will have the theme “Made here” and will highlight companies that manufacture their products locally.

Why use crowdfunding?

Before the advent of crowdfunding, fundraising usually took three forms; we used our savings, we solicited those around us or we applied for a grant or loan from a financial or governmental institution. Crowdfunding offers an interesting alternative. This approach allows a certain autonomy and it also constitutes an option when the conventional means of financing are not accessible. As highlighted by the National Bank (partner of Ulule), crowdfunding is also a marketing tool that allows you to survey the market and build a community around a project.

But beware! It is not enough to set up a beautiful project and launch it. From the start, it must captivate people with its originality or its particular history. Also, as the campaign progresses, the project instigator must keep his community informed of the progress of his campaign and also thank people for their support. Once the campaign is over, the project manager must return the promised rewards to the contributors. A crowdfunding campaign therefore requires extensive preparation, sustained monitoring during the campaign and finally a final phase of work after the objective has been reached.

Crowdfunding platforms are numerous and their operation varies greatly. Some guide the project leader from the beginning to the end of his campaign, while for other platforms, there is little or no user support. The success rate of projects launched without support is only around 10%.

Recently, I embarked on the adventure of a crowdfunding campaign with my company Mousseline . Quite frankly, I knew very little about this when this approach was suggested to me. After simmering the idea and with a little reluctance, I went for it. I decided to go ahead with my project after seeing the expertise and support offered by the Ulule team.

The challenges of a crowdfunding campaign

Although the idea of ​​setting up a crowdfunding campaign may seem very interesting, you have to be prepared and aware of the challenges of such a project. Are you comfortable with soliciting family and friends, your social media followers, or even strangers to ask them to contribute to your campaign? Are you ready to invest one, two or three months of your life to prepare your project, communicate almost daily with the public, your potential contributors and the people who have supported you in your adventure? Finally, are you able to deliver your counterparties on time? Vanessa Isabelle-Roy, founder of Fotofibre , faced a personal challenge when she decided to go ahead with her own crowdfunding campaign: "For an introverted person like me, it's quite a challenge to do this kind of project, because you have to be more than present and 100% invested for the duration of the campaign. You have to mix up your contacts so that as many people as possible see the new project hatch. It is therefore, for my part, a surpassing of oneself with its ups and downs”.

Why Ulule?

Unlike some platforms where any project can be launched, Ulule carries out an in-depth evaluation of the projects submitted. Those who are selected benefit from support and guidance before, during and even after the campaign is over. It is for this reason that the projects overseen by Ulule have a success rate in nearly 70% of cases. It is obvious that for a project to be a winner, it must be well thought out and very well structured. It must be attractive to potential contributors. In order to put the odds on his side, a project leader via this platform must therefore agree to be advised by the Ulule guide assigned to him.

Sonia Roy, from SoMeow, retains several positive points from her campaign experience with Ulule. “It's a method of financing that I didn't really know and it reassured me to know that I could speak to advisers so that my project was optimal”.

Ulule's "added value": Pitch evenings, Pitch Night

In addition to offering personalized support and international visibility to its project leaders, Ulule organizes competitions as well as numerous events intended to promote the brands and products of its participants. These publicized events (such as Pitch Pitch-Lance evenings) are in themselves an effective way to promote ongoing Ulule campaigns.

Since August 2017, the Ulule team has launched 5 Pitch evenings, Pitch-Lance to increase the visibility of participants in addition to offering them scholarships. Among these five cohorts, several Quebec businesses that are members of Signé Local have successfully tried their luck, thereby offering businesses that manufacture locally one more chance. For example, C. Glasses , during the “Edition 101” evening, was able to reach 103% of his goal with the aim of opening a professional workshop; La Lichée reached 112% of its goal to open its first store ; So Meow garnered 256% of their goal to sell their pre-order product, and Laucolo garnered 375% of their presale goal . Other members of Signé Local who have successfully used the Ulule platform include 94 Celcius ( who wanted to meet Guatemalan producers ), Beurd ( with the aim of making a first "family" collection ) and Mousseline ( in order to create a new collection ).

So, this is crowdfunding for me?

Embarking on a crowdfunding campaign is still something to think about. However, if we put in all the necessary effort, the result will certainly be positive and the challenge very pleasant and rewarding. Personally, I loved my experience. I was surprised at the enthusiasm generated by my campaign. In addition, this approach allowed me to test the public's interest in a new collection.

Finally, it should be noted that a crowdfunding campaign is not only advantageous for the project leader. Indeed, the contributor may have several reasons to support a project, because he derives benefits from it. The consideration offered may be an exclusive or discounted item or service. It can also take the form of a social gesture that benefits a group or a community. Beyond the satisfaction of encouraging a small business, an organization or a creator, the contributor can also have the feeling of being part of the success of the project he has supported.

For more information about the Ulule platform, please visit their website . To live the experience of a Pitch Pitch Night launch, come and meet us at the “Fabriqué icitte” evening which will take place on April 17 ( for more information, it's here! ).

Reviewed by Catherine