Before a project can start crowdfunding it must be verified by Locality. This involves reviewing the project to make sure it’s viable and trustworthy.
What do I need in order to get verified?
The verification process takes on average 2-5 days. It is quicker the more prepared the project creator is for Locality’s questions, which depending on the nature of your project may involve the following. Have these to hand to ensure a speedy verification.
- Proof of permission (e.g. event license, council agreement, landowner consent)
- Evidence of costs (e.g. building work quotations, links to online shop listings, proof of in-kind/offline funds)
- Relevant insurances, policies, or qualifications (e.g. safeguarding policy, certifications)
Before you can submit your project for verification you must fill in all the project details in your project dashboard. You’ll know when you’ve filled in all required fields because a button will appear asking you to submit for verification.
After submitting the project for verification you will not be able to edit your project page, except adding new images and videos. Locality will then email you within 48 hours.
If Locality are unsatisfied with the project proposal they’ll give some feedback, and then send your project back a step so you can make some edits and hopefully rework your proposal until it’s ready for verification again.
Once you are verified you need to set your campaign end date. Check out these tips on how long to run your campaign for.
Why verify projects?
Spacehive does not guarantee projects but, to help reduce risk, all projects are verified to try and establish if they are viable before they start crowdfunding. Verifying projects helps to protect potential funders, makes it more likely projects will succeed, and maintains confidence in the system.