 So thank you very much for watching till now and right now it's time for the moment of truth If you're an entrepreneur out there, if you're a if you're an artist, but you don't have the capital This is the interview for you. We have guys from the Thunder fund a crowdfunding platform and they're here to share the story with us Karebun San. Mm-hmm. All right, so who's going first? Maybe the lady can go first Just look look at the camera is changing to the eyes right there and introduce yourself Thank you so much for having us. My name is winter winter Mudeau I am the campaigns and community manager for Thunder fund I have a background in operations and projects and a bit of a medical background a bit of a medical background All right, I wish you could get into that But time is going on All right, yes, I'll do the next Yeah, hi everyone, so I'm Matt. I first got into crowdfunding at Kiva in San Francisco a few years back They've moved over 1.5 billion dollars of microloans across the world Something that fascinated me it moved me to Kenya to work in microfinance and then later joining M. Changa Which I'm now the general manager of M Changa, which is a social crowdfunding platform Mm-hmm, and recently this year. We've launched Thunder fund into Kenya coming from South Africa All right, wonderful. Karebun San. Welcome to one and she has Mike introduce yourself. Your camera is Number three Yeah, thank you for having us. My name is Carol Mugura, and I am the MD and creative director of Kavaro Kavaro is a Kenyan fashion brand that deals with women's apparel women's apparel All right, so you're dressing cover right now. Yes You're looking good in Kavaro Karebun San. So you're a beneficiary of the then yes, all right You'll be telling us more about that, but we'll head straight entered the general manager at M Changa and Then find you Also the general manager. All right, so when y'all's do you haven't taken we manage? All right, so what is crowdfunding? crowdfunding is it's quite simple. It's Bringing a project or a need that has a financial requirement Bringing it to a crowd of people who are willing to put money towards that need So raising a large amount through a lot of people rather than one institution. All right, so what is the difference between crowdfunding and and Maybe she can tell me this because the second word is is a Rambe. What is the difference between crowdfunding and Harambe? Well, essentially, it's the same thing. It's just that crowdfunding is online. It's online. Yeah And with a Harambe, you're mostly reaching out to your family your friends But with crowdfunding you get a chance to reach to a network larger than yours because it's online All right, so maybe you can help me translate Harambe it for him All right, we'll figure that out. So The there's a very thin line between between the two. All right. So a sofa in Kenya. What is the reach like? Sorry, what is the reach like in Kenya? How many people have you reached so far? We have been in South Africa since 2014, but we recently expanded into Kenya We officially launched 27th of September. So we launched with 15 campaigns We had a lot more registered that are going to go live as we carry on but we went live with 15 that are doing great. We have very many Categories represented this fashion. There's events. There's social causes Quite a huge a wide range of what you would not naturally Go for in a Harambe. So It's just it goes to show how crowdfunding is Open to everyone. All right. Yeah If I can change the question a bit, it's not about what's already here It's about why here now If we look at Mchanga for one over 500,000 mobile contributions And if we look at social media uptake Kenya is one of the strongest in Africa. We look at payments There's already digital platforms. If you look at e-commerce, it's already moved to Instagram Facebook So all the elements and even one other and it's been successful in South Africa So it's a matter of we're piloting in Kenya right now. We wanted to expand and we want 2020 to be a big year For for the Kenyan creatives. All right. So do you have like? Do you have like particular people you're allowing or to to the platform? crowdfunding is for Well on Thunderfund. It's for anyone with an idea that is seeking support to Grow it or an entrepreneur who already has a business or wants to scale up Basically, we're here to support sustainable creative ventures. All right sustainable creative ventures. So I should not go into Thunderfund Thinking I can raise money to go to college or something well the main focus of Thunderfund is to Create like I said sustainable creative ventures What we're used to and I know you can tell is The Harambe where we just we donate for social causes and like weddings funerals for College, but right now what we'd like to focus on is growing businesses and entrepreneurs. All right Yeah, let's talk to a business owner that benefited that benefited from the Thunderfund How did you get to know about Thunderfund first? So I was in a program that's Like a booster program Fashion program called fashion product lab at Meta And so what they they do is that they bring in different experts in the industry to talk to the participants And so Matt was invited. There's a guy who was supposed to do the funding Segment, but he didn't show up But I think that was God's doing so that we could meet Matt And so Matt did a presentation like a 30-minute presentation talking about this platform that was launching in Kenya and for me that moment I thought about the collection that I've been waiting to do for such a long time But have not accessed funds to do it because doing a collection a fashion collection is very capital intensive and as we know entrepreneurs are not quite the favorite of banks or Institutions which lend money because we are considered Yeah, we are considered very risky And so when he said that we can actually they have this platform where you can Leverage on your networks to raise capital like I Have people who know my journey as a fashion designer and I've been following my journey probably they would be willing to Take part in being part of this fashion story and fashion Company and so I I started I Registered and started a project in fact on the day they were launching on 27th. I That's the day I finished my program my project because I like I mentioned I was doing another program Which was also very intensive and so yeah And I invited my friends and my family told them this is what I'm doing and so far the project is the company Still going on I have seven more days to go and it has been tremendous The the the uptake and the response people are like yes, I've been following your your journey and here's my money Yeah, you go do what what you're aiming to do with the collection So this can definitely work in this country for me I think it is the best gift to entrepreneurs and especially in the creative especially when banks consider is risky All right, so what is what if what is what is a step city to to get to where she's gotten to if I'm An artist out there. I'd like to raise some funds. What do I do? What is the first step for me? I? Think it firstly. It's really important. You you have your idea Very well crafted and packaged you can't just raise money for ten different projects at once You have to have one project one time period one amount you have to have So that you can articulate it and so that it makes sense to who you are and what you're trying to do It's not just about getting funds. It's about living your passion achieving your dreams We're living in a time when the creative industry is undervalued, but it brings so much to the economy Just like sports it brings us together Kenyans seeing Kenyans being successful rather than focusing on our differences and Creativity at the heart of an economy has the chance to solve a lot of social issues So we believe if the banks aren't going to invest in creatives Individuals can and they will and they can support you from Kenya They can support you from the US or anywhere in the world So we're just providing a platform to put two and two together and hopefully raise some money for the people who deserve it All right, I get that. All right. So thunder fun has a website All right, so the first step is to go to the Level Level you don't thunder thunder fun dot-com. Yeah. All right. So Somebody who's watching us right now. What are some of the requirements? What are some of the things that you require from an artist before they can proceed to raise a cup top? Okay First need to register. It's quite simple. It's gonna take a minute. Just your name your email or password then You need to have put a picture of your campaign and tell your story You'll send your story in a video This picture is a profile picture a picture that represents your project. Oh, if you're a fashion It could be a model in your fashion It can be your face if you If you're the cover of your project, then you also need to tell your story you can tell your story in a video well, it's It's not a must but that's the primary contact people have with your campaign So you need to create a compelling very brief video Of your journey and what you want to do and what you need people to help you Then like you said a very well written Brief of your of your campaign and what you want to accomplish then Rewards it's a reward based card funding platform So you need to decide what you'll be offering to your contributors Yeah, you need a minimum of three something an incentive. Yes. All right, so you need a minimum of three. Yes, all right Up to ten you can have up to anything. It could be retail It could be recognition or it could be access. So retail is actual merchandise t-shirts Kavira is selling is offering Men's shirt men's shirts Yeah, it could be that it could be that if you're producing actual Actual materials then it could be recognition of social media shout-out certificates Or access if you're a musician you can give tickets to a concert Backstage access So it could be one of those three just have to be creative whether creative know your crowd know who you're targeting Then you'll be able to structure that according to your your audience and then after the approval So you're gonna submit that we'll receive it guide you on the same If it checks out we verify that you're who you say you are and your project looks legit And then you'll be you'll be live you'll be live. Yeah. All right, so Is that provision to share these links to other social media platforms? Yes, all right Yes, once you go live you get a link that directs people to a page. You have a full page of your campaign Yeah, it's shareable on all social media. All right. Yeah, whatever currency is accepted Any currency from across the world. Yes, we do receive payments locally by a PESA There's credit card. There's PayPal so you can receive international Contributions all right. Yeah, what if I want to do them one better the guys who are going to be given me money I like to give them a stick in the company. What happens? So we're working on a new innovation, which would be a revenue share model So rather than giving someone debt, which they can't pay in the first few months They're just gonna be in a debt cycle rather than getting equity, which is going to be pushed off into way into the future It will work much more like a royalty So you're the investors who gave you money initially will get their money back according to your ability to sell the product So that's something we've been working on and we've had a successful case in South Africa with a craft gin They managed to raise seventy thousand dollars. So that's seven million shillings To they had a product in the market already you could buy a thousand bottles and Once they've sold them. They'll give you your money back plus 25% return. So that is an example Yes, and three months it took them to get that return. All right So you're working on a model for people like us people were more Well, we like to bring everybody else over. All right. I feel that I feel that so what makes you think the Kenyans a story is unique But do you think Kenyans are ready for this? Let me let me put it that way Yes, I think as I mentioned before with with social media with mobile payments with everything that's happening right now I think Kenyans have been ready for a long time. They've just been waiting for the platform to be here. I Personally believe in the Kenyan creativity to find a way of how it will work for them in a unique way Even with them jungle it wasn't done the same way as international models We have to learn the market and adapt it for the local needs. So we plant to the the same thing Right now you can come in and register even if you're not quite sure how to do it We provide some level of expertise from our experience to guide you on how to set up your campaign How to reach out to people and then over time as we're learning the behavior. We're answering that question What's in it for me? All right, I like that. What did you learn in the process of just getting into Thunder fund raising the funds and Interacting with the people who are financing you. What did you come up with in the process in terms of knowledge? I think for me It was more like people want to know what you're doing and how you're going to do it and they're willing to To back you up if they they know what you're doing. So for me it was communication So always keeping tabs of this is where we are at. This is how far we've gone on screen short event how the page of The campaign just to show people that they're like how many backers there are how much you've been able to raise and so Keeping the communication open all the time. That's one thing that I have learned that people will appreciate People will appreciate when you make the part of the project. Yeah, all right What are some of the tips you can give somebody who's getting onto this platform? I downloaded this app recently I get tips on how to make my profile Better and reach more people. So what are some of the tips you can give people who are going to be joining Thunder fund because I know We're going to have a bunch. Okay One of the best things you can do is just be authentic be yourself You know your product best, you know what you have to offer So just be yourself Research shows that people who share their personal stories in the in the video or in the story on the page We get a lot more contributions because people connect with you people are giving to so video is better than a writer number one You need both right, but you need to be to share yourself and Be be real. All right. Yeah, so be real be authentic. That is a tip you can give What is it? That's just one that is one tip you can get. All right One mistake a lot of people make They come in expecting free easy money crowdfunding is not about that It's about bringing your community together around a project you believe in and to do that Well, you need to allow some time to prepare. Okay, Carol is the exception because she registered on the same day She went live She had been doing this for a while, but she knew her product. She knew herself. She knew her network So planning like in advance is is really essential They say there's a 30% rule before you go live You should go to your network and see if they would give at least 30% of what you want to raise Then once you go live, you can't fail Just going live and expecting money to come without even telling people or just putting a message on Facebook And prepare the people that you're you're first target. Yes What's up is probably the biggest platform in Kenya in terms of giving so reach people directly on what's up? Create awareness through Facebook. So keep them updated on Facebook, but ask them to contribute on what's up It's not as big in other parts of the world. You mean what's up? Everyone's on what's up here. It's still big but here it's like a guaranteed channel that people use There's groups as individual shots. It's like commonplace All right, and then the final thing is after your campaign is to keep people up to date Thank them for their contributions. Make sure you've given them enough that they'll come back for your next campaign Mm-hmm So however successful your first campaign is your next one can be two times five times bigger As long as you look after your crowd and you foster that over time so you don't come across as someone who's begging for money you're actually Offering them an opportunity To have impact and to be part of your project So it has to be seen as a win-win situation not to ask for money situation So those are very good tips three good tips right there make people part of the journey. Yeah, that is one Be authentic and a video is Is a blast for you. All right a mistake that most people make is that they go in Look to look for money to look for easy money, which is not always the case. You need to plan plan plan before you do it All right, so how can they get you guys online? From the website to the other social media platforms So registration is just www.thunderfund.com Thunder with an a and we're on If you start that into a Facebook Instagram you should find us and then from the campaigns themselves There's social media widgets which people are sharing to push it onto other social platforms So when you see someone else sharing you'll also come to Thunder find All right How can they find you online? Okay, the fashion brand in particular? Yeah They can find me both on Facebook and Instagram at at cover off and also on Thunder fund After the Thunder fund then there's a backslash then cover off and you'll find my my project They are my campaign there and you're welcome to find the project. What would you tell somebody who's Canyon and is not buying Kenyan products? You should buy Kenyan products Yeah, by Kenyan products and build Kenya by Kenyan products in bulk and thank you very much How can they find you online? Oh? You do have a Yeah, personally, if you don't mind if you'd like to get some more followers They can find you at the moment. I like that for sure. All right. All right Your last remarks to the viewers as a representative of Thunder fund You could pass it back Creatives are a very big part of our economy and the part of the solutions that we need so We need to support creatives and if you're a creative don't feel discouraged I know it can be excuse me can be tough with the funding stuff for sure. Yeah, so keep creativity alive and You're welcome to join Thunder fund. All right. Yeah as somebody who's traveled Who's Who's a guest here? What can you tell the Kenyans? That are watching us right now, especially our crowd is is predominantly the youth and the Kenyans was saying that it's very tough To make it in Kenya right now. I Think I'm saying something people already know but as a guest here as you say I have constantly been surprised by The level of creativity and the level of hustle in Kenya and so yes, two things which are really key And then if it's not just about what's happening in Kenya. It's about showing the rest of the world what exists in Kenya So the more people know there's fashion brands like Carol here The more the world will see our Kenya is a great place to come and a great place to buy things from so we want to build that community Locally and internationally. All right, so for the Kenyan youth. It's believe in yourself Live out your creativity and give it a try just come to the platform register See what happens. All right, so the creativity is that we need to put it out there That is what you're saying. Thank you very much guys for coming through to why in the morning We appreciate you and I hope the beneficiaries of Thunderfunder going to become in for entrepreneurship Tuesday All right, I sent in Santa we've come to the end of entrepreneurship Tuesday on why and the morning tomorrow We have guard stock and tomorrow. We are going to be Celebrating the Queens in the world. So be sure to celebrate with us. Thank you very much very much for tuning in from 7 a.m To 10 a.m. My name is by Moses or it's by more social media We still have a lot of other programs lined up for you