FAQs

What is Rug Beneath My Feet Private Limited
Rug Beneath My Feet Private Limited (“RUG”) aims to sustainably impact the lives of Urban Women by providing a structured platform of online & offline support to mainstream, nurture and shape them into frontline business, workplace and community leaders. The Platform is a Social Entrepreneurship initiative

What is the First Service offering from the RUG Platform
A women centric Rewards Crowdfunding platform – the 1st of its kind in India and the 5th Globally. Modelled along international lines, the Rewards based Platform targets pre VC/ VC stage Millennial and Generation Z urban women entrepreneurs.

What is Rewards Crowdfunding
It is a globally smart and proven way for people to launch or grow a business, create visibility, raise funding and get product feedback from their immediate network of family, friends and a new and larger network of Individuals and/or corporates in the community, i.e. “the crowd”. In return, the campaigner offers “Rewards” to the Crowd. Rewards could be anything; the campaigners own products or services or even procured. These rewards, however, cannot be of financial nature i.e. Equity, interest, options etc.  Globally Donations and Rewards based models are very popular.

What is the Platform format for Campaigns
Campaigns are open to the Public “Crowd” to support for a period of 30 days and if they are not successful within this time, they can be kept open for a further period of 14 days

For what kind of reasons Campaigns can be run on Rug Beneath My Feet Rewards Crowdfunding Platform

– Generate visibility for your business or Products and services

– Validate Entrepreneurial idea or Products and services

– Get feedback on Products and services

– Demonstrate traction to future investors

– Raising funds

As a potential Supporter on the Platform what are the 6 things, I need to know, to encourage me to consider supporting campaigns
1  The Platform has in place a robust Campaigner on-boarding process, rigorous Quality checks and risk mitigation initiatives e.g. capping the size of campaigns

2  Each Campaign has an “Ask Campaigner” button, which enables you to reach out to the Campaigner, with queries you might have about the campaign and rewards. The Campaigner is bound by the terms and conditions of the Platform to provide a response

3 Each Campaign carries a minimum of 2 mandatory verifiable references

You can choose to make a Contribution of any amount as a gesture of Support where a ” Thank You” from the Campaigner would be a sufficient Reward, however other Rewards types carry an indicative Contribution amount

5 If the Campaign you support is a Success, the Platform passes on your Contribution to the Campaigner, the Campaigner provides you with an acknowledgment for your Contribution and delivers to you the Reward you selected. Campaigner is responsible for delivering the Reward to you

6  If the Campaign you Support is not a Success, The Platform returns your Contribution (after deducting 5% as transaction costs) within 30 days of the Campaign closing

Can a Campaign be run for any Goal size
The Platform would like the Campaigners to build a journey of Trust, Quality and Credibility with the Platform and Supporters and therefore has set limits. A Campaigner running a Campaign for the first time on the Platform cannot have a Campaign Goal Size exceeding Rs 150,000 and for the second time the Campaign Goal Size cannot exceed Rs300,000. Thereafter, the Campaign goal size can be considered, on the merit of the proposed Campaign and Campaigner’s performance record on various parameters including timely delivery of rewards

Will all applications to list Campaigns be accepted
The Platform is driven by values of quality and credibility not revenues. While it supports innovation and sustainable business ideas, all applications are put through a rigorous internal scrutiny process. Therefore Applications to list, which do not meet the internal checklist of the Platform will be rejected. The Platform is not obligated to provide a reason for rejection

I have never run a Campaign so how will I put together a Campaign 
The Platform has designed a very simple step by step handholding cum submission system which will be available to you in your Dashboard in the My Campaigns Tab.  This system has been designed to help everyone put their best foot forward in a logical and well thought out manner

If an application to list a Campaign is accepted does that guarantee that the Campaign will go live      
That depends on the quality of your overall campaign work for example the Video, write up, the rewards, images, campaign strategy etc. These will be reviewed to see if they meet with the standards of the Platform

I have an entrepreneurial idea but it needs to be worked on. Can I still approach the Platform
The Platform will be happy to help women entrepreneurs or women who are considering entering into entrepreneurship find their way forward. Please reach out to team@rugbeneathmyfeet.com and schedule an appointment

Will I have to pay taxes on the funds I get from running a Campaign on the Platform
It will be a function of the status of your enterprise. You need to consult a tax expert and get a view. The Platform cannot provide you with an opinion or view on an expert subject matter

Will I have to pay taxes on the Rewards I get by Supporting a Campaign on the Platform
You need to consult a tax expert and get a view. The Platform cannot provide you with an opinion or view on an expert subject matter

Can overseas Supporters support campaigns in US $ or other currencies  
At present Campaigns can only be supported in Rupee denomination

 

 

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