Q. 1- What is BIDAYATECH ?

BIDAYATECH is a Reward-Based Crowdfunding Platform that focus on Tech Startups with Minimal Viable Product (MVP )  or Demo Prototype  (DPT) or Beta Testing Stage (BTS), where BIDAYATECH provides a platform for creative and innovative founders with Tech Startups that are faced with a funding gap or Scaling up needs and want to raise money to induce growth or launch product/service or promote their Tech Startup to the public via fundraising campaigns. BIDAYATECH is non-traditional tool for receiving pledges and contributions from backers in exchange for non-financial rewards where those backers are connected with and support your Tech Startup, starting with family, friends, early adopters and fans, as well as the rest of the crowd.

Q. 2- What is the benefits of using BIDAYATECH ?

The benefits Tech Startups get from using BIDAYATECH platform depends on their funding needs and stage of growth. Below you will find some of the various benefits and advantages that can be gained from using BIDAYATECH Platform for Tech Startups fundraising campaigns;

  1. Bypass traditional investment or funding from angel investors and VC
  2. No loss of equity, and non-dilutive funding round
  3. No loan or repayment obligations
  4. No control is lost by the founders over their Tech Startup
  5. Cheaper source of funding
  6. No negotiation or compromise for the fund you raised
  7. Aligned with bootstrapping strategy
  8. Boost pre-money valuation if the fundraising campaign is a success.
  9. Ability to test marketing channels and target audience
  10. Promoting their products or services
  11. Market validation of their products or services
  12. Pre-sell/Pre-order products and services
  13. Gain new followers and customers base
  14. Receive unexpected advice and offers to assist from backers and patrons
  15. Spreading the word around and increase awareness about their Tech Startups
  16. If the campaign unsuccessful, your losses are time and effort and you can restart again

Q. 3- Is BIDAYATECH Free to Join ?

Yes its! Joining and registering with BIDAYATECH  is free to all ! However, to create and launch a fundraising campaign there is a standard platform service fees levied on any funds successfully raised through the platform, (see Q.5 below).

Q. 5- Why should I back a campaign ?

Each backer have its own unique reason to back a campaign, however, the most common reasons are , (1) You back a campaign because you like Tech projects ,thus you help as you want to see campaigners achieve their goals .(2) You like the offering of the campaign and want to be part of it and its success, hence you want it to become a reality. (3) You just simply like the rewards they offer, especially its deep discount of the pre-sell product or service. What ever your reason, the fact that backers and their contribution are very important for the success of a Tech Startup campaign regardless of the amount size or their motive.

Q. 6- What type of campaign funding offered by BIDAYATECH ?

BIDAYATECH offers three (3) types of campaigns for launching a fundraising campaign, thus give more flexibility for Tech Startup to choose the right format to suite their fundraising situation and needs, those types are;

  1. All -or- Nothing (AON).  Goal (amount) must be reached during the duration of the campaign or nothing.
  1. 60% -or- nothing (hybrid plan) (SON)Goal must reach 60% or more during the duration of the campaign or nothing.
  1. Flexible funding- Keep it all (KIA) - Raised fund are kept whether or not goal is reached.

All three (3) format/types are restricting the campaign duration(period) to maximum of 60 days, thus successful campaign funds will be released after the 60 days.

Q. 7- What can Tech Startups raise money for ?

BIDAYATECH platform serve Tech Startups with MVP or DPT or BST, and implement one of the technology categories that are being specified  in the platform as there are over 35 categories in the platform to choose from.

Q. 8- Is it Safe & Secure ?

Backing fundraising campaign on BIDAYATECH platform features the very best in secure payment encryption technology. So, back the campaign of your choice knowing its secured. We implement a variety of security measures to maintain the safety of your personal information, where we'll be using SSL for secure data transfer between servers. Also, user passwords are protected by encryption. Our platform is built using secure Model–View–Controller (MVC) framework, which is known for its security for not allowing direct access to database to hackers as well as it protects from different brute attack, SQL injections.

Q. 9- Do backers get charged ?

No, never. Other crowdfunding sites may charge backers, however, we do not. Backers are charged only the amount they choose to contribute in exchange for a reward with a specific campaign they choose.

Q. 10- Are there any time limits on campaigns ?

Yes, we limit a fundraising campaign to maximum 60 days, which works in the campaign owner favor as it creates a sense of urgency and importance to potential backers. Campaigns that are open ended typically do not do as well.

Q. 11- What if the campaign I backed did not reach its goal ?

If a campaign you backed did not reached its goals, your pledged amount will be refunded with the exception of Keep-It-All (KIA) campaign type, as campaign owner will keep the funds regardless if the campaign reached its goal or not as the campaign name imply.

Q. 12- Who will typically fund or back a campaign ?

The campaign most likely will be supported by the people that are in the campaign owner life, socially and professionally, this includes friends, family members, coworkers, associates, classmates and teammates, and even strangers who may feel a connection to the Tech Startups campaign product or services or they just like the rewards, who we call all “backers”. Its only after the campaign receives the support of the backers can it begin to attract the support of others. That’s why we strongly encourage campaign owners’ representatives to invite family and friends members, their colleagues, associates, to share their campaign via their social media like Facebook and Twitter, Instagram and emails, in short, spreading the news about a campaign including word of mouth is essential as the success of the campaign depend on it.

Q. 13- Who do I share the campaign with as backer ?

BIDAYATECH provide backers with all the tools to share campaign with all their circles from the campaign page. Thus, sharing campaign with associates, colleagues, friends and family members is a part of what makes BIDAYATECH work and is strongly recommended to gain traction. Not only will the people in your social and professional circles support the campaign, but they will also help spread the word to their friends and circles as well and promote the campaign you backed. After all you backed the campaign that you want it to be a successful one.

Q. 14- Do I have to use my social media accounts ?

Although optional, connecting the campaign account to social media is highly recommended and makes sharing campaign with others very easy. social media is a valuable tool if used intelligently and strategically, the impact will be huge for the fundraising campaign you backed.

Q. 15- Can backers contribute privately (as anonymous) ?

Of course, they can. Backers can simply check a box to keep their contributions hidden from public view as anonymous. In fact, you can as a Backer personalize your public visibility, other than being anonymous, you can show your identity and amount, or only show your name without the amount, you can even pledge without seeking rewards, hence, the choice is yours.

Q. 16- What about taxes ?

Unfortunately, we are unable to provide any kind of tax advice since everybody's situation is different and unique. Pledges made on BIDAYATECH are simply in exchange for one of the rewards or perks offered by campaign owner. Thus, every situation is different, so please consult with a tax professional in your country.  With that said, it is your sole responsibility to determine what, if any, taxes apply to any pledges you made through your use of the services of BIDAYATECH as a backer.

Q. 17- How can I share the campaign I backed ?

Every BIDAYATECH campaign is given a unique link that's easy to share on Facebook, LinkedIn and Twitter, or other social media. We also provide you with an "embed" code, which makes it easy to share on your websites or blogs. Sharing the fundraising campaign that you backed is easy using BIDAYATECH’s built-in features like email introductions, Facebook and LinkedIn posting and twitter sharing. none the less sharing with crowd is essential for the success of the campaign.

Q. 18- How do I know it’s safe to back a campaign ?

It's not feasible for BIDAYATECH to investigate the claims stated by each campaign owner, other than the fact that we make sure that all information posted by the campaign owner is verifiable and true, we also provide visitors with the tools to make an informed and educated decision as to who they choose to back and support. While BIDAYATECH and its payment partners do provide a number of safeguards to deter any mishandling.

Q. 19- Does BIDAYATECH ascertain a campaign or owner’s claim ?

BIDAYATECH does not ascertain a campaign’s or owner’s or founders’ claims. All claims and responsibilities of each project are its owner’s. Backers, fans and patrons as contributors to any campaign decide a campaign’s legitimacy or worthiness and decide whether they want to make a contribution or not without any liability or responsibility on BIDAYATECH platform and its owners and management.

Q. 20- What do we use your information for ?

Any of the information we collect from you may be used in one of the following ways:

  • To improve customer service and provide you with information (to respond to specific queries you may raise regarding the fundraising campaign or its rewards)
  • To improve our platform (we continually strive to improve our website content based on the information, comments and feedback we receive from you)
  • Support and empower Tech Startups Ecosystem in GCC and the rest of MENA region.
  • To administer campaign alerts, surveys, or other site features.