Clarendon Entertainment announced today a new fund that will help filmmakers achieve their campaign goals on Kickstarter and Indiegogo. By providing “gap funding,” the company will greatly increase a filmmaker’s chances at crowdfunding success.
Gap funding is a pretty simple concept: Clarendon guarantees that a project creator on Kickstarter or Indiegogo will successfully raise their campaign goal by the last day of the campaign. It does that by simply funding any deficit between (i) the campaign goal and (ii) the campaign’s total pledges. Projects should, among other criteria, be in the film/video, music, publishing (i.e., writing), transmedia and theater categories and have minimum/maximum goals of $20,000/$100,000. The company’s mission is to fund up to 50 projects annually.
Many content creators choose Indiegogo over Kickstarter because of Kickstarter’s “all-or-nothing” policy, where project creators risk getting nothing if they don’t meet their campaign goals. Gap Funding can eliminate that risk if you choose to go the Kickstarter route.
Even for those that choose Indiegogo over Kickstarter, gap funding will save you the higher fee that is charged if you fall short of your goal. Gap funding locks in the lower fee, which means more funds for your project.