The requirement to hit your fundraising target will depend on the funding model you have chosen. Spacehive has two different funding models that you can select at the start of your campaign:
- ‘Keep What You Raise’: No, you don’t need to hit your target to receive the funds.
- ‘All Or Nothing’: Yes, you need to hit your target to receive the funds.
If you receive a pledge from a Partner, such as a local authority, then you must hit your funding target in order to receive it. Partner funding is tied to the specific outcomes of the project so if you don’t hit your target, the Partner pledge will be removed and you will receive the remaining amount.