To demonstrate a credible budget, you need to have accurate costings for items, backed up by supporting evidence
As part of crowdfunding on Spacehive, and hopefully getting people to back your project, you need to present a credible budget that is accurately costed. This is so that when you hopefully succeed and receive the funds, you can deliver the project as you have promised to do so. What we don't want to happen for example is that you underestimate the cost of something, meaning that despite raising funds, you can't deliver the project because they're not enough. We therefore ask that you provide evidence that your costs are accurate. The larger the cost item, the more scrutiny is placed on this.
Next to each cost item is an box where you can either write notes, or upload evidence that backs up the costing.
What types of evidence should I upload?
- The most common forms of evidence come in the shape of a quote from a supplier. This could be an emailed pdf, a screenshot of an email or a scan of a hard copy of the quote.
- If you’re buying products online, you could include a screenshot of an online store selling the product, clearly showing the price. It’s best if you attach a pdf or image file.
- Invoices are also accepted – but only if they haven’t yet been paid! Retrospective crowdfunding isn’t allowed on Spacehive.
What types of evidence aren’t accepted?
- Please don’t upload a spreadsheet or budget document that you or your team has put together. If you’ve entered the cost details yourself, that doesn’t prove anything to us!
- Outdated quotes. If your quote is from a long time ago but you are sure it’s still valid, please provide further evidence to support this.
We do appreciate that in some circumstances, exact costs and supporting evidence is unattainable, so please use the text boxes provided to explain your situation and this will be taken into consideration during the verification process.
Please note that any supporting evidence you upload will be for internal use only and won’t be visible on your page.
For advice on what cost items to include in your Costs section, check out our guide to costing up a project for crowdfunding.