Pozible is an Australian crowdfunding platform community for creative projects and ideas. Pozible aims to assist artists, musicians, film-makers, designers, social change advocates to further their projects. Pozible is regarded as a good alternative to traditional methods of funding in Australia.
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Pozible operates on a non-traditional fundraising platform called crowdfunding. Projects are submitted and published on the website, if project guidelines are met. Project creators select a deadline and a target amount to achieve. Supporters are invited and encouraged to pledge an amount to support the project's campaign. During the project's campaign, project creators are encouraged to publicise their works through embedded videos, word of mouth, social networks and regular project updates. If the nominated target is not met by the deadline, pledges are not processed. Supporters require a Mastercard or Visa credit card or debit card. All pledges are made in Australian dollars. Pozible takes 7.5% of successful projects, and a transfer is made into the project creator's bank account. In turn, project creators must provide rewards (not of a financial basis) to their supporters, depending on how much is pledged. Network Collaborator Members and previously successful project creators are only required to pay a 5% fee for their successful projects. Unsuccessful projects are not required to pay a fee. Unlike other crowdfunding organisations, Pozible does not use Paypal or Amazon to process their transactions. Pozible has a relatively lower transaction fee in comparison to other crowdfunding organisations.
Pozible was launched as Fundbreak in May 2010. Pozible's good reputation among the arts and connections in the local Australian arts industry has seen collaborations with prominent arts festivals such as the Emerging Writers Festival[1] and the Melbourne and Sydney Fringe Festivals and many local non-for-profit organisations. In December 2010, Pozible (still known as Fundbreak) hosted the largest crowd-funded project in Australia, raised by the New Matilda relaunch, raising AU$175,838.[2] In November 2011, Pozible hosted the largest, crowdfunded project created by a single person in Australia. Kylie Gusset single-handedly raised AU$38,893 for her project "Ton of Wool", to promote Australian processed wool.[3] The Fundbreak brand was relaunched as Pozible in January 2011, and established offices in Melbourne and Sydney, Australia.
Pozible celebrated $1 million in pledges in October 2011. The overall success rate is 35%- 40%.