In an effort to assist competitors in raising funds towards their participation it the Global Solo Challenge, the Organisers offer each competitor the opportunity to create a personal crowdfunding page on the Event website to raise funds from the public towards the payment of their entry fees in the Event.
The facility is provided purely as an aid for competitors to raise funds from family, friends and well wishers, a practice that has become common in many sporting events under the general umbrella of Crowdfunding. The Organisers do not charge any commission for providing this service and pass the whole amount (net of banking fees) to the competitor as a reduction in their Entry Fees due.
Funds raised through the crowdfunding facility are non refundable under any circumstance to donor or entrant and cannot be withdrawn or demanded by the entrant. These funds can only go towards the reduction of the outstanding balance of entry fees payable directly by the entrant to the Organisers, otherwise this process would not be compatible with the current company registration, status and regulations.
Any fundraising campaign that reaches the target goal of the total of the entry fees in the Event will be automatically closed.
Crowdfunded amounts will not be refunded to the entrant or donor in case of entrant withdrawing from the event or the event being cancelled. However, in such cases, 50% of all crowdfunded amounts will be donated to a Registered Charity chosen by the Organisers.
We hope that this free service can aid competitors with their total budget at least in the reduction of the total represented by the entry fees.
“During the Global Ocean Race 2011-2012 I jokingly setup a page on my website where the public could buy me a round of bears or steak and chips at the next stopovers. This proved so popular that as a whole the public became my number one sponsor in my participation in the event. The practice of Crowdfunding is very popular nowadays and Jean Le Cam famously coined the his motto “Yes we Cam” around his crowdfunding campaign” (Marco Nannini).
The service is only available to competitors entered in the event.