By Fachri Mirza
GOMBAK, 22 December 2017 – Skolafund, a crowdfunding platform for deserving students has successfully funded RM 600,000 throughout the year beginning in April 2015.
Started with four passionate students currently taking bachelor’s degree at International Islamic University Malaysia (IIUM) and National University of Singapore (NUS), Skolafund is now known for its well-recognised education crowdfunding platform in Malaysia and Singapore. It was recently listed in Forbes Asia’s 30 Under 30.
Tengku Syamil, who is a co-founder and Chief Executive Officer (CEO) of Skolafund, told IIUMToday on the inspiration behind establishing Skolafund.
He said, “There are many hardworking students trying hard to seek for financial support. Conversely, a lot of people are willing to help with whatever amount or how small the money is.”
“The inspiration of making this platform is to help needy students by allowing the community to come together and crowdfund,” Tengku Syamil further explained to IIUMToday.
“Being able to grow a community of about ten thousand members that have assisted some 150 students together, is indeed the biggest achievement,” Tengku Syamil added.
To start crowdfunding, students are required to submit an application on Skolafund.com by including a letter of admission, matriculation card, and income slips. The verification will only start after the submission of documents.
Not only that, applicants also need to be more specific in their crowdfunding as on how much he or she needs for academic fees and others.
When it is done with the verification, Skolafund will launch the crowdfunding campaign for 30 days. During the campaign, Skolafund will help to promote and raise the funds. The campaign will be deemed successful when it has reached 100 percent of funding targets, otherwise, it will be returned to the sponsors.
The funds will be directed to a respective institution for fee payment. As for student’s stipend, it will be directed to students itself.