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Crowdfunding alice casey

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Alice Casey
Alice Casey

The document discusses crowdfunding as a method of financing community projects through public donations, noting examples such as the Statue of Liberty and a health center in Gosforth, Newcastle. It explores whether crowdfunding is an established practice or a passing trend, outlining the growth of crowdfunding platforms and types including rewards-based, equity, and donation models. Risks and benefits of crowdfunding are examined as well as some successful crowdfunding campaigns.

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Crowdfunding Established behaviour or flash in the pan? Alice.Casey@nesta.org.uk
Many local Did you know community the Statue of projects have been Liberty and the funded by plinth it stands communities upon were (acting off-line) crowd- Church-spires, funded by the incubators, citizens of USA religious and France? buildings
Gosforth Memorial Health Centre The people of Gosforth, Newcastle funded their health centre through public subscription in 1925. It was built by public subscription, which means that it was paid for entirely by the people of Gosforth. The building cost approximately 贈4500 when it was built in 1925, which in todays money is about 贈600,000. This gives an idea of just how huge an undertaking this was and its something the people of Gosforth should be really proud of. Cllr John Shipley
Annual growth in the number of crowdfunding platforms worldwide In 2011 453 platforms raised 1.5 billion in project and business financing Source: Crowdsourcing.org
Types of crowdfunding Combination of Revenue Repayment of intrinsic motivation, Sharing Loan/ Investment percentage of profit social and financial motivation Equity Financial return on Crowdfunding Investment Combination of investment in time if intrinsic, social and the business does well. financial motivation. Rewards also offered Sometimes, plus Intangible benefits.
Rewards-based crowd funding : The basics A set target amount for a specific outcome All or nothing within a specified time limit Benefits in return engaging benefits, goods or products, events, tributes, etc. In some cases, ability to raise loans or equity
Flash in the pan or Here to stay? Helps people do what theyve always done faster, cheaper differently? Digital tech uptake + spread Less of the old sources of finance available Innovative ideas need backers with belief Lots of market space remains Long term upsurge in grass roots action Direct relationship between funder and funded is fresh
Using a crowdfunding platform.. Step by step. Projects submit funding plans/targets and Apply rewards Some vetting of projects takes place Pitch Publicising fundraising (often a film/video) goes live Tapping into networks beyond known people Interactions on website with backers If target not reached, funds are returned to Funding backers ends If target is reached, funds are awarded Thank you and interaction on site Post Awards/rewards begin to take place some funding are social Promotion to networks of backers
Innovation In Giving Nesta and Cabinet office back 3 crowdfunding platforms
Features of the site include: Offering something in return Multiple levels and types of participation Embedded video & social media sharing Gift certificates to share with friends and family A clear outcome for what the funds will be used for with milestones along the way
Example platforms
Staged rewards how do they work? Amount Rewards No. 贈20 Custom t-shirt, badge, thank you letter 69 贈50 As above, plus handcrafted bag and postcards 28 贈150 As above plus handmade mini bike frame 10 贈300 As above plus choice of 1 day course or full size 15 handmade bike frame 贈500 As above plus 4 day bike making course 56 贈2000 As above plus a bike and photo yearbook 0 Non Need : Accountant and Electrician ? financial
Some possible risks What if good, effective projects cant tell their story well? If supporters come from existing networks, how will those in poorer areas manage? Wilful misuse (no case known>yet) Is it replacing or expanding giving?
Some possible benefits More than money : time, assets? Crowds of support network effect Innovative ideas backed New types of audience reached Match funds
Some impressive over-achievers from the USA! What happens with the excess?
Questions?
Some events coming up London Funders : 15th October NCVO sustainable funding : 29th November Alice.casey@nesta.org.uk Twitter : @cased With thanks toTheresa Burton, CEO Buzzbnk; Nick Underhill, Keo Digital & Peoplefund; Liam Collins, Nesta; creative commons image of statue of liberty: wwarby.

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Crowdfunding alice casey

  • 1. Crowdfunding Established behaviour or flash in the pan? Alice.Casey@nesta.org.uk
  • 2. Many local Did you know community the Statue of projects have been Liberty and the funded by plinth it stands communities upon were (acting off-line) crowd- Church-spires, funded by the incubators, citizens of USA religious and France? buildings
  • 3. Gosforth Memorial Health Centre The people of Gosforth, Newcastle funded their health centre through public subscription in 1925. It was built by public subscription, which means that it was paid for entirely by the people of Gosforth. The building cost approximately 贈4500 when it was built in 1925, which in todays money is about 贈600,000. This gives an idea of just how huge an undertaking this was and its something the people of Gosforth should be really proud of. Cllr John Shipley
  • 4. Annual growth in the number of crowdfunding platforms worldwide In 2011 453 platforms raised 1.5 billion in project and business financing Source: Crowdsourcing.org
  • 5. Types of crowdfunding Combination of Revenue Repayment of intrinsic motivation, Sharing Loan/ Investment percentage of profit social and financial motivation Equity Financial return on Crowdfunding Investment Combination of investment in time if intrinsic, social and the business does well. financial motivation. Rewards also offered Sometimes, plus Intangible benefits.
  • 6. Rewards-based crowd funding : The basics A set target amount for a specific outcome All or nothing within a specified time limit Benefits in return engaging benefits, goods or products, events, tributes, etc. In some cases, ability to raise loans or equity
  • 7. Flash in the pan or Here to stay? Helps people do what theyve always done faster, cheaper differently? Digital tech uptake + spread Less of the old sources of finance available Innovative ideas need backers with belief Lots of market space remains Long term upsurge in grass roots action Direct relationship between funder and funded is fresh
  • 8. Using a crowdfunding platform.. Step by step. Projects submit funding plans/targets and Apply rewards Some vetting of projects takes place Pitch Publicising fundraising (often a film/video) goes live Tapping into networks beyond known people Interactions on website with backers If target not reached, funds are returned to Funding backers ends If target is reached, funds are awarded Thank you and interaction on site Post Awards/rewards begin to take place some funding are social Promotion to networks of backers
  • 9. Innovation In Giving Nesta and Cabinet office back 3 crowdfunding platforms
  • 10. Features of the site include: Offering something in return Multiple levels and types of participation Embedded video & social media sharing Gift certificates to share with friends and family A clear outcome for what the funds will be used for with milestones along the way
  • 12. Staged rewards how do they work? Amount Rewards No. 贈20 Custom t-shirt, badge, thank you letter 69 贈50 As above, plus handcrafted bag and postcards 28 贈150 As above plus handmade mini bike frame 10 贈300 As above plus choice of 1 day course or full size 15 handmade bike frame 贈500 As above plus 4 day bike making course 56 贈2000 As above plus a bike and photo yearbook 0 Non Need : Accountant and Electrician ? financial
  • 13. Some possible risks What if good, effective projects cant tell their story well? If supporters come from existing networks, how will those in poorer areas manage? Wilful misuse (no case known>yet) Is it replacing or expanding giving?
  • 14. Some possible benefits More than money : time, assets? Crowds of support network effect Innovative ideas backed New types of audience reached Match funds
  • 15. Some impressive over-achievers from the USA! What happens with the excess?
  • 17. Some events coming up London Funders : 15th October NCVO sustainable funding : 29th November Alice.casey@nesta.org.uk Twitter : @cased With thanks toTheresa Burton, CEO Buzzbnk; Nick Underhill, Keo Digital & Peoplefund; Liam Collins, Nesta; creative commons image of statue of liberty: wwarby.