Crowdsourced Fundraising
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Transcript of Crowdsourced Fundraising
July 6, 2011
Crowdsourced FundraisingCrossLink
Agenda
• Definition
• Landscape
• Case Studies
• Best practices
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What is ‘Crowd-Funding’ ?
Attracting resources for creativity, causes, and businesses via the web
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Landscape
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Kickstarter: Funding Creativity
• The largest funding platform for creative projects
• A new form of commerce & patronage
• Project creators keep 100% ownership and control over their work.
• Projects offer unique benefits to backers
• All or nothing funding
• Projects must be fully-funded or no money changes hands
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ProFounder: Equity-based fundraising tools
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• At launch, ProFounder allowed entrepreneurs to share a percentage of their revenues with investors (friends, family, community) over time in exchange for an investment.
• ProFounder gives businesses a page where they can invite investors to a destination page that allows users to make contributions
• Most recently, ProFounder is launching another option for fundraising-an equity term sheet.
CrowdRise: Everyday Philanthropists
• A personal foundation platform that allows users to raise money and organize volunteer efforts
• Each Crowdrise template gives everyday philanthropists a hub to showcase their charity, do social media outreach, display photos, and update contributors on the project’s progress.
• Will Ferrell is raising money for cancer. If you donate you get a bottle of suntan lotion with his naked body printed on it
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JustGiving: Technology for charity
• Enables charities to harness the financial backing of a huge number of sponsors
• Unlike Kickstarter, JustGiving charges charities £15 month plus a 5% commission
• Fundraisers are given access to a wide range of multi-media tools where they can set up (and later customise) a fundraising donation webpage in just 60 seconds.
• iPhone app also available for on-the-go management
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Case Studies
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TikTok’s iPod Nano Watch
• Transforms the iPod Nano into the world’s coolest multi-touch watch
• Raised close to $1 million on Kickstarter, grabbing the spot for most money raised on the fund crowdsourcing site to date.
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The Glif – iPhone Tripod
• Dan Provost and Tom Gerhardt are two friends that decided to make a little contraption that could put your iPhone in a tripod. They wanted $10,000. They got $137,417.
• The product involves 3d printing, which requires an expensive machine
• They asked people to pre-order the product as a way to fund it
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Kickstarter Film Festival will debut 90 minutes of a dozen film projects
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When: Friday July 9th
Where: Old American Can Factory in Brooklyn
Additional Kickstarter participants will be selling things like artisanal sodas, handmade ice cream, pies, vegetables, delicious cakes
LUMI Mask
• LUMI is a sleep mask that simulates sunrise, combining two existing products- sleep masks and sunrise clocks.
• In the morning a light unit inside the LUMI simulates a sunrise 30 minutes before you wake.
• LUMI will be compatible with the iPhone and other mobile devices through a receiver that will allow you to set your wake up time from your mobile device.
• Raised $10,000
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Best practices
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Best Practices – Building a relationship between backers and the project
• Communicate the mission of the project and the team
• Important to have a personal story. Strong beginning, middle, and then possible end (if your project is funded).
• Beginning might be the description and video; Middle / end might be a blog…
• Collaborate! Find someone with a video camera. Take photos all along the way to document the process.
• Building a unique project economy via incentives
• Find incentives that are cheap to produce but valuable and unique to your project.
• Photo Prints, DVDs, CD’s, Digital Downloads, Letters of Thanks, Producer Credits, Send out e-mails and ask people to share.
• Events build more excitement and create a close connection between the project and potential backers
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Thank you!
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UP NEXT:
• OLLIE / ‘El Arpa’ documentary
• MIKE & RAJ / #CrowdGallery
• Panel discussion / Q&A
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