Nick Underhill - London Child Poverty Conference
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London child poverty conference New sources of funding and philanthropy Supported by:
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Transcript of Nick Underhill - London Child Poverty Conference
London child poverty conference
New sources of funding and philanthropy
Supported by:
Supported by:
Crowdfunding describes the collective effort of individuals who network and pool their resources to support efforts initiated by other people or organizations.
Crowdfunding comes in four forms – equity, reward, donation, loan.
A recent NESTA study found that the UK Crowdfunding market is already estimated to be worth £80 million - from £0 almost two years ago.
The worldwide market is worth $1.5 billion.
What is Crowdfunding?
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In the UK we've been Crowdfunding since Victorian times, although it was known as civic subscription.
Several large parks in Manchester were built that way - plus most of the statues in our towns.
The most famous example of civic subscription in the UK was Sheffield University - from the penny donations given a century ago by Sheffield factory workers to establish a university which would benefit their economy, health and children.
In America the base of the Empire State building was 'crowdfunded'.
Crowdfunding not a new concept
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Crowdfunding is not just about raising money, it is about validating a project or idea.
Gaining support via Crowdfunding proves your idea is good and develops a strong initial and loyal customer base before your project even begins.
Importantly Crowdfunding democratizes the financing process.
Its not just about the money
Types of businesses funded
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The PotentialThe Bicycle Academy
Raised £40,000+ in just six days
“What Peoplefund.it has achieved for The Bicycle Academy is impressive. It’s a sign that people are prepared to roll up their sleeves to back and support ideas which make a difference to the world – that’s what Big Society is about” – Zac Goldsmith MP
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What Crowdfunding can't do
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Crowdfunding for rewards are not the same as donations.
For purely raising money sites like JustGiving are a more viable alternative.
Crowdfunded projects need a clear start, middle and end – with a clear marketing plan throughout.
Nick UnderhillMD KEO Digital
www.keofilms.com
