Crowdsourced Fundraising

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This presentation on Crowdsourced Fundraising pulls together information and examples about the the landscape, popular sites, notable examples, and best practices.

Written for Frontrunner's 'Cross-Link' meetup in TriBeCa NYC. Join at www.meetup.com/crosslink

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Crowdsourced Fundraising

  1. 1. July 6, 2011 Crowdsourced Fundraising CrossLink
  2. 2. Agenda <ul><li>Definition </li></ul><ul><li>Landscape </li></ul><ul><li>Case Studies </li></ul><ul><li>Best practices </li></ul>
  3. 3. What is ‘Crowd-Funding’ ? <ul><li>Attracting resources for creativity, causes, and businesses via the web </li></ul>
  4. 4. Landscape
  5. 5. Kickstarter: Funding Creativity <ul><li>The largest funding platform for creative projects </li></ul><ul><li>A new form of commerce & patronage </li></ul><ul><ul><ul><li>Project creators keep 100% ownership and control over their work. </li></ul></ul></ul><ul><ul><ul><li>Projects offer unique benefits to backers </li></ul></ul></ul><ul><li>All or nothing funding </li></ul><ul><ul><ul><li>Projects must be fully-funded or no money changes hands </li></ul></ul></ul>
  6. 6. ProFounder: Equity-based fundraising tools <ul><li>At launch, ProFounder allowed entrepreneurs to share a percentage of their revenues with investors (friends, family, community) over time in exchange for an investment. </li></ul><ul><li>ProFounder gives businesses a page where they can invite investors to a destination page that allows users to make contributions </li></ul><ul><li>Most recently, ProFounder is launching another option for fundraising-an equity term sheet. </li></ul>
  7. 7. CrowdRise: Everyday Philanthropists <ul><li>A personal foundation platform that allows users to raise money and organize volunteer efforts </li></ul><ul><li>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. </li></ul><ul><li>Will Ferrell is raising money for cancer. If you donate you get a bottle of suntan lotion with his naked body printed on it </li></ul>
  8. 8. JustGiving: Technology for charity <ul><li>Enables charities to harness the financial backing of a huge number of sponsors </li></ul><ul><li>Unlike Kickstarter, JustGiving charges charities £15 month plus a 5% commission </li></ul><ul><li>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.  </li></ul><ul><li>iPhone app also available for on-the-go management </li></ul>
  9. 9. Case Studies
  10. 10. TikTok’s iPod Nano Watch <ul><li>Transforms the iPod Nano into the world’s coolest multi-touch watch </li></ul><ul><li>Raised close to $1 million on Kickstarter, grabbing the spot for most money raised on the fund crowdsourcing site to date. </li></ul>
  11. 11. The Glif – iPhone Tripod <ul><li>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. </li></ul><ul><li>The product involves 3d printing, which requires an expensive machine </li></ul><ul><li>They asked people to pre-order the product as a way to fund it </li></ul>
  12. 12. Kickstarter Film Festival will debut 90 minutes of a dozen film projects 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
  13. 13. LUMI Mask <ul><li>LUMI is a sleep mask that simulates sunrise, combining two existing products- sleep masks and sunrise clocks. </li></ul><ul><li>In the morning a light unit inside the LUMI simulates a sunrise 30 minutes before you wake. </li></ul><ul><li>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. </li></ul><ul><li>Raised $10,000 </li></ul>
  14. 14. Best practices
  15. 15. Best Practices – Building a relationship between backers and the project <ul><li>Communicate the mission of the project and the team </li></ul><ul><ul><ul><li>Important to have a personal story.  Strong beginning, middle, and then possible end (if your project is funded). </li></ul></ul></ul><ul><ul><ul><li>Beginning might be the description and video; Middle / end might be a blog… </li></ul></ul></ul><ul><ul><ul><li>Collaborate!  Find someone with a video camera.  Take photos all along the way to document the process. </li></ul></ul></ul><ul><li>Building a unique project economy via incentives </li></ul><ul><ul><ul><li>Find incentives that are cheap to produce but valuable and unique to your project. </li></ul></ul></ul><ul><ul><ul><li>Photo Prints, DVDs, CD’s, Digital Downloads, Letters of Thanks, Producer Credits, Send out e-mails and ask people to share. </li></ul></ul></ul><ul><ul><li>Events build more excitement and create a close connection between the project and potential backers </li></ul></ul>
  16. 16. Thank you!
  17. 17. UP NEXT: <ul><li>OLLIE / ‘El Arpa’ documentary </li></ul><ul><li>MIKE & RAJ / #CrowdGallery </li></ul><ul><li>Panel discussion / Q&A </li></ul>

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