Crowdsourced Fundraising

July 6, 2011 Crowdsourced Fundraising CrossLink

Agenda
Definition
Landscape
Case Studies
Best practices

What is ‘Crowd-Funding’ ?
Attracting resources for creativity, causes, and businesses via the web

Landscape

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

ProFounder: Equity-based fundraising tools
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

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

Case Studies

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.

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

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

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

Best practices

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

Thank you!

UP NEXT:
OLLIE / ‘El Arpa’ documentary
MIKE & RAJ / #CrowdGallery
Panel discussion / Q&A

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Crowdsourced Fundraising

by Michael Fasciano on Jul 07, 2011

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Crowdsourced Fundraising — Presentation Transcript