Microphilanthropy, Crowdfunding & Start-Up (REVV 2011)
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Microphilanthropy, Crowdfunding & Start-Up (REVV 2011)

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Presented to Springboard Innovation's Revisioning Value Conference, March 7-8, 2011. Thanks to all of you - you made the session really fun!

Presented to Springboard Innovation's Revisioning Value Conference, March 7-8, 2011. Thanks to all of you - you made the session really fun!

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  • I got a $829.99 iPad2 for only $103.37 and my mom got a $1499.99 HDTV for only $251.92, they are both coming with USPS tomorrow. I would be an idiot to ever pay full retail prices at places like Walmart or Bestbuy. I sold a 37' HDTV to my boss for $600 that I only paid $78.24 for.I use. http://xub.me/Lb
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  • Thank you for this very comprehensive presentation, Paul!
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  • Wow! Happy to share Eric. Cheers, Kristin
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  • Kristin, I'm going to share this with board members at the community foundation. Thanks for posting it.
    Eric. Black Hills Area Community Foundation
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  • Maura: Thanks. I'm honored. Please pay it forward ;-). Also, I went back and inserted the videos we talked about. They are now embedded. Cheers, Kristin
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  • What kinds of entity are you?Nonprofit?Gov?For profit?FoundationFunder/investor (current or aspiring)Interested person Goals for today?Understand crowdfunding/how it works?Find a platformAsk questions of people who’ve done crowdsourcing?Other?Used crowdfunding?Investor?Investee?
  • Lot’s of similar words:Crowdsourcing….Microfunding…Microlending…Microphilanthropy…Fundamentally, it’s about pooling resources to do something that matters to the funders (the “crowd”)It’s as old as the hills…“Barnraising”Ye Olde Patronage system (in the arts, this is sometimes called micropatronage)Destination DIY show – “Partner” (Jamaica), La Tienda, SuSuCredit unions
  • JOURNALISM, MUSCI ART – INDUSTRIES WHERE THE PRIMARY BUSINESS MODELS ARE BROKEN
  • What’s different today? Why is this emerging now?Answer that technology makes it possibleAnd the need and desire for alternatives to traditional funding mechanisms and institutions makes it desireable.Old conditions: part of community, trusted intermediary, cultural familiarityBut, people move (no longer part of community), makes trusted intermediaries hard to find,But technology enables two things: people can connect to one another and they can make their interactions transparent.These are excellent conditions for crowdfunding to take off.And it has.Not just supporting project, changing the world. Giving people different options.Chris Anderson – we’re learning/and teaching each other to do this.

Microphilanthropy, Crowdfunding & Start-Up (REVV 2011) Microphilanthropy, Crowdfunding & Start-Up (REVV 2011) Presentation Transcript

  • MICROPHILANTHROPY, CROWDFUNDING & START-UP:The Beginning of Connected Capital?
    WHO’S HERE? PAUL OSTERLUND(ABUNDANCE FARMING), JOSH TETRICK (33 NEEDS),
    KRISTIN WOLFF (THINKERS+DOERS & YOU
  • WHO ARE YOU?
  • WHAT’S “CROWDFUNDING?”
  • Here’s what Wikipedia says about crowdfunding
    Crowdfunding: The collective cooperation, attention and trust by people who network and pool their money and other resources together, usually via the Internet, to support efforts initiated by other people or organizations.
    “Crowdfunding is a collaborative funding model; many people give smaller amounts of money to make big things happen.“ Slava, IndieGoGo
  • WHO’S DOING CROWDFUNDING?
    Source: http://www.smartermoney.nl/?p=35#platforms
  • BUT WAIT! THERE’S MORE…
  • OMG . . . IS THERE A CURATED VERSION?
    = Fund my business
    = Fund my creative project
    = Fund my social venture
  • CURATED VERSION (CONT.)
    = Fund my personal cause
    = Fund my personal project or activity
    = Fund my need
  • INDUSTRY-SPECIFIC PLATFORMS
  • WHY NOW?
  • DOES IT WORK?
    $80M pledged to date ($35M on Kickstarter) (Source: @RobertAndrews, Jan 2011)
    Pulls new funders into market
    Fills a gap in investment market (under $10K)
    Creates relationships between investees + investors, and investees and each other (but also creates challenges)
    Leverages ‘alternative currencies’
    “Jury is out”
  • Josh Tetrick: 33 Needs
  • JOSH TETRICK, 33 NEEDS
    WHY 33 NEEDS?
    WHAT DO GOOD PROJECTS DO THAT HELPS THEM SUCCEED?
    WHAT DOES “SELFLESSNESS IS PROFITABLE” MEAN?
    STATE OF CROWDFUNDING?
    ADVICE TO ASPIRING PROJECTS, ENTREPRENEURS, INNOVATORS?
  • Paul Osterlund: Abundance Farming and ChangeXchange
    Springboard Innovation began CXc on-line seed-funding for social innovators in April ’09.
    Designed to enable a new breed of citizen social innovators; providing start-up funds for new and proven social ventures, from ‘investors in sustainable change’ @ $5 per share.
    Funding financially sustainable social enterprises; nonprofits with a plan for self-sufficiency.
    Infrastructure supporting the 5th Space:
    Mission Money
    GOVERNMENT
    BUSINESS
    NON-PROFITS
    ACADEMIA
    SocialEntrepreneurialVentures
    Communication Influence
    Information Research
    Knowledge Benefit Many
  • www.thechangexchange.org/
    CXc soon to release new engineering, images, profiles for listers…new funding partners.
    CXc invites listers to apply - new start-up ventures, those replicating successful models, and established non-profits adding a sustaining strategy…and now B-corporations.
    Submit your profile summary
    Review CXc legal agreement
    Q & A / discussion…
    Contacts:
    paul@springboardinnovation.org
    amy@springboardinnovation.org
  • RESOURCES
    http://www.npr.org/blogs/therecord/2011/03/02/134194007/crowdfunding-cuts-out-most-of-the-middlemen
    http://destinationdiy.org/episodes/episode33.html
    http://mashable.com/2009/07/29/crowdfunding-success/
    http://www.blackweb20.com/2011/03/02/crowdfunding-an-alternative-for-minority-startups/
    http://gigaom.com/2011/02/18/kickstarter-crowd-funding-hits-1m-a-week/
    http://www.readwriteweb.com/archives/can_we_crowdfund_our_lives.php
  • Flickr Friends: Money (epSos.de); Shadow portrait (humber15); the rest are mine.
    Follow REVV2011 or use #REVV201 on Twitter to share comments.
  • IF TIME…
    “Inchvesting” in Loveland
    http://buyaframe.lemonadedetroit.com/
    Alan Rosenblith’sSymbionomics Film
    Jean Russell’s Thrivability Project
    Mr. T’s Classroom in Talent, OR