Crowdfunding has been used successfully to fund many projects throughout history, though it is now growing rapidly with new digital platforms. It allows individuals to directly fund projects and causes they support. There are different types of crowdfunding including donations, rewards-based, equity and lending models. It offers benefits like engaging new audiences and supporting innovative ideas, though there are also some risks to consider like ensuring projects can communicate well and reach diverse groups. Overall, crowdfunding appears to be more than a flash in the pan and is here to stay as a new method of fundraising and financing projects.
barry ideasbank - Britain's longest running community ideas resourceAndy Green
How can you make a community ideas bank work? A review of the first 10 months of a pioneering project - the Barry ideasbank - made to the Royal Society for Arts, manufactures and commerce (RSA) at its Annual Meeting in Cardiff, Wales on September 28th, 2013.
barry ideasbank - Britain's longest running community ideas resourceAndy Green
How can you make a community ideas bank work? A review of the first 10 months of a pioneering project - the Barry ideasbank - made to the Royal Society for Arts, manufactures and commerce (RSA) at its Annual Meeting in Cardiff, Wales on September 28th, 2013.
Crowdfunding Definition, Typologies, and advantages for entrepreneurs.
How to prepare a Crowdfunding campaign to validate your idea.
Case Study and Key Learnings of Uttopy Crowdfunding Campaign.
Crowdfunding: How to set up a campaign (from my personal experience)Craig Thomler
This is the presentation I gave at BarCamp Canberra 2014 about my experience setting up a crowdfunding campaign.
I launched my Kickstarter at the end of the presentation.
Learn more about it at: www.kickstarter.com/projects/socialmediaplanner/social-media-planner
Understand what is crowdfunding, what are the best practices, what to take under consideration when developing a crowdfunding campaign and why is this important!
Description: This session will look at the building blocks need to run a fruitful Crowdfunding Campaign with minimal cost.
We will focus on:
• The benefits of Crowdfunding and what it is
• The broad skillset organisations need for Crowdfunding, including marketing, creativity & passion
• The common pitfalls to avoid
• Explore the Building Blocks of a Crowdfunding Campaign and plan through the steps together
Learning Objectives: Participants will
1. Understand what Crowdfunding is and how it works
2. Understand the skillset required for effective Crowdfunding campaigns
¥ Understand their organisation’s own training & development needs
3. Understand the pitfalls to avoid
4. Know how to plan their own campaign
Crowdfunding Definition, Typologies, and advantages for entrepreneurs.
How to prepare a Crowdfunding campaign to validate your idea.
Case Study and Key Learnings of Uttopy Crowdfunding Campaign.
Crowdfunding: How to set up a campaign (from my personal experience)Craig Thomler
This is the presentation I gave at BarCamp Canberra 2014 about my experience setting up a crowdfunding campaign.
I launched my Kickstarter at the end of the presentation.
Learn more about it at: www.kickstarter.com/projects/socialmediaplanner/social-media-planner
Understand what is crowdfunding, what are the best practices, what to take under consideration when developing a crowdfunding campaign and why is this important!
Description: This session will look at the building blocks need to run a fruitful Crowdfunding Campaign with minimal cost.
We will focus on:
• The benefits of Crowdfunding and what it is
• The broad skillset organisations need for Crowdfunding, including marketing, creativity & passion
• The common pitfalls to avoid
• Explore the Building Blocks of a Crowdfunding Campaign and plan through the steps together
Learning Objectives: Participants will
1. Understand what Crowdfunding is and how it works
2. Understand the skillset required for effective Crowdfunding campaigns
¥ Understand their organisation’s own training & development needs
3. Understand the pitfalls to avoid
4. Know how to plan their own campaign
Presentation slides from Jonathan Bone and Peter Baeck from the launch of Nesta's Crowdfunding Good Causes report:
http://www.nesta.org.uk/publications/crowdfunding-good-causes
Realising the Value Stakeholder Event -Workshop: How does the system support Nesta
Workshop D - How does the system support communities/individuals and how could it do it better?
The levers and drivers that national bodies put in place and how these are used locally have a significant impact on working in partnership with communities and patients. These levers and drivers include regulation, targets, outcomes measures, financial flows, annual contracting cycles, clinical standards, workforce training and revalidation etc.
This workshop will draw upon your experience and evidence to address two questions:
How these levers and drivers get in the way of working in partnership with patients and communities?
What is the best blend of approaches to support commissioners and providers locally to harness the energy of patients and communities
Realising the Value Stakeholder Event - Workshop:Prioritising our ‘long list’...Nesta
Workshop C - Prioritising our ‘long list’ of person and community centred approaches
Hear an update from Newcastle’s Health Economics team on interim findings from their evidence review of person and community centred care before participating in discussions to help develop criteria for prioritising which approaches the rest of the programme will ‘deep dive’ into. Criteria will be be evidence driven but also take into account ensuring a good mix of approaches and practice / grey evidence submitted to the consortium.
Realising the Value Stakeholder Event - Workshop:Let's think in terms of beha...Nesta
Workshop B - Let's think in terms of behaviour: What changes do we want to see?
Participants will be shown how the Behavioural Insights Team approach projects in terms of targeting specific behaviours to change. Participants will then work together to do just this for the Realising the Value programme, thinking about what changes they would like to see amongst people, patients and practitioners. This will help form outcome measures for the RtV programme and will give participants a new way of thinking about making tangible change happen in their own organisations.
Realising the Value Stakeholder Event - Workshop: How do we understand value? Nesta
Workshop A - How do we understand value?
In many cases the alignment between what people want and what is provided is poor. The needs, abilities and aspirations of the individual are often not given enough recognition in "treatment " services or choices as commissioners may not be able to assess the value of non traditional interventions.
Realising the Value aims to underpin the NHS Five Year Forward View with a new articulation of the value of engaging people and communities. This workshop will provide participants with the opportunity to explore an approach to value which goes beyond 'value for money' and identifies the three domains of personal, social and economic value that constitute effective person centred designed and led interventions for improving health and social care outcomes
Sabine Junginger: Developing & Maintaining Design Capabilities Nesta
In November 2014, Nesta was invited by the OECD to run a workshop on 'Designing & Prototyping Public Services' at the annual OECD conference in Paris. This was delivered as part of our Design for Europe programme - designforeurope.eu.
During the session Sabine Junginger, fellow at The Hertie School of Governance, delivered this presentation on design and design policy.
Stephane Vincent: Empowering civil servants with service design skillsNesta
In November 2014, Nesta was invited by the OECD to run a workshop on 'Designing & Prototyping Public Services' at the annual OECD conference in Paris. This was delivered as part of our Design for Europe programme - designforeurope.eu.
During the session Stephane Vincent, director general at public service lab La 27e Région, delivered this presentation on training civil servants in service design.
In November 2014, Nesta was invited by the OECD to run a workshop on 'Designing & Prototyping Public Services' at the annual OECD conference in Paris. This was delivered as part of our Design for Europe programme - designforeurope.eu.
During the session Dominic Campbell, co-founder of FutureGov, delivered this presentation discussing his organisation's work.
Nesta's director of policy and research Stian Westlake sets out his six trends set to impact on the political future.
Stian was speaking at Future Shock: http://www.nesta.org.uk/event/future-shock
Nesta's Oliver Quinlan (@OliverQuinlan) outlines the impact and potential of digital tech on our classrooms.
Oliver was addressing a workshop at FutureShock: http://www.nesta.org.uk/event/future-shock
Exploring the future role of robots in the creative economy with Professor Mike Osborne, from the University of Exter.
Professor Osborne was talking at Future Shock: http://www.nesta.org.uk/event/future-shock
Professor Mike Osborne of the University of Exeter examines the future of employment in a world of increasing automation.
Professor Osborne was talking at FutureShock: http://www.nesta.org.uk/event/future-shock
Nesta's John Loder introduces People Powered Health, our project to centre healthcare on the patient through digital innovation and collaboration.
John was speaking at Future Shock: http://www.nesta.org.uk/event/future-shock
Jenny Barnett, director of Healthcare Innovation, explores the huge potential and barriers to digital healthcare reform.
Jenny was talking at Future Shock: http://www.nesta.org.uk/event/future-shock
1. Crowdfunding
Established behaviour or
flash in the pan…?
Alice.Casey@nesta.org.uk
2. Many local Did you know
community the Statue of
projects have been Liberty and the
funded by plinth it stands
communities upon were
(acting off-line) “crowd-
Church- funded” by the
spires, incubators, citizens of USA
religious and France?
buildings…
3. Gosforth Memorial Health Centre
The people of
Gosforth, Newcastle
funded their health centre
through public
subscription in 1925. It was
built by public
subscription, which means
that it was paid for entirely
by the people of Gosforth.
“The building cost approximately £4500 when it was built in
1925, which in today’s money is about £600,000. This gives an idea
of just how huge an undertaking this was and it’s something the
people of Gosforth should be really proud of.” Cllr John Shipley
4. Annual growth in the number of crowdfunding
platforms worldwide
In 2011 453 platforms raised €1.5 billion
in project and business financing
Source: Crowdsourcing.org
5. Types of crowdfunding…
Combination of
Revenue Repayment of intrinsic
Sharing Loan/ Investment percentage of profit motivation, social
and financial
Equity motivation
Financial return on
Crowdfunding Investment Combination of
investment in time if
intrinsic, social and
the business does well.
financial motivation.
Rewards also offered
Sometimes, plus
Intangible benefits.
6. Rewards-based crowd funding :
The basics
• A set target amount for a specific outcome
• “All or nothing” within a specified time limit
• Benefits in return – engaging benefits, goods
or products, events, tributes, etc.
• In some cases, ability to raise loans or equity
7. Flash in the pan or Here to stay?
• Helps people do what they’ve always done –
faster, cheaper… differently?
• Digital tech uptake + spread
• Less of the old sources of finance available
• Innovative ideas need backers with belief
• Lots of ‘market’ space remains
• Long term upsurge in grass roots action
• Direct relationship between funder and
funded is fresh
8. Using a crowdfunding platform.. Step by step.
• Projects submit funding plans/targets and
Apply rewards
• Some vetting of projects takes place
Pitch • Publicising fundraising (often a film/video)
goes live • Tapping into networks beyond known people
• Interactions on website with backers
• If target not reached, funds are returned to
Funding
backers
ends
• If target is reached, funds are awarded
• Thank you and interaction on site
Post • Awards/rewards begin to take place – some
funding are social
• Promotion to networks of backers
10. Features of the site
include:
• Offering something in
return
• Multiple levels and
types of participation
• Embedded video &
social media sharing
• Gift certificates to
share with friends and
family
• A clear outcome for
what the funds will be
used for with
milestones along the
way
12. Staged rewards – how do they work?
Amount Rewards No.
£20 Custom t-shirt, badge, thank you letter 69
£50 As above, plus handcrafted bag and postcards 28
£150 As above plus handmade mini bike frame 10
£300 As above plus choice of 1 day course or full size 15
handmade bike frame
£500 As above plus 4 day bike making course 56
£2000 As above plus a bike and photo yearbook 0
Non Need : Accountant and Electrician ?
financial
13. Some possible risks
• What if good, effective projects
can’t tell their story well?
• If supporters come from existing
networks, how will those in poorer
areas manage?
• Wilful misuse (no case known>yet)
• Is it replacing or expanding giving?
14. Some possible benefits
• More than money : time, assets?
• Crowds of support – network effect
• Innovative ideas backed
• New types of audience reached
• Match funds
17. Some events coming up
• London Funders : 15th October
• NCVO sustainable funding : 29th November
Alice.casey@nesta.org.uk
Twitter : @cased
With thanks to…Theresa Burton, CEO Buzzbnk; Nick Underhill, Keo Digital & Peoplefund; Liam Collins, Nesta;
creative commons image of statue of liberty: wwarby.