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Spacehive town funder
- 2. The concept Crowdfunding… …to make revamping your town centre as easy as buying a book online.
- 3. Spacehive’s model • Civic projects • Project management tools • User friendly design • Legal framework • Verification – to reduce risk
- 4. The aim? • Make planning accessible, transparent, and fun • Bind communities together • Tap investment and creativity
- 6. Why now? • Economy • Localism & Big Society • Powerful technology
- 7. Will it work? It already is: • £1.2bn raised via crowdfunding platforms in 2011 • Civic crowdfunding in America, Finland and Holland • In UK, technology tested, projects delivered.
- 8. In Glyncoch, South Wales…
- 10. …with a little help from…
- 11. “Once Spacehive got involved, it was a brilliant effort. It gee'd the community up and increased participation when people saw money coming in. Everyone was chasing that target and the whole atmosphere on the estate changed when they realised it was going to happen. Now the building is going up and there's a real buzz.” – Doug, Mayor of Glyncoch
- 12. How it works
- 15. The opportunity for towns • Portas shows people care • Town teams have great local networks • But no state cash • And it’s hard to engage
- 16. Spacehive offers • Smart way of tapping funds & ideas • Powerful engagement tool • Project verification by a trusted partner – ATCM • Vibrant media coverage
- 17. Things are already happening…
- 18. Free WiFi for Mansfield
- 19. ‘Urban Oasis’ in Stockwell
- 21. First Corporate Matchfunder • Corporates ‘match’ money raised • ‘Crowdfunding’ proves local support • Used to leverage corporate cash • Experian - £100k over a year
- 22. Our Partners Spacehive works with a host of partners: – Councils – Mumsnet – Cities – eg London’s City Hall – Business in the Community (BITC) – Property world
- 23. Conclusions
- 24. Contact me: andy@spacehive.com @andrewjteacher 07968 124 545
Editor's Notes
- Making it possible to bring the local community with you as you try and improve and restore the high streets and town centres. lots of definitions – but it’s about collective effort – in this case financial - to support a project that someone else has started. Different crowdfunding platforms have different approaches – Kickstarter, the arts platform, gives rewards. Crowdcube provides equity in companies, and an actual financial return if the company’s successful.
- Empowers ordinary people: you get to fund new parks as easily as buying books onlineBusinesses: you get to split the cost of high street improvements that drive up footfall Corporates: you get to connect with your client base by pledging to projects they loveCouncils: you get to share the cost burden and keep voters happy
- Why crowdfunding, not grants or BIDs?S
- Tough test for the model7 yearsDeprived.State dependent. Cynical
- … in a campaign thatstarted local…Fry tweetedEnded Tesco, Admiral, Patagonia Mayor:Not just the money “you made people think things are possible”
- Brief overview of processEven simpler - Appealing to people’s self interest – we’re geographically based, and provide things that affect the built environment near them. Residents – Places they want to be, spend time, improve property prices, facilities and environments they want – playparks, Businesses – about improving footfall and linger time, creating areas people more want to beCouncils –Effective way of offerring up neighbourhood plans for input
- Total amount to raise – the cost of the project + SH fee+ transaction fee. 1 £1000 donation through GoCardless = £2 100 £10 donations = £55People pledge money – everyone can see who’s pledged what – whether it’s the council, an individual or a business – but CRUCIALLY – you have to stress this – no-one pays if nothing happens. It’s like a credit card pre-authorisation.