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Tim WrightTim Wright
Innovative Approaches To Fundraising For Parks And Greenspaces
CrowdfundingCrowdfundingThe Grassmarket Centre
Thursday, 3 March 2016
Crowd EconomyCrowd EconomyBusiness Advisory FirmBusiness Advisory Firm
www.twintangibles.co.ukwww.twintangibles.co.uk
@twintangibles@twintangibles
Crowdfunding is a method of raising money from a Crowdfunding is a method of raising money from a distributed group of funders (the crowd) who provide a distributed group of funders (the crowd) who provide a large number of small sums forming a significant total large number of small sums forming a significant total
when aggregated together.when aggregated together.
$34 BillionGlobal value of Crowdfunding in 2015
$2.7 BillionGlobal value of Crowdfunding in 2012
TechnologicalSocial and Collaborative tools, Platforms
SocietalEmpowerment, ecommerceEmpowerment, ecommerce
EconomicCapital Constraint, Investment Opportunity Capital Constraint, Investment Opportunity
Cro
wdf
undi
ngG
RO
WTH
Four Models of Crowdfunding
DONATIONDONATION
REWARDREWARD
LENDINGLENDING
EQUITYEQUITY
Funds collected are gifts or donations with no tangible return to the provider.
DONATION
Platforms – Donation
Just Givinghttps://www.justgiving.com/
Yimbyhttps://www.yimby.com/
MyParkScotlandhttp://www.mypark.scot/
“Rewards” or “perks” of different value are offered to supporters to purchase.
REWARD
Platforms – Perk or Reward
Kickstarterhttps://www.kickstarter.com/
Indiegogohttps://www.indiegogo.com/
Crowdfunderhttp://www.crowdfunder.co.uk/
BloomVChttp://bloomvc.com/
A loan is constructed from many small loans collected from the crowd.
LOAN
Platforms - Lending
Funding Circlehttps://www.fundingcircle.com/
Rebuilding Societyhttps://www.rebuildingsociety.com/
Lending Crowdhttps://www.lendingcrowd.com/
Shares are sold in small parcels to a large group of investors.
EQUITY
Platforms - Equity
Crowdcubehttp://www.crowdcube.com/
Seedrshttps://www.seedrs.com/
Crowdfunderhttp://www.crowdfunder.co.uk/
ShareInhttp://www.sharein.com
Additional VariationsAdditional Variations
Keep it allYou get to keep whatever you raise
All or nothingYou get to keep anything only if you reach your target
DIYYou run your campaign “of platform”
Hybrid modelsA mix of funding
Crowdfunding working in all sectors
But...it’s so much more than money!
More diverseMore diverseCloser to marketCloser to marketLower costLower costQuick moneyQuick moneyPatient moneyPatient money
AdvocacyAdvocacyExpertiseExpertiseAsset DevelopmentAsset DevelopmentInward InvestmentInward InvestmentValidationValidation
Understanding Alternative Finance - Nesta, University Cambridge 2014
Non Financial Support
a few
cases
Annan Harbour
£6,002£6,002the crowdthe crowd
£4,500£4,500Envirocentre Envirocentre skills pledgeskills pledge
£10,300£10,300LocalLocal
CouncilCouncil
£22,500£22,500FLAGFLAGMatchMatch
FundingFunding
++
++
++
TOTAL RAISED
£43,302£43,302Crowd raised £6,002
Received £36,000
Reward CrowdfundReward Crowdfund
Average Success Rates
30% 75%with
coaching
How To Do It?
The TAMP Process
TT Targets
AA Audit
MM Method
PP Plan/Prepare
The Purpose of TAMP is to: Establish if crowdfunding is right
for your project. Show how ready you are to
crowdfund. Analyse which form of
crowdfunding is best for you. Build a plan that will help you to
run a successful crowdfunding campaign around.
Targets
Why are you doing this?What do you need?When do you need it?Who are you targeting?
Audit
AssetsSkillsResourcesTools
Method
RewardEquityLendingDonation
All or nothingKeep it allDuration
CrowdcubeKickstarterMyParkScotlandFunding CircleDIY
ModelModel FormForm PlatformPlatform
Prepare & Plan
ResourcesWhat do you need?
Publishing PlanChannels, Content, Timing, Monitoring, Responding
ResponsibilitiesWho will do what?Crowd
Fans, Influencers, Communicators
ScheduleWhen will things happen?
3 Planning Phases
Before
After
During
•Resource development•Testing messaging•Due diligence•Identifying targets•Building awareness & anticipation
•Promotion & outreach•Maintaining momentum•Growing & deepening•Tracking, responding & reflecting
•Fulfilling & thanking•Retaining•Nurturing and growing•Exploring & harvesting
Finding Your CrowdFinding Your Crowd
Primary
Secondary
Tertiary
Followers
Communicators
Influencers
Components of a Good Campaign
Run Your Own CampaignPreparation, Preparation, PreparationGet the Messaging RightGet off to a Good StartMonitor, Respond, UpdateShorter is Generally BetterVideo, Video, Video
WorkshopWorkshopSplit into 4 Groups
•Read Case Study•Discuss It •Make Some Plans•Write It Up
Feedback To The Room 10 Minutes Per Group
5 Minutes
50 Minutes
Be Creative!
• Targets• Audit• Building your crowd• Messaging• Channels• Scheduling
Key AreasKey Areas
Tim WrightTim Wright
Innovative Approaches To Fundraising For Parks And Greenspaces
CrowdfundingCrowdfundingThe Grassmarket Centre
Thursday, 3 March 2016
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