Crowdfunding Webinar 2011
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Crowdfunding: Fundraising on the Edge February 28, 2011 Zerodivide.org - @ZeroDivideOrg - facebook.com/ZeroDivideorg
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Crowdfunding leverages the power of the online crowd to raise money for charities and start-up businesses. This webinar provides an overview of the latest fundraising trend called "crowdfunding." Three leading crowdfunding experts and innovators as they discuss crowdfunding models and how nonprofits and social enterprises can raise money and gain greater exposure through these web-based platforms. Colin Mutchler is the Co-Founder of LoudSauce, Josh Tetrick is the founder of 33Needs and Tom Dawkins is co-founder of StartSomeGood.
Transcript of Crowdfunding Webinar 2011
Crowdfunding: Fundraising on the Edge
February 28, 2011
Zerodivide.org - @ZeroDivideOrg - facebook.com/ZeroDivideorg
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Speakers
Tom Dawkins,
Colin Mutchler, LoudSauce.com
Josh Tetrick, 33Needs.com
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Straw Poll Question #1
Are you representing a…?
a)Nonprofit organization
b)For profit
c)Consultancy
d)Foundation
e)Other
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Straw Poll Question #2
Are your learning goals to…?
a)Understand what crowdfunding is & how it works
b)Find a platform to suite my needs
c)Know how to launch a campaign
d)All of the above
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Lots of Crowdfunding Platforms & Initiatives
Source: http://www.smartermoney.nl/?p=35#platforms
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But what actually is “Crowdfunding”?
According to Wikipedia:
• 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.
• From disaster relief to citizen journalism to artists seeking support from fans, to political campaigns, to funding a startup company or small business or creating free software.
Source: http://en.wikipedia.org/wiki/Crowd_funding
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Why is “Crowdfunding” emerging now?
• A version of fundraising for the age of social media.
• Individuals in crowds are able to play a semi-public role in supporting what they believe in.
• Funding between a few hundred and ~$10,000 a gap in traditional fundraising sector.
• For orgs and individuals, crowdfunding plays a promotional role in addition to fundraising.
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Comparing some Crowdfunding Platforms
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Lessons from successes
• Make a strong personal video that asks for support and invites participation in your journey. It’s the most effective way to motivate your supporters.
• Be creative and personal with your rewards, which don’t need to be physical or cost money. Make them unique to your project or organization.
• Design for the full arc of your fundraising period from kick off, to updates and early successes, to the final push. Prepare a story for your success.
• For Non-profits and social organizations, use crowdfunding as much for building audience as for the actual funds.
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•March 22, 2010
© 2010 AP Photo/Color China Photo/Li Huang© 2010 AP Photo/Color China Photo/Li Huang
Millions want to invest in good. We enable them @ 33needs.com
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Misiones, Argentina
•September 26, 2010
© 2009 AP Photo/Anupam Nath
need + idea = 1 million pairs given away in only 4 years
Misiones, ArgentinaMisiones, ArgentinaSeptember 23, 2010September 23, 2010
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Tech is cool; being human is cooler
Concrete projects
Lessons
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33
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Stories, stories, stories
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What:
• Crowdfunding platform for social good initiatives
• Allows for-profit, nonprofit and unincorporated groups to raise funds
• A “kickstarter for social change”
• Launching today!*
• International: Initial ventures from USA, Australia, New Zealand, Singapore, Philippines
• Campaigns blended with profiles
*I hope!
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Current Models:
All-or-nothing Keep What You Raise
Ie.: Ie.
Pros: Pros:
Game dynamics Guaranteed money/no risk
Security of outcome Security of income
Cons: Cons:
Insecurity of income Insecurity of outcome
Lack of info/context Lack of info/context
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Our solution - The Tipping Point Model:
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What makes StartSomeGood Unique?
• Social impact focused
• Allows all legal structures
• Tipping-point model
• Project/profile blend
• Non financial support
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Ventures:
BalbusSpeech - rethinking speech language pathology
Maternova - improving maternal health in West Africa
GreenSoul Shoes - 100% up-cycled sandals
Inspiring Stories Trust - Youth filmmaking for good
Gumball Capital - spreading social enterprise to youth
UnCollege - Independent learning community
Performance Capital - Building water wells in Senegal
Wildstar Farm - sustainable farming and education
Hair Flare for Hope - fun and funky wigs for kids with cancer
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Case Study – How to fund a Social Enterprise?
• New nonprofit venture
• Housed within existing community-based organization
• Multimedia production house run by youth
• Customers are nonprofits, schools, small business
• Want to fund startup costs & nonprofit projects @ $15,000
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Case Study 2 – How to fund an entrepreneur?
• New unfunded project idea
• Nonprofit staff outsourcing exchange
• Need to raise $5,000 in startup capital
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Contact info
Tom Dawkins, StartSomeGood.com
[email protected] @tomjd @StartSomeGood
Colin Mutchler, LoudSauce.com
[email protected] @activefree
Josh Tetrick, 33Needs.com
[email protected] @joshtetrick
Paul Lamb, ZeroDivide
[email protected] @plamb @zerodivideorg
