What is Crowdfunding?
Crowdfunding is where people, communities, groups and businesses can contribute a relatively small amount of money, typically via the internet, towards a project or venture which is of interest to them.
Crowdfunding campaigns run for a set amount of time, if the project doesn't gain enough money then the project closes and all the money is returned to the donators.
Why has Aberdeen City Council teamed up with Crowdfunder?
Aberdeen City Council, Crowdfunder and other local organisations will work together to help citizens of Aberdeen realise their full potential.
The city is currently on an exciting transformational journey, and Aberdeen City Council encourages individuals, community groups and businesses to take their project from paper and turn their ideas in to a reality, unlocking the potential with community support through crowdfunding.
Benefits of crowdfunding
People often consider crowdfunding because they need money for their community group or great idea, but there are lots of other powerful benefits.
Validation - Crowdfunding validates your idea and gives you confidence, it proves that people like your idea and will pay or contribute to make it happen.
Funding - You can unlock additional funding.
Marketing - When you create and launch your project you have to really think about how you are going to market your idea. So Crowdfunders learn vital skills when fundraising - they learn how to become superstar marketeers too!
Advocates - Crowdfunding is for life, not just for fundraising. The people who support you and your great idea become a part of your journey and make ambassadors and customers for your project in the future.
How to set up a Crowdfunding project
To start your own Crowdfunding project, please visit Crowdfunding Aberdeen. It just takes three simple steps:
- Create a simple project page on the site, explaining your idea
- Next, tell all the people you know and ask them to share it with their friends, neighbours and networks etc.
- People who believe in your idea will pledge money in return for a reward that they'll receive if your project succeeds.
Top tips for crowdfunding
Be clear about how much funding you need to raise and why. Help the crowd understand what you need the funds for and how this will help your community, business, team, and so on, in the long run. Will you be creating new jobs as a result of your successful project? Will you be able to reduce waste? List all the benefits.
Assign a team. Use the people you have around you to help and make sure your project succeeds. Assign roles to each team member and build a core team of two to five people.
Create a video: Projects with videos are twice as likely to get funded. Keep it short, speak directly to the camera and be clear.
Encourage people to pledge by giving great rewards. Offer at least five rewards. Try to think of 'money-can't-buy' rewards and ask your network what they would like to see as a reward to help with ideas.