Innovation Exchange

Crowdfund Angus

Introduction

Key activities

Benefits and impacts

Learning

Further Information

Crowdfund Angus is a bespoke crowdfunding platform that allows businesses, individuals and community groups to campaign for funding to achieve their goals.

 

With more competition for funding and grants and reducing budgets, the Funding, Policy and Projects team needed to identify a new dynamic way of supporting local people and initiatives.

 

Crowdfund Angus is a new innovative way of showcasing local projects, ideas and businesses through a video, blog and funding campaign. It is the first of its kind in the UK delivered by a Local Authority.

Theme: Service Transformation

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Crowdfund Angus is about providing a service in the shape of the crowdfunding portal for individuals, communities and businesses to lever in the funding they require to carry out their activity/plan/project.

 

Through this process they can apply for any activity and it is decided by the ‘Crowd’. This process also gives their plan validation through being successfully funded which can unlock traditional funding methods.

 

Stage 1: Idea?

Support available: Contact Angus council funding team for support/advice. Teleconference with Crowdfund UK where needed

 

Stage 2: Create project

Support available: Funding team help with story board. Contacts for help with promotional films where required. No campaign launched until all parties happy.

 

Stage 3: Tell your crowd

Support available: Angus Council help with social media messaging to reach as wide an audience as possible. Further support from Crowdfund UK where needed.

 

Stage 4: The crowd pledges cash in return for rewards

Support available: Rewards can be amended, broadened where a campaign takes off quickly.

 

Stage 5: Crowd shares project with friends

Support available: Marketing base for new company/business/community group is grown as campaign grows. Loyal customer base already growing.

 

Stage 6: Hit target

Support available: Celebrate. If business, further business advice available through economic development service.

 

Through the portal, we work in partnership with local agencies and services such as those in further education, to develop the idea for funding, support the development of a video for their campaign, build up a strong case to get the funding and then launch their project online.

Delivering more for less, innovative business engagement and enriching communities

 

The innovative delivery of the Angus Crowdfund portal is enabling:

 

  • Local people, businesses and third sector have easy access to services delivered by economic development and other council services

  • A very visible platform for business growth at international level and development of customer base

  • Development of skills and real life work experience for students

  • Stimulate and encourage entrepreneurial spirit, vital for our rural economy

  • Empowerment and validation for local people and business sector particularly where traditional funding routes not available

  • Funding decisions made by the community for the community which meets the aims of the Community Empowerment Act 2015

  • Encouraging participants and partners to act as ambassadors of the Angus Crowdfund portal

Outcomes:

 

  • Encouraged growth, employability, tourism, business entrepreneurship and community capacity
  • Campaigns generated 36 volunteering placements
  • Safeguarded 6 jobs
  • Engaged with 655 people through events
  • Attracted international interest and funding
  • Community ownership of projects
  • £90,000 of funding achieved in 6 months for Angus economy

 

Lessons learned:

 

  • It’s not just about raising money. It has reinvigorated community groups who have participated. It has attracted new members and interest to their groups, stimulated discussion and they gain a real sense of achievement through their campaign.
  • It is a good way to teach skills in economic development in an accessible and fun way; marketing, use of digital and social media, business planning and sustainability.
  • Scope for us to extend as a service; we hope to bring in our community grants as a match fund through the portal
  • Business and other ‘traditional’ funders are very supportive of crowdfunding. It allows for proof of market and support for the project.
  • It is important to manage expectations; some can come with unrealistic targets, particularly for business start-up.

See Crowdfund Angus document

Contact details:

To find out more about this case study, please contact:

 

Anne Petrie

Funding, Policy and Projects Officer

Angus Council

01241 438150

Case study added to site: June 2016

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