Crowdfunding Taxonomy Spreadsheet and Preliminary Thoughts
Suresh Fernando
I have created a Google Spreadsheet with the various crowdfunding projects that I have taken a look at. I have invited, and given edit rights to, a few of you that have already shown interest.
Please let us know if you want to collaborate on this aspect of the project. I can give you edit rights!
The larger objective is to analyze this space so that we can figure out what sort of model we can develop to support change agents and those that are seeking early stage funding for projects. By and large those that are working on truly innovative projects have a hard time raising the initial $20K or so which can make a huge difference....
My thoughts on the early stage social finance space are roughly as follows:
- There is no where near enough money for pre-proof of concept projects (those that are at a highly speculative stage in their evolution
- There needs to be a much wider dispersion of smaller amounts of funds as opposed to big chunks going to a few 'scalable' projects
- Crowdfunding is ideal for raising smaller chunks of money...
- The music industry is developing an interesting model that involves more direct fan engagement with the projects. I think this model needs to be understood and generalized. The important feature is that the funder/fundee relationship is naturally bridged. How can we, as change agents, learn from this model?
- None of the models have much in the way of collaboration infrastructure that is designed to connect and evolve a partnership between funder and fundee
- Virtually none of the models are set up to accommodate for recurring revenue. Instead of trying to raise $10 for a singular project, doesn't it make more sense to try to raise $20/month from 1000 people?
- Virtually none of the models support pooling of funding resources: this is natural in a crowdfunding model, but it might be worth considering crowdfunding and investment pool that will..
- Focus on financing pools of synergistic projects... the theory of which I discuss in the Ecosystem Pooled Fund Model
Suresh Fernando
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Suresh Fernando
Thanks for checking in. I was just reading about the Big Venture Challenge... It's great that UnLtd is focusing on the early stage of the funding cycle.
As should be obvious from our conversations in the past, all the things I have been working on within the social finance space, as well as my recent foray into exploring the crowdsourcing space, the problem that I think needs to be solved if we really want to scale the number of social finance projects, is at seed financing level.
There needs to be more high risk capital; capital that is usually allocated by 'angel' investors in the traditional funding cycle.
I'd like to extend my research to full coverage of this space.
Would you, or anyone else, be able to point us to organizations anywhere in the world (or lists, research etc.) that provide high risk capital to social entrepreneurs?
Any help in better understanding the nuances of this space would be appreciated. In keeping with everything I do, this info will be made available to everyone and will be set up in an open collaboration space.
Regards,
Suresh
Useful summary...
Jonathan Jenkins
Director of Ventures
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