This data demonstrates Nesta’s research findings last week, after their release of the Rise of Future Finance Report, in collaboration with the University of Cambridge and the University of California, Berkeley. The Nesta report showed a 91% growth in the UK alternative crowdfunding market in the last year.
- Nesta Report finds “explosive growth” of rewards crowdfunding
- 105% increase in successfully funded projects on BloomVC.com
- Money raised doubles from 2012-13
- 84% of projects beat funding targets
“The Nesta report confirms what we already knew about the incredible rise of crowdfunding here in the UK. Throughout 2013, we’ve experienced the “explosive” growth of rewards-based crowdfunding – there has been a more than 250% increase in the amount of money promised by the BloomVC.com crowd since 2012.”“We are proud to be a vital source of finance for start-ups, SMEs, charities and community projects The report is a timely reminder of the incredible potential crowdfunding has in the UK and 2014 promises to be even more exciting.”
BloomVC.com’s 2013 successes also reveal the elements of a successful crowdfunding campaign. The increased success rate might be due to more specific, lower funding targets. The average request for funding was £2,200 in 2013, as opposed to £3,500 in 2012. This makes projects more achievable, but also more likely to exceed their funding – the number of target-beating projects more than doubled since 2012. 85% of projects funded in 2013 exceeded their target amount.