On Monday, Crowdfunder UK announced it has created a new way for projects to secure additional funding and support to turn their ideas into reality. The crowdfunding platform is set to distribute funds, which is traditionally given by councils, brands, and community funds through grants and sponsorships, to campaigns that meet funding criteria.
The Crowdfunder UK team stated they have now secured over 2.4 million to support community, charity, business and individual projects across the UK with an additional 1.3 million to be added in the next three months. The following businesses are teaming up with Crowdfunder UK to support the campaigns:
- Virgin Media Business: Pledged 50,000 for startup businesses
- Dorset County Council: Offered 200,000 for innovative youth projects in the county
- Plymouth City Council: Already turned 60,000 of council funding into over 430,000 of for their community
- Creative England: 80,000 invested into crowdfunding film projects and 40,000 to discover and support female game developers
Crowdfunder UK reported projects that crowdfund on the platform may seek additional funding opportunities ranging from £500-£10,000 per project depending on eligibility. Jason Nuttall, head of funding at Crowdfunder UK, commented:
“At Crowdfunder we believe in not only enabling people to make their great ideas a reality – but ensuring that they have access to as much support as possible along their journey. By distributing funding from partners into crowdfunding projects that have the support of the crowd, partners are not only supporting great ideas, but putting funding into projects that have also been validated by the crowd. The benefits to all are enormous, bringing fund distribution to a new level.”
Phil Geraghty, MD of Crowdfunder added:
“Council’s, brands and grant makers are enjoying some valuable benefits: they are able to easily identify projects they want to support with pledges. Partners such as Plymouth City Council have been able to amplify the money they distributed, with money raised for projects from the crowd, and also reduce administrative costs. Brands are also able to connect with consumers individually, and create great stories, as they help turn ideas into reality. All partners benefit from greater exposure to large-scale audiences and public engagement alongside positive success stories.”
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