On Thursday, Crowdfund UK announced it was teaming up with Nesta, Heritage Lottery Fund and Arts Council England to distribute 250,000 towards arts and heritage campaigns as part of a new crowdfunding program.
According to the UK-based funding portal, the program will give a series of specially-selected crowdfunded projects up to £10,000 – or 25% of their total target amount received in donations – in matched funding. The platform will also manage the distribution of the partner funds into eligible projects, and the campaigns will be broken down into two key sectors:
- One will be backed by £125,000 from ACE and will award match funding to eligible individuals looking to launch arts projects in England who can raise the other 75% of their target funding amount.
- The other will be backed by £125,000 from HLF and will provide funding to selected organizations planning projects in the heritage sector in Scotland, North-West and South-West England who can raise the other 75% of their target funding amount.
Crowdfunder UK’s team also noted that not only will the initiative benefit a variety of projects; it will also test the effectiveness of matched crowdfunding as an innovative way of funding arts and heritage projects. Minister of State for Digital and Culture, Matt Hancock, stated:
“UK arts and heritage are admired around the world. Continued public funding and private investment has a vital role to play in ensuring these sectors continue to thrive. I’m delighted that this innovative crowdfunding pilot will explore exciting new ways to support private investment and develop sustainable fundraising models across the country.”
“We are delighted to be partnering with Nesta, Heritage Lottery Fund and Arts Council England on distributing a total of £250,000 to arts and heritage crowdfunding projects across the UK. We are seeing huge growth in crowdfunding for arts and heritage projects having already raised in excess of £5m on Crowdfunder. This is a great opportunity for cultural projects to unlock extra funding with the support and validation of the crowd.”
For those interested in participating in the program, click here.
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