Bottom up funding How do you take advantage of the marketplace
Jul 27, 2015
Bottom up fundingHow do you take advantage of the marketplace
The urgency
• 2017 not far away
• Place based strategy from Sport England
• Growing pressure on non-statutory budgets
• Cities like Liverpool out of cash
Participation – what’s working
• Team Social sport (private sector)• Up 24% 2013 - 2014
• Crowdfunding and sport• 2014 > £1.5million• Up 400% on previous year
• Charity sport• Up 8% on year before• 40% of people who do an event get another person to do it
• Events• Up 700% since 2007
• App based exercise• 33% increase year on year – Health apps 87%• 62% women• Apple Healthbook• Googlefit
Common Traits
• Bottom up • Social media
• Marketed• Organised
• Social
Democratisation of sport
• Crowdfunding• An efficient marketplace• Driven by motivated individuals• See something used or have an individual reach their goals
You’ve heard of crowdfunding…
A little
money...
A crowd
of people
A big
difference
People use it to get:
Now there’s a new model…
Equity Interest Rewards
How it would work
Spacehive -crowdfunding platform for civic projects, powered by citizens
People. Companies. Councils. All of us.
Our solutionAn accessible platform for the civic world where citizens can post
projects and everyone can grant fund them.
An ecosystem that helps projects to succeed
Amazing “user experience”
So people can apply for a grant with one tap
Apply
…and for institutions
Industry-wide due diligence for grant applicants
Single due dilcheck by Locality verifies viability of projects on
behalf of potential funders Universal due diligence
enables all funders to back projects with
confidence
Apply
Once verified projects can
apply for multiple grants
with one tapMore projects
successfully funded faster and more efficiently
Project stats
• 86 projects funded worth £2.6m.
• 42% success rate
• Projects that raise 10% of their goal have 77% success rate
• Av “grant” sourced online: £11k
• Av match sourced offline: £22k
• 70% of projects in deprived areas
• 63 funders per project
• 80% of funders “consumer spending”
How can crowd funding work for sport?
• Over £2million in 2015• Facilities
• FA• Cage cricket• Clubhouses
• Participation• Social rugby tournaments• Brixton Bolt
• Excellence• Individuals to events
An example - The FA
• Five 4G pitches into housing estates in London
• Demonstrate community involvement
• FA pledge pitch
• 10% – 20% of funding sourced by local community)
• How it works
• Create a hive
• Projects listed under the hive
• Spacehive supports local organisations through workshops, online and telephone support
Our city partners would wholeheartedly support and celebrate your role
Cage Cricket Court, Westminster
£1k, 7 funders
Sculpture walk, London £142k,
198 funders
Christmas lights, Ripon£10K,
28 funders
High street waterslide, Bristol £5k, 428 funders
Park on a flyover, Liverpool
£45k, 267 funders
New community centre, Glyncoch
£792k, 77 funders
City centre rebrand & paint, Sheffield
£17k, 112 funders
Town centre free public WiFi, Mansfield
£37K, 16 funders
Community café, Frome£11k,
80 funders
Global Garden Global Kitchen£11k,
106 funders
, , Incredible Edible
Bristol£4k,
102 funders
Incredible Edible Rochdale
£9k, 16 funders
Brixton Bolt,London
£450 33 funders