Topic 1 Crowdfunding: definition and case studies

  • Crowdfunding is an alternative way of raising funds from a large number of stakeholders for the implementation of a topic, issue or idea, mainly online.
  • From all the interested parties, everyone offers a small amount and, finally, the respective financial goal is covered.

Crowdfunding

  • Funding projects relevant to  culture, sport, art, education, volunteering etc. (e.g. Cultural heritage preservation, fundraising about artwork repatriation)
  • Valuable tool in organisation’s funding
  • The simplest form: utilisation of a social media platform and the tools it is offered for the presentation of the idea and its promotion through social networks

Image source: https://pixabay.com/

Valuable suggestion: crowdfunding website

  • GoFundMe.com: website that provides the opportunity of fundraising
  • Quick, safe and free of charge fundraising website used by individuals or organisations.
  • The users are able to create their own profile and explain fundraisings expected grant.
  • The donation is realised by using credit card and in parallel the user can check the funding procedure.
  • Through this website, there is the opportunity to get a sponsor for any kind of project (culture, art, education, NGOs, medical care etc.).
  • https://www.gofundme.com/

Case studies: Notre-Dame de Paris

  • Notre-Dame is a recent example that shows how the fundraising process facilitated its restoration.
  • After the destruction in 2019, the global community organised a crowdfunding campaign, in the name of the monument’s historical importance and cultural value. The campaign raised an adequate fund (up to 750.000.000 euros) for the restoring activities.

Image source: https://pixabay.com/

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