TSIP LAUNCHES PRACTICAL GUIDE TO MATCHED CROWDFUNDING FOR TRUSTS, FOUNDATIONS, GOVERNMENT DEPARTMENTS AND BUSINESSES
‘Putting the pieces together: A practical guide to matched crowdfunding’ is aimed at funders that are interested in funding projects with the ‘crowd’ by awarding grants to projects that are crowdfunding. The report offers an overview of what matched crowdfunding is, who’s involved and different approaches along with insights and advice from experienced match funders, grantees and crowdfunding platforms. Click here to open the report.
TSIP first began talking to funding institutions about crowdfunding back in 2016. Almost exactly two years ago we ran a roundtable that brought six grant-makers together to talk about some of the exciting things we saw happening on crowdfunding platforms – the grassroots, DIY nature of many of the projects; the innovative ideas being put forward by everyday people; the conversations that campaigns were sparking between fundraisers and the community members they hoped would back them…
The question at the time was whether it would be possible to combine crowdfunding and grantmaking in order to achieve greater impact. By the time we revisited the topic a year later, many of those initial funders had set aside designated funds to support social and community projects on crowdfunding platforms. This is known as ‘matched crowdfunding’.
Over the last year, matched crowdfunding has really taken off. Dozens of funders – from local authorities to trusts, to corporates – have begun experimenting with ways of making grants alongside the crowd. These funders are looking to get the best of both worlds; combining grantmakers’ expertise with the ‘wisdom of the crowd’, institutional and private funds and innovative ideas with trusted institutions.
Despite the high numbers of funders involved, matched crowdfunding is still new and many funders are finding their feet. We were keen to understand whether matched crowdfunding was delivering the intended benefits and how funders were making it work in practice.
Over the last year, thanks to a grant from the Mark Leonard Trust, we have been speaking to funders, crowdfunding platforms and recipients of matched crowdfunding grants about their experiences.
Today we launch - ‘Putting the Pieces Together: A Practical Guide to Matched Crowdfunding’ – a resource for funders that are interested in matched crowdfunding, that brings together insights and advice from those we spoke to.
At TSIP, we are committed to working with communities and enabling more people to play a part in tackling social issues. We see matched crowdfunding as one way in which institutional funders can involve communities in decision-making and support more diverse social leadership – by giving the public a say in what gets funded and lending their support to grassroots campaigns to address local issues.
We hope that the guide helps those who are interested to make the most of it. Let us know your thoughts @TSIPtweets.