Belfast City Council has teamed up with Crowdfunding platform Crowdfunder to run a new £50,000 crowdfunding competition specifically for projects in Belfast.
While most startups and social enterprises will use investment or financing to get off the ground, an increasing number of businesses are turning to crowdfunding to secure their funding. Crowdfunded projects ask the general public to donate small amounts toward a specific funding goal, and in exchange they get rewards relating to the project.
Projects can be as small as a few thousand pounds and can be for anything from creative projects such as music and documentaries to charity events and starting businesses that help the local community. The kinds of projects that tend to be successful on crowdfunding are those that may find it difficult to secure traditional finance and causes that people can get behind.
Belfast City Council is now running a competition to help Belfast-based social enterprises realise their crowdfunding goals, with 10 awards of £5,000 each earmarked for 10 winning projects that can make a difference in Belfast. To be eligible to enter the competition, the business must be a Belfast-based social enterprises or co-operative and must completed or currently be completing Belfast City Council’s "Go Social" programme.
Entries are open now and close on Monday 3rd February at noon, with the winners to be announced on Friday 7 February. The winners will then get £5,000 donated toward their crowdfunding campaign set up on Crowdfunder, putting firms £5,000 closer to their goals and also helping to stimulate further public donations. The winners will also ge texpert coaching to help make their campaigns successful.
Councillor Ryan Murphy, Chair of Belfast City Council’s City Growth and Regeneration Committee, commented on the competition: "We’re delighted to partner with Crowdfunder to help Belfast based social enterprises and co-operatives which have received support through our Go Social Programme launch ideas which will help communities. Enhancing quality of life in Belfast and boosting the economy are two key objectives in The Belfast Agenda and this competition will help us to make progress on both."
If you have a project that's eligible for the competition, head over to http://www.crowdfunder.co.uk/programmes/projects-that-matter-belfast and submit your idea for a chance to win.
Source: Written based on press release
