A new innovative way to raise cash for community-led projects through crowdfunding will be proposed at next month’s Cabinet.
On Wednesday 8th February, the Council will put forward a proposal to set up Crowdfund Derby, through the company Crowdfunder UK. This will be a new initiative to encourage and enable local groups to raise funds for schemes that really matter to them.
Derby City Councillor Martin Rawson, Deputy Leader and Cabinet Member for Communities and City Centre Regeneration, welcomed the proposal to allocate £60,000 to contribute to future Crowdfund Derby projects. He said:
This proposal is not about the Council delivering an additional service to the community it’s about empowering the community and letting residents decide what projects and solutions are best for them.
Crowdfund Derby is an exciting, modern and fresh approach that enables local community groups and charities to raise money for important and innovative causes in their neighbourhoods.
These projects could have a real positive impact on residents’ lives and at the same time, complement the statutory services provided by the Council.”
Councillor Rawson said Crowdfund Derby would be driven by a number of different people and organisations, rather than the Council, who are all keen to make a difference in Derby.
It would also provide charities, local groups and voluntary services with greater opportunities to connect with a wider range of supporters and increase investment from a global community. He added:
It has the potential to drive social change and innovation in the city, because local people get to choose and finance what community initiatives merit financial investment.
Other local authorities have adopted the crowdfunding model to great success and it would be good to apply this here in Derby.”
Already championed by some local authorities in England, crowdfunding works by securing small contributions from a large number of sources rather than large contributions from a few.
Plymouth City Council contributed £60,000 across 105 community projects, of which 39 percent were in deprived wards. Through crowdfunding the projects raised £433,000 from a global community of which 54% of people who pledged funds were from outside Plymouth.
If the proposal is accepted then Crowdfund Derby will be launched later in the year.
Published: Wednesday 1st February 2017