A growing number of municipalities worldwide are seeing the value in empowering their citizens to take a more active part in their communities.
A civic crowdfunding platform allows municipalities to unlock a huge potential of creativity and funding for local projects while at the same time getting citizens involved in their local community.
Raise money for projects that could not otherwise be realised. By using crowdfunding municipalities can involve citizens and turn a project into a joint venture between the public institution and the local community.
Use crowdfunding as a way to reinvigorate local democracy by offering communities and citizens a way to interact with public projects.
Use a marketplace-led model where citizen demands and institutional supply can meet in a digital structure that is already a part of their day-to-day life.
Strengthen the brand by opening decision-making and investments to include citizens and local organisations, thereby positioning the municipality as innovative, agile and receptive towards its citizens.
With a crowdfunding platform municipalities can...
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The crowdfunding market for municipalities
Future Cities Catapult released a report in 2017 stating that "in the future, crowdfunding will become the de-facto method to assign council resources and budget to local projects." Although there may be some way to go before we reach this level, municipalities in especially the US and Europe are already implementing crowdfunding platforms as a way to create, fund and engage citizens in local projects.
In the UK alone, 45 councils are already actively using crowdfunding. Crowdfunding offers a new way to work with existing structures on citizen engagement mechanisms while at the same time providing a tool to ease some of the pressure on council budgets. These civic platforms also offer a way for local communities and organisations to raise money for and awareness of local projects.
HOW IT WORKS
The Smallbrooks service in the cloud contains all the features needed for crowdfunding. We can therefore create new crowdfunding platforms that are tailor-made for each customer while reusing functionality from a common toolbox and without having to reinvent the wheel each time. This makes it fast, easy and affordable for everyone to get their own crowdfunding platform. It's as simple as that!
Want to know more about how it all works?