SoLoCo, launching later this summer, brings to you a brand new way to fund community change using the collective power of crowdfunding.
WHAT IS CROWD FUNDING?
Crowdfunding enables inspirational ideas to be funded by like-minded individuals throughout the UK. By connecting projects directly to supporters, we can support innovative and important activities without having to depend on centralised decision-makers or restricted budgets. We are currently working with projects to for the site launch later in the summer.
Through our site you will be able to find projects of many shapes and sizes, doing a wide variety of amazing things for their community raising funds within an allotted timeline. This could be organisations supporting the arts, environment, animal welfare, young people, old people, heritage buildings, health and well-being. The list is endless.
WHO IS ELIGIBLE?
Any project that is practical, sustainable and rooted in the community. The project needs to be run by an organisation based in the UK, have a bank account, and be able to articulate how your project will benefit your community. Our aim is to help to develop sustainable, independent and thriving communities throughout the UK.
WHO DECIDES WHAT GETS FUNDED?
You do, he does, we all do – there is no central panel of decision makers. If people want it to happen, they can donate what they can. If enough people donate and the project meets its target, it gets fully funded. If not, the project can use that money towards match-funding.
HOW DOES IT WORK?
Each project has its own page, complete with funding summary, project expenditure, time line, Donate button and ‘fundometer’ so people can see how much has been raised so far.
Using your existing networks of users, friends and family, you attract as many followers as possible to help you raise the required funds. This can be through Facebook, Twitter, Email or through your local media. We can give you top tips on marketing yourselves and help you to spread the word.
HOW DOES SOLOCO REMAIN SUSTAINABLE?
There is a project set up fee for each organisation of £40. If your project is successfully funded, SoLoCo receives a commission of 6%, if the amount raised is 99% or below, you get to keep the money, and we charge 9.5% fee. These are included in the project costings.
HOW DO I APPLY?
Email us at email@example.com and we will send you a project information sheet and accompanying guidelines.
WHO IS SoLoCo?
SoLoCo, a Co-operative, has been set up by Kirsty Burnham, John Ayscough and John Keiller who collectively have extensive experience in the Third Sector, Internet and Advertising. SoLoCo is based in the Scottish Borders.
For further information please visit www.soloco.co.uk or receive project updates through facebook.com/solocouk