A successful fundraising campaign may include using crowdfunding to generate both interest and revenue for the project. Crowdfunding is when an organization raises funds for a cause, program or venture from a large number individuals, donor organizations or funders and investors. This is typically done through online platforms. The best-known sites in North America, Kickstarter and Indiegogo, have demonstrated their usefulness for projects both large and small. However, it may be even more interesting to follow sites in other parts of the world, which are also gaining traction, and taking a place close to Venture Capital in the developing world.
South African sites include:
Thundafund – an online crowdfunding café and marketplace. ‘Designed for Africans by Africans with a commitment to South Africa and Africa, based on belief that by activating one’s own communities, it is possible to build prosperity.
Startme – based on belief that crowd funding is more about the crowd than the funding. Startme has made a big impact on how entrepreneurs, bands, artists and other are funded.
Jumpstarter – 26 campaigns with ZAR 62,700.00 (USD 6,000) funded
FundFind - a new way to fund projects, startups, and innovations in South Africa using the proven method of rewards-based crowdfunding. FundFind is powered by all-or-nothing and keep-what-you-raise funding methods.
Lest one think that only South Africa has joined the crowdfunding model, it is also important to look at Kenya:
M-Changa – enhances fundraising experience and performance by providing secure communication and record keeping capabilities for complete transparency. With over 2,000 campaigns, 13,000 supporters and 50,000 customer interactions, M-Changa is the biggest player in the digital Harambee space. It has integrated mobile money and credit card payments, SMS, email, social networks and geo location. The cross section of platform usage is extremely wide and mirrors trends in all major research in the area of philanthropic giving in East Africa and globally.
The list of countries offering crowdfunding sites as a tool fundraising for projects is growing… with most countries having more than one site: