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Cultural initiatives benefit from crowdfunding model

Work & Lifestyle

We’ve seen numerous industries employing the crowdfunding model to help projects get their feet off the ground, from social enterprises to breweries to telecommunication and web startups. We’re now seeing that same model applied to cultural startups, through Swedish CrowdCulture. The crowdfunding platform – originally run in beta in cooperation with Fonden för Innovativ Kultur – works by hosting various cultural ideas and projects for its members to fund with investments of SEK 50. The projects differ greatly in their content and plans, and include dance, theater and puppetry, among others. In order to submit and idea for funding or to submit a payment to fund an existing project, it is necessary to purchase a paying membership at SEK 100. Otherwise, it is possible to become a member for free, giving users the opportunity to feedback and give advice to the hosted projects in order to help them develop. During CrowdCulture’s three month beta period nearly 500 people participated across 28 projects, ultimately leaving 6 fully funded. CrowdCulture has just received an offer for continued partnership from The City of Stockholm, meaning it can continue to lend a helping hand to artistic and cultural projects still in their infancy. We’ve no doubt that the crowdfunding model can give a boost to projects in almost any industry. Time to apply it to your own? Spotted by: John Greene



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