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RSA Catalyst Crowd funding Programme
Uday joined a number of fellow experts on the 14th of November to challenge, guide and assist a further cohort of RSA Fellows who are seeking to raise funding for their social enterprise projects through crowd funding.
A challenge for many of the participants is to think beyond the specific event that they are seeking funds for and to demonstrate that they have thought about long term sustainability and that their intervention will have demonstrable social impact.
Bryan Zheng Zhang who is researching crowd funding at Cambridge gave a summary of tips given by Indegogo’s CEO at the Disrupt Europe Conference:
- A video will give you 114% more money than not having a video
- If you keep your audience updated every 5 days or less you will generate 4 times the amount compared to updating the audience every 20 days or more
- Engagement requires being proactively marketing to potential supporters the most effective method is email, then Facebook then Twitter
- You are 5 times more likely to hit your target if you can reach at least 25% of your overall goal within the first week
More on the RSA Catalyst initiative can be found at www.rsa.org.uk