Frequently asked questions
The Better Bristol match fund campaign aims to support and promote the activities of organisations in the city with a passion for positive change.
Whatever your level of understanding and experience, we hope that our workshops and coaching from Crowdfunder UK will equip you with the knowledge needed to run a crowdfunder campaign. Many of your crowdfunding questions will be answered as part of this coaching, but you may have some initial queries about the process before submitting an idea.
If you have a question that’s not answered here, please contact us on 07957 628223 or firstname.lastname@example.org.
What is crowdfunding?
Crowdfunding is a means of funding that allows individuals to make their ideas a reality with the power of the crowd. Rewards-based crowdfunding enables people to raise the amount they need to get their idea off the ground by asking people to pledge money for items or experiences via a webpage which they create on an online crowdfunding platform. You can read more here.
How does the Better Bristol match fund work?
Think of Bristol Green Capital Partnership CIC as a project backer. We have a pot of money to distribute, so when you have raised 50% of your target from a minimum of 40 backers, we’ll provide the rest. But we can only back projects until our £40,000 pot runs out, so the projects that gain backers quickest will be more likely to receive the match fund.
What level of funding is available?
Bristol Green Capital Partnership CIC is distributing a total of £45,000.
£40,000 will be distributed in grants of between £3,000 and £4,000. These amounts will be dependent on your total crowdfunding target. For example, if you need to raise £8,000, you will need to crowdfund £4,000 to be eligible for a £4,000 match-fund (50% of your overall target).
A remaining £5,000 will be awarded to a project that is decided by a panel of judges to demonstrate an exceptional commitment to inclusion and equality in their aims.
How will the funding be processed?
The money pledged by backers of your project will be processed through the Crowdfunder UK platform. As the projects will be ‘all or nothing’, you will need to reach your crowdfunding target to receive any of the funds pledged. It is essential that you familiarise yourself with the terms and conditions of Crowdfunder UK. This will also be covered in the workshops and coaching.
Any match-funding provided by Bristol Green Capital Partnership CIC will be subject to additional terms and conditions.
Do you offer any support or guidance?
You can read a little more about crowdfunding here. If you think you would like to give it a go, and your project fits with the aims of the Better Bristol match-fund, then the most important thing to do is get your idea to us using the online form.
We will be holding a workshop in Bristol on 3 and 4 May 2017, running a series of webinars, and the Crowdfunder UK coaching academy will be available on the phone to provide ongoing support and guidance – helping you get ready to launch your crowdfunding project on 1 June 2017.
In addition to this, all projects in the Better Bristol match-fund campaign will be promoted by Bristol Green Capital Partnership CIC from the launch date on 1 June. This will include social media, newsletters and media outreach. There will also be an invitation to attend the Green Mingle on 1 June 2017 to promote your project.
If you have any questions about the process or your eligibility, do not hesitate to contact us.
Do I need to explain what the money raised will be spent on?
This will be covered in the workshops and coaching as you prepare your crowdfunding project. Any crowdfunding campaign that you run will need to provide an overview of what you will do with the money and what you will deliver, and that’s an important part of persuading people to back your idea with cash.
We do ask that all Better Bristol crowdfunding projects should be for new ideas or the development of existing initiatives, not for your day-to-day operating costs. We appreciate that some projects can only happen with paid staff and this may be a part of your project, however salaries or consultancy fees should not be how you will spend the majority of your funds.
How do you define the city of Bristol?
Your organisation and the project needs to be based in the City of Bristol. This includes all the areas within the council’s boundary map.
Does the crowdfunding campaign and project need to be delivered by a constituted organisation?
No. But you will need to provide details of a ‘sponsor organisation’ if your group doesn’t have a legal status and a bank account. This sponsor organisation should have both of these and agree to receive and administer the funds for you. This sponsor organisation will be accountable for the funds you receive from Bristol Green Capital Partnership and will need to sign an agreement to receive the funds. Providing that any funding received is used solely for the project delivered by the voluntary group, the Better Bristol criteria for the size and turnover does not apply to the sponsor organisation.
Why is BGCP working with Crowdfunder UK?
On a city scale, projects and ideas can have real impact on local issues and global sustainability challenges. Over the past two years, the Partnership has been working with, and talking to, various organisations about how we best support this continual stream of ideas and projects in the city. We started a conversation with Crowdfunder UK in 2015 to look at how a city scale crowdfunding platform could support the sector.
Since launching in 2015, the ‘Better Bristol’ initiative has provided over 120 hours of coaching and catalysed over £190,000 to help community groups, businesses and organisations make their great ideas a reality. Central to Better Bristol has been the offer of coaching and advice to members of Bristol Green Capital Partnership and other organisations in the city that will not only support their crowdfunding projects, but build better skills and knowledge for their future marketing and fundraising.
Who are Bristol Green Capital Partnership CIC?
Bristol Green Capital Partnership Community Interest Company is an independent membership organisation determined to harness our city’s enormous energy for positive change to achieve the vision of a sustainable Bristol with a high quality of life for all. We help our members to connect, collaborate and participate in creating the change needed for this vision to become a reality.
To learn more about the Partnership and becoming a member, visit: www.bristolgreencapital.org/join
Who is Crowdfunder UK?
Crowdfunder is a community of over 400,000 people who are funding the change they want to see. Together we have funded business ideas, charities, people in need, community groups, sports clubs, political movements and much more. We believe that people should be empowered to make the change they want to see, and by unlocking funding from the crowd we can unlock a beautiful future. Learn more