Reach your goal with crowdfunding
Thursday 16th March, 2017
If you’re looking for a way to help fund the installation of superfast fibre in your community then why not consider crowdfunding?
Crowdfunding is a great way to raise money, awareness and support for your campaign.
It’s based on the idea that a number of people can split the cost of something – in this case fibre broadband – through making pledges.
Everything is done online meaning the whole process is simple, quick and efficient. What’s more, with crowdfunding everything is transparent. Supporters, donors, and anybody connected with a project can check on campaign progress or see who’s donated. No money is collected until the fundraising target has been achieved.
Crowdfunding platforms also help extend the reach of projects potentially helping to attract a wider group supporters and reach targets more quickly. In essence, they are a great way of both bringing communities together AND spreading the word.
Crowdfunding really helps
An increasing number of communities up and down the UK have turned to crowdfunding as a way of raising money for their fibre installation projects.
A good example is Berkshire-based broadband campaign group ‘Faster Broadband for Twyford’.
Members of the group set up a project using Spacehive, a crowdfunding platform for projects recognised crowdfunding service, to help them raise around £10,000 needed to get fibre into their community. Thanks to crowdfunding, that target was reached in a matter of weeks.
Similarly, when the residents of Tattenhoe Park in Milton Keynes needed to raise over £2000 to match fund a grant to get faster broadband they set up a Spacehive page too. Pledges quickly rolled in and now fibre is set to get rolled out to their community.
And residents of Wellow near Bath have also secured a community fibre broadband solution for their village via crowdfunding their costs. It took little over a week for their crowdfunding page to attract the amount they needed and now 90 households in the village are looking forward to greatly improved broadband speeds.
Unleash the power of the crowd
Matt Lloydfrom the BT Community Fibre Partnerships programme explains the rising popularity of crowdfunding.
“It’s all about the unleashing the power of the crowd,” he says. “Crowdfunding is well suited to helping people raise money to get fibre into their communities. Because it’s all done online, everything is completely visible and campaign progress is made absolutely clear.”
Adds Matt: “People can give money of course - and they’re free to donate whatever they can afford. They can also contribute ideas and offer encouragement – all of which can help bring success that little bit closer.”
We're here to help you with crowdfunding...
BT’s Community Fibre Partnership team is fully geared up to offer you and your community advice and support for your crowdfunding project.
Whether you’re a completely new to the idea of crowdfunding or just want to know how to get started, we in the Community Fibre partnership team can help.
...working with Spacehive
We’ve been working closely with Spacehive to help hard-to-reach communities get access to fibre via a package of co-funding and support.
Spacehive can help you to attract fans and volunteers, build mailing lists and spread the word using social media. Using Spacehive helps you with logistics of raising funds and collecting the money.
You’ll also get all the technical support you need as well as a wealth of online resources, marketing tools and guides.