Bernd Fesel

Deputy Director, European Centre for Creative Economy - ECCE

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How can we mainstream crowd-funding and invent a next future for non-profit social businesses?

Ideas worth spreading are also ideas worth realizing. But for many ideas the traditional funding systems of our society are not fit - be it state budgets, bank credits or stockexchange funding. And even foundation have limits - their own expectations and aims.

Social Media Networks create a new form of financing: Crowd-funding is like a flash-payment-mob. Small voluntary contributions of a network of persons with same preferences to a larger aim.

Though this seems like an ideal solution in many ways it does not seem to spread and evolve. There seems to be no crowd-revolution of funding systems - or is there? In germany the first crowding funding platform just started: http://tinyurl.com/43mq6fm

My hope is that crowd-funding can generate the money needed to realize a turn-around in education, health care (in Africa) or safe and green energy. The state will not generate such funds for decades to come.

Please let me know more about best-practice of crowd-funding. What makes it successfull? Are there break-through models or stories?

  • Apr 12 2011: Look at http://patronism.com.

    It's main engine crowdsources ongoing revenue for compelling musicians via pay-what-you-feel subscriptions. This sustained patronage gives patrons unlimited access to that artist's entire stream of creative content, for as long as their subscription is active. They also know that the money is going directly into the creation of more of the very thing that moves them - music.

    And while this site is designed currently for musicians and patrons, they will open it soon to other artists and causes. They even have plans to create profiles for teachers, doctors, and anyone else to provides valuable services to the community. Imagine the salary bonus and retirement a truly excellent teacher could crowdsource over the course of a 30 year career?