Welcome > Blog > Business Growth > The Crowd is getting bigger with £2.4m of extra funding
25th July, 2016
As Cavendish Enterprise begins its partnership with Crowdfunder having recently launched Cavendish Crowd (the crowdfunding resource for alternative funding for business starts and growth), it’s great to hear about the additional funding that is also in place and open to applications from eligible Cavendish Crowd clients.
Crowdfunder announced last week a deal which brings extra funding for UK crowdfunders as councils, brands and grant makers to pledge over £2.4 million on local and national crowdfunding projects. The UK’s leading crowdfunding platform is to distribute this money, traditionally given out by councils, brands and community funds via grants or sponsorship, to crowdfunding projects that meet the partner’s funding criteria. A further £1.3m is scheduled to be added to the funding offer over the next 3 months.
Projects, such as those posted on the Cavendish Crowd page, can apply for funding through these schemes, subject to eligibility, using the crowd to validate their ideas with this new route to secure additional funding and support to turn their ideas into reality.
Jason Nuttall, Head of Funding at Crowdfunder Ltd said “At Crowdfunder we believe in not only enabling people to make their great ideas a reality – but ensuring that they have access to as much support as possible along their journey. By distributing funding from partners into crowdfunding projects that have the support of the crowd, partners are not only supporting great ideas, but putting funding into projects that have also been validated by the crowd. The benefits to all are enormous, bringing fund distribution to a new level.
“National and regional partners distributing funds through Crowdfunder include Virgin Media Business, who pledged £50,000 to support start up businesses as part of the VOOM 2016 competition Crowdfunder Award, Dorset County Council who have £200,000 to support innovative youth projects in the county, Plymouth City Council, who have already turned £60,000 of council funding into over £430,000 of funds raised for their community and Creative England, who have invested £80,000 into crowdfunding film projects and £40,000 to discover and support female game developers.”
Phil Geraghty, MD of Crowdfunder added: “Council’s, brands and grant makers are enjoying some valuable benefits. They are able to easily identify projects they want to support with pledges. Partners such as Plymouth City Council have been able to amplify the money they distributed, with money raised for projects from the crowd, and also reduce administrative costs.
“Brands are also able to connect with consumers individually, and create great stories, as they help turn ideas into reality. All partners benefit from greater exposure to large-scale audiences and public engagement alongside positive success stories.”
Recently, Crowdfunder partnered with Virgin Media Business to offer crowdfunding to businesses taking part in VOOM 2016, the UK and Ireland’s biggest business competition.
Scott Wilkinson, Head of VOOM, added, “’Crowdfunder and Virgin Media Business partnered to help businesses and together we’ve turned a £50k match fund into over £700k – and it’s still growing fast.
“Crowdfunding offers a pretty spectacular option for many businesses to reach out and secure their next objective, and our ongoing partnership is helping unleash future economic successes.”
Launch your project with Cavendish Crowd and find information on additional funding with Crowdfunder Plus. Help and support with launching your project and growing your business is available to Cavendish Crowd clients through the Start & Grow programme, a government initiative for start up and growing businesses funded by the Regional Growth Fund.