Esmee Fairbairn Foundation, a UK grant-making foundation, has launched a £200,000 funding pot for projects financed via Spacehive, a UK donation-based crowdfunding platform, according to a post on Spacehive’s website from last week. This is the first crowdfunding-related financing that the company provides. As of 28 September, 2016, individuals and organizations can receive from the amount up to £2,500 and £15,000, respectively, to fund their projects if they fit certain criteria.
Funds from the pot will be allocated to projects in Hull, Manchester and the London Borough of Lewisham. They will back projects with communal significance in these areas, concerning arts, culture, food or green initiatives, among others.
“Crowdfunding is an amazing way for people to decide what happens in their environment and democratise the way community projects are run,” said Caroline Mason, CEO of the Esmee Fairbairn Foundation. “The aim of the initiative is to fuel a more efficient, impactful, and accessible approach to grant funding local projects across the UK,” she added.
Esmee Fairbairn Foundation usually grants money to organisations with the ideas and ability to achieve positive change. projects that receive genuine community support and demand alongside individuals, the council and local businesses.
The Spacehive platform is especially designed for civic projects, or “neighborhood improvement projects”. It helps fundraisers find big backers like businesses and councils. The average value of project financed via Spacehive is £26,500 and the total value of all projects so far exceeds £5.1 million. Spacehive is one of the leading UK crowdfunding platforms.