UK community football club raises cash using Internet 'crowdfunding'
A local community football club based in Leicester, UK raises funding to create a documentary about the positive effects of football on young people, using an innovative new concept known as 'crowdfunding'.
- (1888PressRelease) December 15, 2011 - Karma Football Club, based in Hamilton, Leicester raised £415 (103% of their target) on 8 December 2011, using the new internet phenomenon 'crowdfunding'.
They wanted to raise the money to create a documentary on the positive effects of football on young people and how it can also be used as a tool to develop them academically, socially and mentally. In return for contributions, they were giving away football t-shirts, copies of the DVD and advertising space on their website, amongst other rewards.
They had a total of seven funders who contributed to the project, with contributions ranging from £5 to £250!
Crowdfunding is a new phenomenon which allows creative and social organisations to raise money for their ventures, from the 'crowd' (friends, family, fans of the creators and the general public). In return for contributions to projects, funders receive non-financial rewards.
Karma FC used Fund 'R Venture, a fundraising platform, which helps social and creative organisations raise money through crowdfunding and public funding.
The two young entrepreneurs behind it, Aashish Parmar (21) and Andrew Cropper (25), recently won a Future 100 award, sponsored by Ernst and Young, for creating a business with a triple bottom line i.e. addresses people, planet and profit. Through the public funding service, they have raised upwards of £120,000.
Aashish Parmar said,
"The website was launched on 14 October and Karma FC was the first project to be funded via our crowdfunding service. We are so pleased with their success and that they are now able to produce their documentary."
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