Crowdfunding platform for start-ups that ‘power good’ launches
kriticalmass to help projects source funding, sponsorship and support from volunteers and organisations
A new reward-based crowdfunding platform, kriticalmass, has been announced which will give organisations the chance to join the crowd “for the first time” and allow positive impact projects to raise both funding and support from social ambassadors and volunteers.
Setting out to create a new form of crowdfunding which it dubs as ‘Crowd+’, London-based kriticalmass goes beyond funding a project to offer backers and “supporters” the chance to offer their skills, time or network, alongside, or instead of, finance, to help a business succeed.
Organisations and brands will also be able to champion a project by offering their products or services giving entrepreneurs pitching on the site the opportunity to “make an idea into a reality”.
Once the round has closed, pitch creators then offer rewards for different types of support which can be anything from a branded t-shirt in exchange for a £20 contribution, a movie credit for expert legal advice, or dinner with a supermodel spokesperson in return for £10,000 sponsorship.
The platform has already attracted backing from leading technology investors Tom Teichman, early investor in Moshi Monsters, lastminute.com and notonthehighstreet.com, and entrepreneur Sir John Hegarty, founder of global creative advertising agency Bartle Bogle Hegarty (BBH).
Launched yesterday, the ‘Crowd+’ site is currently featuring several projects including a trek to Greenland to raise funds for spinal research and a film project to recruit volunteers for an online suicide prevention hotline.
kriticalmass co-founder and CEO, Bartolomeo Guarienti, commented: “It takes more than money for a project to succeed.
“We have built a platform where social advocacy, individual funding and the resources and reach of companies come together to make great ideas happen. No other crowd sourcing or funding site can offer this.
“Fundamentally, we want to help visionary creators access the support they need to make a difference, whether that comes from individuals or corporates. kriticalmass is about ‘powering good’ – every project on the platform is focused on inspiring people and improving lives.”
Backer Hegarty added: “The future is going to be driven by businesses that believe in win/win.
“With corporates increasingly required to act as good corporate citizens and hungry for engaging social media content, kriticalmass is the perfect platform to find and champion projects that share their customers’ and employees’ values and passions.”