FundIt.ie – have you? €5 could help make a creative idea a reality.
I have an addiction. Actually I have a couple but one addiction is feeding the other and fuelling a third. My latest addiction is www.FundIt.ie.
FundIt.ie is an Irish website that allows people to contribute money towards a creative project that they’d like to see happen, in return for a warm feeling and the rewards that the project owners would like to give – everything from hugs to private performances.
Take for example this project by Cherry Wild Productions in Tipperary. UCC Drama/Theatre graduates Aideen Wylde and Tadhg Hickey are bringing “Love All”, their first work as new writers, to the Clonmel Junction Festival in July. They need €3,000 to do it. So, they set up a FundIt Page:
They create a video to explain what you’d be funding
They offer rewards in return for funding the show – everything from your name in the programme to opening night tickets to a performance in your own home:
and they spread the word – so much so they now have €2,580 raised from 78 funders and 4 days to go on the project.
Similar to sites like Boards Deals, your card doesn’t get charged unless the entire deal goes through. You’re taking a gamble or investment on the show in the hope that it will come to happen.
And happening the shows are, apparently.
According to a press release this week, over €100,000 has been pledged online by the public for creative projects in less than 12 weeks, with over €71,500 funding confirmed for 17 successful projects, and there’s over 25 projects currently fundraising live on site.
From the press release:
Over 40 projects have so far gone live on www.fundit.ie, spanning the creative processes from art, design, fashion, theatre, film-making, gaming, festivals, publishing and more. Some 17 projects have passed their fundraising goal, with up to 189% of target achieved so far in one case.
‘Fund it’ allows creative ideas and projects with a specific fundraising target to be promoted on site for a defined period of time. The creators behind the approved projects promote the idea to their own network, online and through traditional media with a view to attracting pledges in return for creative rewards. Pledges to date have ranged from €5 to €1,000, with the average giver pledging over €39 per project. Over 2,500 individual pledges have been made.
Projects fundraising to date have come from across the four provinces, featuring Derry, Cavan, Mayo, Galway, Kerry, Wexford, Cork, Sligo, Wicklow, Kilkenny, Meath, Tipperary, Donegal and Dublin.
Fund it is based on an all-or-nothing approach. When the deadline for a project is reached, if the target is not met, funders’ pledges are cancelled and the project does not get funded. If the target is reached or exceeded by the deadline, all pledges are processed, and income raised is credited to the project creator, less a small commission towards costs.
Fund it has been created by Business to Arts, a not-for-profit organisation working to support resilience and transformation in the cultural sector through research, innovation and partnership.
Ireland’s first crowdfunding site is designed to support greater individual giving to the arts, culture and creative industries and sectors in Ireland. We’ve all heard great ideas that never made it to fruition – Fund it gives the public the opportunity to help make these ideas happen.
I told you at the start of this piece that I have a couple of addictions. One is Theatre. Another is creativity and seeing what people do with imagination. A third is helping people to achieve what they can do, either through facilitation, promotion or just feedback and praise.
FundIt is an easy option to fuel all those for me. I’ve funded a few projects at this stage and look forward to seeing the finished product. It’s a simple thing – a few minutes with the Laser card means I get to say “I helped that happen”, even if it’s only €5. Magic.