It’s been observed that backers of crowdfunding campaigns feel connected in some way to the projects they support. They may be friends with, or related to, the project leaders. They may wish to be a consumer of the proposed product or service. Or, they may want the project to go ahead because they believe it will improve their local area.
Some projects, such as the creation of a new computer game, tap into a pre-existing global community. Whereas projects rooted in their local area, such as a community pub or café, reach out to their local community.
Both kinds of project tend to use one of the global crowdfunding platforms, such as Kickstarter and Indiegogo. These global platforms help to create the trust needed between new projects and their backers, who could be anywhere in the world – as in the computer game example.
However, using a global platform may not be necessary for projects rooted in their local community, and clubbing together to create a local crowdfunding platform would have advantages.
A local crowdfunding platform would build a community of backers with a connection to the local area. Enabling new projects to reach an established community of backers who support local projects. And the new backers they attract would increase the size of the community, making it easier for future local projects to attract the support they need.
Creating a local crowdfunding platform would also make it easier to request other kinds of support, such as time, skills, goods or services. Since many people are willing to donate money to local projects, it’s likely that many would also volunteer their time or skills. Local businesses may also donate their goods or services, especially is it can come out of excess capacity.
I guess by definition crowdfunding is about raising money. So perhaps using the same techniques to attract a broader range of resources needs a different name – crowdbacking?