Kyle
As crowdfunding continues to grow in popularity, we’ve seen more and more “civic” crowdfunding sites pop up in the United States. Back in August we brought you an interview with Kansas City startup neighbor.ly and also during the summer we reported on Tampa startup Citizinvestor.
Now our friends across the pond in the UK are getting into the civic crowdfunding space. UK startup Spacehive is offering people in the UK the opportunity to crowdfund civic minded projects. These can include anything from planting a garden, to developing an open neighborhood wifi.
Crowdfunding was sparked and started in the United States with sites like Indiegogo and Kickstarter. In the UK there are already sites crowdfunding startups, like our good friends at Up And Funding. The civic crowdfunding space is new for them though.
Crowdfunding typically exists in two models. There’s an all or nothing model, where the crowd has a goal to raise and projects are funded once all of the money is raised. Other sites like Indiegogo allow people to raise money for projects but every dime goes to the project’s founder regardless of whether or not they hit their goal.
With Spacehive it’s the all or nothing model. Someone with a civic project will go online to their site. Once they create the project and the project is approved by Spacehive, they are free to raise money to their goal. The funds for the project will only be released once the goal is hit giving backers a little more piece of mind that the money is going to what it’s intended for.
We got a chance to talk with the team from Spacehive, about their civic crowdfunding platform and their cool name. Check out the interview below.