Interview with Alan Crabbe, co-founder of Fundbreak
On the first day of the State of Social Media Summit we are going to discuss how the movement of civel society media initiatives can find a sustainable model for the future. How can these social innovative ideas and projects be supported financially? A lot of courage and pioneership is needed here as governmental support is pulling back and support from ‘the market’ is not something obvious (yet).
We are very honored that Alan Crabbe is coming to the Summit to inspire us with lessons learned from the brand new crowdfund platform Fundbreak. Crowdfunding can ofcourse be one of the solutions to the funding problem. Fundbreak has been a succes in Australia and has been introduced recently also in the UK. We spoke briefly with Alan, so here’s a sneak preview for his keynote on Thrusday 28 October, 15.30 hrs in Trouw Amsterdam…
- Can you tell us something about yourself and your ambitions for the future?
“I am a Northern Irishman living in Sydney. I love the outdoor life and have a real passion for working with visual artists and musicians. My new love is FundBreak and it has become my addiction. My ambition for FundBreak is to become the most admired crowdfunding platform in Europe, Australia and in the rest of the world”,
- Why did you start Fundbreak and how is it different from other crowdfund platforms like Kickstarter?
“Last year we had the opportunity to work on a project with a number of visual artists in Australia and learned quite a lot about the creative industry. It became obvious that a large number of artists in Australia were struggling financially. At this time we spotted an art project in Europe that successfully used the power of the crowd to raise capital and get things moving.
This lead us to setting up an Australian platform to raise funds for any project within the creative industry. In effect, FundBreak provides the creative industry an alternative funding source and a tool to engage the fans, friends, family and community. Due to the explosive growth of social networking websites like Facebook and Twitter, it has become much easier and convenient for creative individuals, groups and organisations to involve an audience and independently sell or promote projects.
The FundBreak web platform operates using the same ‘all or nothing’ crowdfunding model as Kickstarter. The key difference with FundBreak at the moment is our approach to the creative industry. We collaborate with creative groups and organisations in the local market so we can provide valuable advice and support for our project creators. We treat each project individually and work to ensure that each project has the best possible chance of success”.
- For whom is Fundbreak and how does it work?
“Fundbreak is a platform and community for creative projects and ideas. It has been specifically developed for artists, musicians, filmmakers, journalists, designers, entrepreneurs, inventors, event organisers, software developers and anyone with a creative idea to raise funds, engage fans and reward supporters. Anyone with a project or idea can post a project on the FundBreak platform.
The project creator must set a funding goal, a deadline to raise the funds (currently a maximum 50 days) and at least one reward. A reward is a tangible or intangible perk you offer in return for the support you receive. Supporting funds usually comes from your fan base, friends, family, social networks and perfect strangers that simply like your project. If the project reaches (or exceeds) its funding goal before the deadline, all the funds will be transferred directly to the project creator. Otherwise, the funds raised are returned to the supporters. This is the “all or nothing” model of crowdfunding”".
- What are the most common issues that you see related to crowd funding?
“Since crowdfunding is a relatively new concept, project creators need to understand the keys to success. The act of crowdfunding is an effort and requires commitment and dedication to succeed. Sending an email to your mailing list and hoping that people will flock to fully fund your project on day one very rarely happens. Successful crowdfunded projects will provide project updates, show appreciation, spread the word through the social networking websites, engage supporters and show passion and determination to make the project happen”.
- Why would people in the Netherlands have to join the Fundbreak platform?
“During the last 2-3 years we have seen two very significant effects. The financial crisis and the explosive growth of social networking. Crowdfunding platforms like FundBreak provides a practical and effective way to involve communities and social networks in a creative way. Creative individuals, groups and organisations can use the platform to engage supporters and raise funds for great projects”.
- How does Fundbreak supports social innovation on the web and when would Fundbreak be succesfull in your opinion?
“Every project relies on community engagement. And it might sound obvious but I think it is quite simple, a supporter must connect emotional with the project creator or the project itself. If there is no connection, project creators must offer supporters great rewards as incentives. To be successful, project creators must engage people and invite supporters to be part of something great”.
If you want to hear more about the possibilities of crowdfunding for your project and want to discuss the state of funding creative & innovative civel society media projects? Join Alan Crabbe and us on Thursday 29 October, 15.30 hrs! After Alans talk there will be a panel discussion with Roy Cremers (voordekunst), Klaas Kuitenbrouwer (Virtueel Platform) and Anna Chojnacka (1%Club) on the future of funding and the pros and cons of crowdfunding.
- Register for the Summit
- More info about the programme of Day 1
