ING has partnered with StartSomeGood to launch a new initiative to boost the social enterprise sector through easing access to crowdfunding.Dreamstarter is an online platform that allows social entrepreneurs to raise funds towards an array of social change projects — those that garner significant community support receive additional funding from ING.“Crowdfunding is a participatory model that democratizes corporate philanthropy,” said StartSomeGood co-founder Tom Dawkins. “The projects that will succeed are those that have a genuine mandate from the community.”
ING has partnered with StartSomeGood to launch a new initiative to boost the social enterprise sector through easing access to crowdfunding.
Dreamstarter is an online platform that allows social entrepreneurs to raise funds towards an array of social change projects — those that garner significant community support receive additional funding from ING.
“Crowdfunding is a participatory model that democratizes corporate philanthropy,” said StartSomeGood co-founder Tom Dawkins. “The projects that will succeed are those that have a genuine mandate from the community.”
Ten ventures by social entrepreneurs that graduated from the School for Social Entrepreneurs Australia will launch during the initial round of fundraising through the Dreamstarter platform. The first enterprises to go live include Enterprise Learning Australia, a project to connect remote Aboriginal entrepreneurs to new markets via an online store; and Empower, an initiative to help rural communities in Malawi to achieve greater self-sufficiency.
The crowdfunding platform has the potential to break down many of the traditional barriers social entrepreneurs face when attracting support for their ventures, ING says.
“The Dreamstarter Campaign is a fantastic way for start up social ventures to raise their profile, attract critical seed funding and inspire others to create change in their communities,” said Hodson.
Crowdfunding has become a potent and popular tool for getting social enterprises off the ground. Australian start-up Who Gives a Crap, which produces eco-friendly toilet paper and gives half its profits to WaterAid, last year launched a successful Indiegogo campaign that raised over $50,000. The community funding gave the company the capital it needed to produce its first toilet paper rolls.
Published Apr 19, 2013 11am EDT / 8am PDT / 4pm BST / 5pm CEST
Managing Director, Sustainability & Social Impact
Deutsche Bank
Mike Hower is a sustainability communicator and connector committed to helping purpose-driven businesses and people unlock their full potential for positive impact. As founder and principal consultant at Hower Impact, he works with companies to translate sustainability strategy into stories that inform, engage and inspire investors, customers, employees, regulators and other stakeholders in the service of social, environmental and business goals. Through his Impact Hired initiative, he works to connect and engage corporate sustainability professionals at all stages of their careers.
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