What‘s in it for development aid?
Crowdfunding is the latest fundraising buzz word. One project, one website, through which hundreds or thousands of donors not only raise money for their cause but also spread the word all over the Internet by asking friends and followers for support. With social media at work, crowdfunding has turned into a fundraising hype. There are already more than four hundred operating platforms worldwide.
But those who pioneered this fundraising instrument have long discovered that crowdfunding is not about the money at all. Crowdfunding wins feedback, volunteer support, public debate and open innovation processes that also results in direct improvements to the fundraiser’s work. Crowdfunding has the potential not only to be a game-changer to organisational structures but also to the aid industry in a broader sense - it levels hierarchies by directly linking people short of funds to people with money.
About the Authors
Wolfgang Gumpelmaier is an independent digital media consultant and one of the leading crowdfunding experts in Austria. He runs several blogs, e.g. on gumpelmaier.net he writes about Social Media in general.
Karsten Wenzlaff is co-founder and CEO of ikosom, the leading research institute on Crowdfunding and Crowdsourcing. He is also the co-author of the first
Crowdsourcing-Report in Germany.
Jörg Eisfeld-Reschke has conducted the first crowdfunding study in Germany in 2011 and written many articles since. He runs www.sozialmarketing.de – a blog about fundraising and digital communication for Non-Governmental-Organisations.