Crowdfund Aberdeen launch will aid local organisations

Local organisations and community groups will be able to obtain a new way of securing funding after City Council’s Communities, Housing and Infrastructure Committee agreed a report yesterday (25 August 2016).

Crowdfund Aberdeen would allow local organisations to promote their projects and seek to secure the funding they require to deliver them

Projects are given a limited time to raise a target amount and Crowdfund Aberdeen will indicate the extent to which they can proceed and, if they do not meet their target, existing commitments to date are not transferred to the project.

Lead by Aberdeen City Councils Economic Development team an online platform will operate and encourage investment in local projects.

Aberdeen City Council Housing, Communities and Infrastructure convener Councillor Neil Cooney said: “This is an extremely positive initiative and Crowdfund Aberdeen will coach local organisations and support the coordination of activities.

“In addition, it will give the local community a sense of ownership whilst encouraging investment in local projects.

“When the scheme is launched, we’d encourage as many community groups and organisations around the city to see how Crowdfund can help them.”

A report to committee said the scheme has been trailed in Angus, where it has been extremely successful, with a good level of interest. It is hoped that it will have the same effect in Aberdeen by generating a wider positive impact, not only for the project developers but also for the wider community..

The Council will not only be supporting the development and funding of projects themselves, but would ensure access to both specialist external funding support from officers in the Economic Development Service.

It would also ensure links are made to other projects and programmes where appropriate which could include Business Gateway, developments within the City Centre Masterplan (eg events, culture), or other externally funded projects.

The report said the year one cost is £10,000 plus VAT to include all set up and training costs, and costs thereafter are anticipated to be in the region of £2,000 per annum.