Building Vibrant Communities Patronicity

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Presentation transcript:

Building Vibrant Communities Patronicity

Our inspiration We believe an engaged citizenry leads to happier, healthier communities Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has. “ ” - Margaret Mead

Crowdfunding: The Basics  Definition: Getting a crowd of people to come together online to fund projects  4 Types: Donation/reward based (Patronicity) Pre-sale Debt Equity

Patronicity  Community-focused crowdfunding Online & offline donations Flexibility Localized network effect Personalized support

Evolving crowdfunding by combining the power of crowdfunding with the resources of grantmaking organizations CrowdGranting

Traditional grant process Granting Org Black Box Process Not Funded Projects Apply Project Funded Granting Org Transparent Process Projects Funded! Crowdfunding CrowdGranting

 Benefits Hassle-free evaluation Widespread publicity Double the impact Sustainability through community support

A CrowdGranting partnership between the Michigan Economic Development Corporation (MEDC), Michigan State Housing Development Authority (MSHDA) & Patronicity Patronicity.com/PureMichigan Public Spaces, Community Places

 First-ever Statewide crowdfunding partnership  Support projects that activate public/community space  Provide matching challenge grants IF goal reached

Public Spaces, Community Places  How it works Apply Projects apply through Patronicity.com Patronicity ensures fit, creates compelling story Review MEDC/MSHDA approves or rejects through Patronicity 72 hour limit Live Patronicity polishes up, launches Patronicity coaches through crowdfunding If projects hits goal, they get the match

Public Spaces, Community Places  Engaged: Citizens given power to control grants  Innovative: Combining traditional grants w/technology  Effective: MEDC/MSHDA spends less time reviewing projects, more time supporting them  Impactful: 97% Success Rate $2,441,827 Total Funds Allocated 500,000+ Citizens reached 3.5 FTE 2,807,133 Square Feet Activated

Public Spaces, Community Places I was hoping for a 50-percent success rate, the fact that we have 97 percent is crazy. With this project, we are trying to drive public spaces to be reactivated. The state is focusing on placemaking and we kind of left it up to the community to find what projects they want completed. Katharine Czarnecki Director of Community Development Michigan Economic Development Corp. “ ”

Public Spaces, Community Places In September 2015, MEDC created this video about the “Public Spaces, Community Places” partnership.

How can Patronicity help activate your communities? Gateway cities? Neighborhood businesses? Redevelopment & restoration? Community spaces? We look to replicate our CrowdGranting model in other cities and states. Reach out to inquire how to set it up! What’s Next?