Digital crowdfunding for social entrepreneurship: best practices for building sustainable communities
Digital technology has broadened the horizon for social enterprises to use digital crowdfunding platforms (eg Kickstarter and Crowdfunder) to pool resources to build resilient and sustainable communities. However, digital crowdfunding success rates remain low, and support is needed for adopting digital technology and making a success of digital crowdfunding.
Disparity exists in access to digital crowdfunding between the technology-rich Global North, the world’s developed countries, and the digitally-divided Global South, the world’s developing countries. Their different institutional environment must be considered to bridge the North-South divide.
The Fellowship report shares best practice for digital crowdfunding for social entrepreneurship projects, using the metaphor of the Soul (genuine social mission), the Heart (digital trust), the Mind (authentic design) and the Hands (community engagement).
