crowdfunding ideal for creative
projects. It still needs work when
it comes to funding a business.
Luckily, Van Zyl says that the models
are evolving.
•
“As always, one needs to do your
research on who to partner with
and what the main goals are. It
could just be something like market
testing or raising awareness.
Even when a project doesn’t reach
its goal, it can still prove successful
in other ways.
“It addresses a definite need, but
there is still a lack of 'mentorship
capital'. For a high-growth venture
to succeed, one needs to combine
knowledge, networks and funding.
In most cases, projects only
contribute funding,” he says.
VAN ZYL'S TIPS FOR A
SUCCESSFUL CAMPAIGN:
•
•
•
•
•
Know why you are doing it and
what you aim to achieve.
Plan your campaign in advance.
Gather early support from your
immediate network.
Use the right crowdfunding
partner for your project.
Create profile-raising activities.
Adapt and iterate during the
campaign.
WHEN A PROJECT FAILS...
One such campaign is Tourism
Radio, South Africa’s crowdfunded
initiative, which kicked off in
September 2013 and hoped to
deliver interactive Google Glass
travel guides by April 2014,
six months after the end of
the campaign.
It did not raise enough funds to
make the project a reality, but
Jonathan Meyer, Tourism Radio’s
content manager, says that the
campaign still proved successful
in terms of the interest and
publicity it generated. “We were
almost immediately contacted
by interested parties from
across the world, some of which
proved fruitful.”
Why did it fail? Their project, he
says, relied too much on Google
Glass becoming a household item,
which led to backers choosing a
“wait-and-see approach”.
Meyer adds that crowdfunding
needs to be flexible – those who
adapt to their backers are more
likely to succeed. “Personally I
believe it is about getting backers
to not only invest in your campaign
financially, but emotionally.”
It is a case of adapt or sink,
especially when you are being
funded by the public: “Funders
who also adapt their projects
in response to their backers
are generally the ones that
are successful.”
THE FUTURE OF UBUNTU
FUNDING
While crowdfunding in South
Africa is still new, it is already able
to offer a platform for those who
dare to dream far beyond their
current means.
Sometimes getting an idea off the
ground takes a village, other times it
takes a crowd. ■
ISSUE 6 – SEPTEMBER 2015
55