Crowdfunding gathers steam here in Finland.
GOT a great idea for starting a play, journalistic project or a company but lack the necessary fundage? Well, the recent rapid development of crowdfunding websites in Finland might just provide a solution.
Let’s take a look of how and where to crowdfund and looked at some cases that people have used it for.
First off, some definitions for those who came in late. Crowdfunding means raising money for a project from many people, usually via the Internet. When the set goal isn’t reached, the money is returned to the funders. According to Finnish laws, the contributors must receive something in return, like concert tickets while funding a band or a signed book when donating for its publishing. The model emerged in the US in the early 2000s.
Probably one of the most successful Finnish projects, funded through international crowdfunding website Indiegogo, is Jolla’s tablet. Raising 1.82 million dollars (1.46 million euros) the project was complete in December 2014.
But no more need Finnish people hope for support on foreign websites. A year and a half ago the first Finnish platform Mesenaatti was launched. This has several projects, like a book of love poems or already funded debut album of the band Dead Girl Diamonds.
While Mesenaatti involves a wide range of projects, another platform, Invesdor, sets its sights on budding companies.
Elsewhere, for those of you who are eager to kick off a journalistic project, Rapport, founded in May last year, might offer some help. Through this platform, everyone can present their story ideas, but people choose the winning ideas and the Rapport journalists are responsible for them to be funded. Then the journalists decide on the sum needed for the story and start working. Later the work is published on the website, but the funders have first dibs on reading the stories.
Even sports-minded people have their own funding website that’s designed to fund professional athletes and teams: Kiririnki. While writing this article, it was possible to fund judoka Eetu Laamanen’s participation in qualification tournaments for the next Olympics or Marianna Zaikova’s participation in the World Marathon Challenge – running seven marathons in seven days in seven continents – in January 2015. With that, Zaikova would be the first woman and also the first Finn to join the race.