A new crowdfunding initiative has recently been launched that allows the people of Stockholm, Sweden to have a say in their cultural investment. The initiative is called Crowdculture.se, and its call was announced on 1st April 2011 in co-operation with the Fund for Innovative Culture gives the people an opportunity to invest engage in local vital projects.
Crowdculture is essentially a web based platform that allows a private individual (or group of individuals) to invest a small monthly sum in any local projects they choose. This version follows a successful beta testing session of crowdculture.eu in autumn 2010 which enabled individuals to invest money in cultural projects which is then matched through public funding. The new system allows an investor to contribute as little as €5 ($8) per month for public match funding.
An individual’s investment can be spread out over a whole month and even directed towards different projects. Those projects that meet their budgetary targets within a given time frame are awarded the funding requested. In addition to funding invitations from investors Crowdculture even allows a paying member to suggest a project they would like to work on and submit it to the crowd to decide if it is suitable.
I’m really intrigued by the idea that people control culture funding, and that even relatively obscure projects can fit there. What other board or cultural investigation could just as accurately reflect what they are interested in culture? Narrow culture could also be widely appreciated, in the midst of mainstreaming odd culture could be more commercial.
Håkan Lidbo, electronic music artist and project owner Crowdculture beta test.
Crowdculture places no limits on how much resources can applied for, however it is anticipated that with the current size of the community, budgets in the area of €2500 ($3500) would be considered a suitable size. If you would like to read more about the crowdculture beta test then visit the site by clicking here.