BID Leicester launch a new crowdfunding pot to support business start-ups in city centre
BID Leicester is collaborating with Crowdfund Leicester and Spacehive to help fund business start-ups in Leicester city centre.
The Business Improvement District has set aside £10,000 to contribute towards creative and innovative start-ups and new project ideas that will have a positive impact in the BID Leicester area.
Applications are now being accepted from new business start-ups and new projects being developed by existing businesses under two years old.
Applicants’ proposals must incorporate a publicly accessible space within the BID area or plan to use a space in Leicester city centre. Businesses applying can be for profit or not for profit, but must be able to identify the positive economic, environmental or social impact of their project.
All projects submitted will be given guidance by Spacehive in how to set up and run a crowdfunding campaign in order to gather public support for their project, from presenting their idea to tips on how to engage the public, media and businesses.
Once the campaigns are up-and-running, BID Leicester will pledge further funds to projects that meet their key criteria and have gained the support of the public.
Simon Jenner, BID Leicester Director, said, “We are looking forward to being able to support new, local businesses that have creative and innovative ideas that will benefit Leicester city centre.
“Leicester is a creative and enterprising city, and through Crowdfund Leicester there has already been some amazing local projects come forward.
“I am intrigued to see the types of projects that are submitted as part of the BID Leicester crowdfunding programme. There are often people with interesting ideas who just need the funds and support to get started.
“By using the crowdfunding model we will be able to identify imaginative projects that have gained support from local people and pledge our funding to help to make them happen.”
Spacehive is an online crowdfunding platform that enables project organisers to collect public donations.
Crowdfunding is an ‘all or nothing’ model, so businesses must have a strong idea that captures the imagination of local people. The pledges are not collected from the crowd until they successfully reach their fundraising target.