Hyper Local Crowdfunding Platform
There are hundreds of crowdfunding initiatives, websites and projects asking people to pool their financial resources for a particular idea, product or service.
Trendspotting website Springwise is highlighting an innovative new crowdfunding platform that takes a hyper-local approach by featuring one business a week and asking the neighbourhood and local community to support it.
Called Lucky Ant (because no ant works on their own), it helps local companies to get off the ground and grow.
So how does it work?
Businesses post a project on the site that they need funding for i.e., the purchase of some new equipment or inventory, along with the target amount. These submissions are screened by the Lucky Ant team and only one business is presented at any one time on the site.
If users like what they see they can pledge some money, and once the target has been reached the funds are released to the business. In return for their help companies can thank their supporters with perks such as free goodies and discounts.
The current example on the site is a fitness studio called Bari that wants to trademark its brand. In return for a $5 donation community members will receive an exercise ball or a pair of Bari socks; $25 gets a workout DVD and there’s a free class on offer for people who donate $50.
If the target amount is not achieved within seven days the money is returned to all those who pledged.
http://vimeo.com/luckyant/demo
Currently the service operates in New York, but the plan is to spread it to other cities later this year.
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