Crowdfunding raises thousands for creative projects

Media Release

21 May 2012 FOR IMMEDIATE RELEASE

Crowdfunding raises thousands for creative projects

Crowdfunding, an innovative approach to raising funds using the Internet, is hitting headlines around the world for its successful campaigns – and now small businesses here in New Zealand are giving it a go.

Popular crowdfunding websites such as Kickstarter and Indiegogo are home to thousands of creative projects and resourceful entrepreneurs opting for an alternative way to raise funds.

Genny Stevens, owner and editor of Gisborne-based fibrecraft magazine Entangled, aims to raise US$25,000 on Indiegogo to support plans for future growth.

“I’ve poured everything into Entangled’s success and now I’m at a stage where I need further investment so the magazine can continue to grow and thrive.”

More than 60 funders have already contributed over US$3000 to what Ms Stevens describes as her “big audacious growth plans” – and with 12 days still to run on the 28-day campaign, she’s thrilled with the result so far.

“I’m fortunate to have a really supportive fibrecraft community who are keen to be involved in the growth of our locally operated, globally distributed magazine,” said Ms Stevens. “But I’m also appealing to other people who aren’t necessarily crafters, but want to help a small Kiwi venture succeed on a global scale.”

Ms Stevens was inspired to try crowdfunding when she saw the success of other fibrecraft campaigns, such as Ton of Wool, which raised over AU$38,000 for the purchase and processing of a ton of wool from Tasmania, and Co-operative Press, a fibrecraft publishing company that raised more that US$12,000 to assist with the production of several knitting books.

But it’s not just fibrecraft projects that are benefiting from this new kind of business funding. Boston singer Amanda Palmer has raised more than US$660,000 on crowdfunding website Kickstarter to go towards her new album, art book and tour.

“The sky really is the limit, and for a small contribution people can become part of a project’s success story – and pick up some great rewards along the way,” Ms Stevens said.

Her crafty “reward packages” are what funders receive in return for their contribution, and start at just US$10 for an issue of Entangled and a podcast from “Sister Diane”, through to US$5000 for the naming rights of an entire issue and a full DPS spread on both the front and back inside covers.

“I’ve chosen some of our best fibrecraft resources that are all instantly accessible online when people pledge their support. The advertising and naming rights rewards are a great deal for businesses that are keen to reach our largely US-based audience.”

Produced digitally and published bi-monthly, Entangled delves deep into the world of spinning, knitting, weaving, crochet, embroidery and textiles to provide inspiration and expertise to its global community of crafters.

“We have a marketing plan in place that requires an initial cash injection of US$25,000. Even if we don’t quite reach that target, any money raised will enable us to attend several international craft events to help raise Entangled’s global profile.”

Ends.

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