We are part of the successful Crowdfund Devon platform and are looking for ideas and projects that will benefit our local community that we can pledge funds towards.
The Crowdfunder UK platform is a great way for community groups and projects to easily set-up an online space where fundraising can be coordinated in one place. Crowdfunding is also a great way to raise awareness of your project with more people, trusts and corporate bodies that are looking to invest in community projects.
Crowdfund Torbay lets us use crowdfunding as a way to support our local area. Through this platform we can pledge funds towards the development and delivery of projects across the Bay that will benefit local residents of any age and from any community and/or improve the local environment.
Here are some examples of the types of successful projects that have been awarded funding:
- £2,250 to Torquay Tennis Club who used the funding to build a new permanent outdoor table tennis facility. They also received pledges from 17 individuals and organisations to help them reach their target of £4,500.
- £3,750 to Friends of Oldway who have used this funding to help them renovate the tea rooms at Oldway Mansion. With a new stretch target, Friends of Oldway went on to secure £12,806 from 387 supporters.
- £700 to Orchard Forest School to sustain an ancient orchard to create a resource for the entire community to enjoy. At the same time educating and raising awareness about the importance of trees to the environment, nurturing an appreciation of nature. The project received £1,459 from 22 supporters.
- £1000 to Brixham Theatre whose aim was to update seating to maintain the comfort of their audiences and received a total of £2,580 from 52 supporters.
Crowdfunding and Crowdfund Torbay
Crowdfunding is an alternative way of raising money for great ideas from the people around you and is available to everyone. People are increasingly bypassing more traditional funding routes such as bank loans or grants and turning instead to the people they know and in their community to support their venture. To find out how Crowdfunder can support you to set up a project check out Crowdfunder UK.
Torbay specific projects
To find out how Crowdfunder UK has helped and enabled projects within Torbay to reach their target and beyond, visit the Crowdfund Torbay page on Crowdfunder UK.
Crowdfund Torbay Fund
Crowdfunder UK is available to everyone who wants to crowdfund, however if you want to make an application to the Torbay Crowdfund, go to the Crowdfund Torbay web page on Crowdfunder UK. From there you can find details on how to set up your project, learn to Crowdfund, how to apply for this fund and see a full list of eligibility criteria and terms and conditions.
For any further information, or advice and guidance on the process please email Crowdfunder UK email@example.com
Torbay Council’s decision process
Once you have completed an application to the Crowdfund Torbay fund it will be submitted directly to us through the Crowdfund UK platform. Your application will then go through a few steps before a conditional pledge is made by Torbay Council.
Step One – Target and pledges
Your project needs to reach 25% of the initial target and receive a minimum of 10 pledges from external funders before it is assessed by the evaluation panel.
Step Two – Essential criteria matching and financial checks
If your project reaches 25% of the initial target and receives a minimum of 10 pledges from external funders it will be matched against the essential criteria set out on Crowdfund Torbay. Financial checks will also be carried out on the applicant. These checks include Torbay Council debtors, Companies House and Gov.UK for business rates valuations.
If your application does not meet the criteria matching or financial checks an email will be sent to you outlining the reasons why. Crowdfund UK can work with you to go revise your application which can then be reassessed.
Step Three – Panel evaluation
Once the essential criteria has been matched and financial checks successfully completed, your application will be considered for a conditional pledge by a panel of evaluators. Panel members include Torbay Council officers and members and a representative from Health Watch.
Step Four – Notification of decision
Once your application has been considered by the panel their decision will be emailed to you via Crowdfunder UK.
- Application for conditional funding accepted – An email will be sent to you which will outline the amount of conditional pledge awarded which can be up to 50% of your initial target.
- Application for funding refused – An email will be sent to you which will outline reasons why the application has been refused.
It is worth nothing that if your application is refused, Crowdfund UK will always be on hand to support you with your application and help you resubmit if you choose to.
Your existing application will still remain live on Crowdfund UK even if it is not possible to apply for funding through Crowdfund Torbay.
Step Five – Conditional funding
Now you have raised 75% of your target (initial 25% plus 50% Torbay Council pledge), the remaining 25% needs to be pledged from the crowd. Torbay Council will pay its pledged funding once the full target amount about has been raised.
Example of the funding target process can be found below:
- Initial target £500
- £125 (25%) raised from the crowd by 11 external funders
- Application for conditional funding approved – £250 (50%)
- Crowd raise a further £125 (25%)
- Torbay Council’s pledge transfers to applicants Crowdfund account as 100% achieved.
If you receive a pledge from Torbay Council, in accordance with the terms and conditions outlined on Crowdfund Torbay, you must provide us with the following items two months after you have been awarded the funds:
- Photos of the project in action
- Copies of invoices and receipts
- A one page evaluation summary which will cover the impact the project has had, at least one case study and feedback from at least one person who has benefited from the project.
- Open spaces
- Torbay Lottery
- Tor Bay Harbour
- Museums and theatres
- Community Partnerships
- Armed forces and veterans
- Filming in Torbay
- Torquay Harbour Webcam
- Population Statistics
- Apply to hold an event on our land
- Building stronger communities
- Venue hire
- Mayor’s Special Recognition Award
- Drinking water taps
- Climate change