Portsmouth City Council to roll out crowdfunding platform
Local authority seeks supplier for online system
Portsmouth City Council is to set up an online crowdfunding platform to help community programmes attract financial backing.
The authority wishes to implement a digital system allowing the council and its partners – including community organisations, banks, the Solent Local Enterprise Partnership, and the Prince’s Trust – to seek funding for public-good programmes. Initiatives likely to seek support via the online tool include “local regeneration, parks, sports and leisure, [and] SME start-up and growth”, according to the council.
The authority listed a number of benefits it believes the crowdfunding model will provide, including that funds will “go further as the city council will not be the only contributors to a single eligible, project and will therefore be able to award grant funding to more projects”.
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Among the other benefits are “greater visibility for groups on the platform, increasing opportunities to secure funds from a range of sources” and that “local businesses may put funds on the platform as a way to fulfil their corporate social responsibility aspirations”.
Using a digital system will allow for better monitoring of projects and funding, as well as enabling “a collaborative approach to problem-solving alongside residents, partners agencies and businesses”, the council said.
“The online platform will provide a single point of entry, and each with different criteria, application forms, maximum award values and decision-making processes,” it added. “Challenges of complexity, risks of duplication, lack of consistency and reducing budgets have resulted in a new approach needing to be adopted.”
Portsmouth City Council is seeking a supplier that can provide it with a crowdfunding platform for the duration of a three-year contract to begin later this year. Bids are open until 3 October.
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