Fact Card is a series of posts summarising crowdsourcing and public decision making initiatives relevant to our project. Please post a comment or email us with any clarification.
Spacehive is a funding platform for neighbourhood improvement projects. Like projects featured on Kickstarter, Spacehive has an all-or-nothing funding model meaning projects must be fully-funded or no money goes to the project. Spacehive retains a proportion of the funds pledged as a fee for their service.
How does it work?
- Registered users can create and gather support and funding for their projects as well as support other projects.
- Also companies can make cash donations or offer contributions such as materials, employee expertise, or services.
- Spacehive reviews every project before fundraising can start and requires project creators to provide evidence of the viability of their project. Project Delivery Managers, responsible for the delivery of the project, are required to sign an agreement accepting responsibility for receiving and spending funds raised and overseeing the project.
Citizens, Spacehive Ltd. Spacehive has received funding from the BIG Lottery Fund and support from Deloitte, among others.
Active. The service is currently open for projects in the UK.