Social businesses and investors are connecting through crowdfunding— the recent partnership between Australian crowdfunding platform StartSomeGood and non-profit social business Impact Seed is an example of this type of collaboration.
StartSomeGood is a crowdfunding platform exclusively for social change initiatives and projects that benefit the community or the environment. StartSomeGood exists to help social entrepreneurs, non-profit and community groups to raise funds that they need to make a difference. The organization provides support, enables and launches campaigns, brings together a community of supporters and raises funds to create meaningful and impactful changes. All startup ideas and projects are extensively and personally reviewed by the team.
The organization supports social change projects by sharing their experiences and insights into successful crowdfunding and connecting investors and businesses in the global community.
So far, StartSomeGood has helped 550 ventures raise over $6 million, with a success rate of 53%, far above the industry average.
Meanwhile, Impact Seed works to create a sustainable social impact by identifying, supporting, and creating an environment wherein social businesses can thrive. Impact Seed operates under the philosophy that social business is the future way for all businesses, and that consumer choice is increasingly driven by conscience, not just product value. Impact Seed works with founders to foster and raise the profile of these non-profit businesses in the Australian startup community.
The company has significant experience in commercial, startup, non-profit and social impact sectors in Australia and globally, and most importantly, are passionate about growing social businesses and promoting the concept of impactful investment.
Co-founder of StartSomeGood, Tom Dawkins said in a statement,
With more than 50 percent of crowdfunds having a social dimension, Impact Seed saw the natural fit between crowdfunding and social business. We are very excited to partner with Impact Seed to support the growth of the social business community in Western Australia and nationally.
This collaboration will see these two enterprises work on building up a pool of investment opportunities that can provide a market-rate financial return to investors. Rather than replicating services, this partnership allows each enterprise to focus on their unique strengths, forming a powerful model of collaboration and sector-building.