Did you know that if you live in London have a great idea for a local community project that you can receive up to £50,000 from the Mayor to develop it? Just by signing up, getting some inspiration from the projects that have already received funds and planning your project with your local community, you could be part of the Crowdfund London campaign.
How to be part of Crowdfund London
The steps you need to follow in order to have the possibility to receive the £50,000 are not complicated or cumbersome. Firstly, you should give your idea some thought in order to determine if it fits locally, will actually represent your area and if the local people will benefit from it.
Once you have determined this, have a talk with your neighbors, see if they support your idea or if they can improve it with more suggestions and new ideas. The purpose is to get local people involved and have them endorse your project since it will benefit their needs.
The next step will be to organise the basics of the project, put in place solid governance arrangements and to look for a local organisation that can partner with you to deliver the project. Make sure to involve your community as much as possible and look for people with the right skills to help.
After all this is done, it is time to research and plan. Arrange a meeting with the landowner and your local council; see how possible it is to develop your idea, put together a business plan and be sure that you have all the correct numbers and quotes for the materials you need. It is very important to include the potential risks of the plan and how you aim to prevention them from happening. Do not forget to ask the local council and landowners what kind of permissions or licenses will be needed to make sure the project is legal.
Requirements for being eligible for Crowdfund London
- Located in Greater London and able to enter legal contracts.
- The plan, budget, and resources must be clear, as well as your mission statement, key roles, responsibilities and the organisation’s bank account details.
- The organization must be well constituted and truly represent their community.
- Present a project to strengthen the characteristics of your area by offering solutions and opportunities to local challenges.
- Rescue unused spaces while helping the local community and creating job opportunities.
- Involve the community; have their support evidenced through the crowdfunding campaign.
- Present an environmentally sustainable project which gives access to affordable workspace involving local people in the design and development.
Projects that could receive funds
For the possibility to receive £50,000, projects that enter Crowdfund London may help high streets become better places for business and tourism, establish a local market or improve an existing one by giving access to healthy and affordable food, recover an unused space or attract people to a beautiful area. The possibilities are there – it is just up to you to have the idea and vision!
The goal of Crowdfund London is to encourage the growth of innovative and new ideas that will add real social benefits to the local area and help to bring stimulate the local economy.
For more information, you can check out the website and see what exciting projects have already been launched: https://www.london.gov.uk/what-we-do/regeneration/funding-opportunities/crowdfund-london