At a time when financing is increasingly challenging, crowdfunding offers a powerful solution. That is why GrowthFundMe, an Erasmus+ project coordinated by Odisee University of Applied Sciences, has created an innovative platform for entrepreneurs to learn about and experiment with crowdfunding.

What makes GrowthFundMe unique?

GrowthFundMe's platform helps entrepreneurs develop crucial soft and hard skills, such as communication but also technical skills, specifically for crowdfunding. Through online modules, entrepreneurs learn to launch their projects, which is especially valuable for startups and SMEs without ample networks.

How does GrowthFundMe work?

Alex, a passionate entrepreneur, has always dreamt of creating impactful community-driven projects. Living in the vibrant town of Greenfield, he noticed numerous opportunities to improve public spaces, provide resources for underprivileged groups, and support local businesses. One day, while walking through the neglected central park, an idea struck him. Alex envisioned transforming the park into a vibrant community hub where families could gather, children could play, and local artists could perform.

To bring his vision to life, Alex knew he needed a solid financial plan. He began by thinking about potential income sources like grants, donations, and local government support. He also listed anticipated expenses, from project materials to marketing efforts. Setting clear, realistic goals helped him visualise the steps needed to bring his ideas to life.

Crowdfunding, something for you?

What makes your work rewarding? For us, it is making progress and creating a long-lasting impact!

In the last week of April, the GrowthFundMe partners came together to discuss the previous steps and next steps to be taken towards a civic crowdfunding platform and e-academy on crowdfunding. Besides that, we had an extensive introduction by Growfunding on how to support individuals and organisations who want to set up a crowdfunding campaign to support their own ideas.

Did you know an intake interview can help to assess a campaign's chances of success, as well as help with the preparation before launching the campaign? Next to that, it is key to determine the campaign budget, to do a network analysis, to decide on rewards, and to create texts, visuals and a pitch. Naturally, it is important to know how to use crowd building in a crowdfunding context and, as always, communication is key! On top of that, we had a look at the process of launching a crowdfunding campaign, which involves some ups and downs, and at what to do after the campaign. 

In the dynamic landscape of modern business, possessing an entrepreneurial mindset has emerged as a key differentiator for success. Beyond starting new ventures, this mindset fosters innovation, resilience, and adaptability, qualities essential for navigating today's rapidly evolving economy. Cultivating an entrepreneurial mindset is not confined to those launching startups; it's a mindset that can be developed and applied by anyone seeking to excel in their professional or personal endeavours. This includes building community-minded projects, social enterprises and other activities. 

Embrace Risk and Failure as Opportunities

At the heart of the entrepreneurial mindset lies a willingness to embrace risk and failure as integral parts of the journey. Instead of viewing failure as a setback, entrepreneurs perceive it as a stepping stone toward growth and learning. Failure becomes a catalyst for innovation, driving individuals to refine their strategies and approaches. By reframing failure as a valuable learning experience, aspiring entrepreneurs can overcome the fear of taking risks and venture into uncharted territories with confidence. This mindset is equally important within a community project/social enterprise - your plans won’t always work out as you hoped, but these setbacks are a learning opportunity. Always take time to reflect on what you could do differently next time.  

GrowthFundMe project partners met for the first time “live” on 23-24 November 2023 in a transnational training meeting organised in Zutphen, the Netherlands. The event was
hosted by Inova Aspire.

The meeting was a great opportunity to make personal contacts and discuss the project results under development. The first modules developed so far, the methodology and
the training materials were presented, and the participants took part in a pilot testing training related to the development of entrepreneurial competencies for those who will use the platform and materials developed within the project in the future. These were presented based on the ENTRECOMP competency framework in the form of three modules identified by the partnership as most relevant to the project objectives: