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| | = Overview<br/> = | | = Overview<br/> = |
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| − | The idea is to raise money using online platforms where interested funders can make a financial contribution. In return, the funders might either get a small reward or a gift (mentioning the names on the websites, Tshirts, solar lights). The funders are usually motivated by altruism. <br/>
| + | The idea of result-based crowdfunding is to raise money using online platforms where interested funders can make a financial contribution. In return, the funders might get a small nonmonenatary reward such as mentioning their names on the company website, company products such as Tshirts and the funded technology itself eg. solar lights. The funders are usually motivated by altruism<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref><ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>. Crowdfunding began as a wider phenomena in USA and Europe since 2008 in reponse to the economic crisis<ref>Candelise, C. (2015). Crowdfunding and the Energy Sector. https://www.researchgate.net/publication/285397036_Crowdfunding_and_the_energy_sector</ref> and is now a popular funding mechanism. The commonly used crowdfunding platform include: Indigogo and Kickstarter. |
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| − | <br/> | + | Results-based crowdfunding is mostly used by companies who are in their pre-seed to seed stage and where there are limited grant commercial and grant capital<ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref><ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>. It is used to generate fund for a particular projects such as R&D, developing new prototypes and manufacturing new products<ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>. |
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| − | Results-based crowdfunding is mostly used by companies who are in their pre-seed to seed stage.E.g, off-grid companies can organize crowdfunding for buying the technologies. Off-grid solar companies that have done crowdfunding include: Okra Solar, Pollinate energy and solaris off-grid <ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.<br/>
| + | E.g, off-grid companies can organize crowdfunding for buying the technologies. Off-grid solar companies that have done crowdfunding include: Okra Solar, Pollinate energy and solaris off-grid <ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.<br/> |
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| − | Popular crowdfunding platform include: indiegogo and kickstarter.
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| | = Benefits = | | = Benefits = |
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| | = Case studies = | | = Case studies = |
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| | == Gravitylight - Kenya == | | == Gravitylight - Kenya == |
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| | == Okra Solar - Cambodia == | | == Okra Solar - Cambodia == |
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| − | ''Okra Solar is an Australian company piloting a "''plug-and-play smart controller”. In December 2016, the company raised USD 45,0000 via the Austaralian crowdfunding platform Pozible. They used this money for seed funding and to build a prototype. Their fund raising campaign also received more than USD 10,000 match funding from DFID'''' ''<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.'' | + | ''Okra Solar is an Australian company piloting a "''plug-and-play smart controller”. In December 2016, the company raised USD 45,0000 via the Austaralian crowdfunding platform Pozible. They used this money for seed funding and to build a prototype. Their fund raising campaign also received more than USD 10,000 match funding from DFID''''''<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.''''' |
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| | = Further Information = | | = Further Information = |
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| − | [[Category:Financing_and_Funding]]
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| − | [[Category:Kenya]]
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The idea of result-based crowdfunding is to raise money using online platforms where interested funders can make a financial contribution. In return, the funders might get a small nonmonenatary reward such as mentioning their names on the company website, company products such as Tshirts and the funded technology itself eg. solar lights. The funders are usually motivated by altruism[1][2]. Crowdfunding began as a wider phenomena in USA and Europe since 2008 in reponse to the economic crisis[3] and is now a popular funding mechanism. The commonly used crowdfunding platform include: Indigogo and Kickstarter.
Results-based crowdfunding is mostly used by companies who are in their pre-seed to seed stage and where there are limited grant commercial and grant capital[4][1]. It is used to generate fund for a particular projects such as R&D, developing new prototypes and manufacturing new products[5].
E.g, off-grid companies can organize crowdfunding for buying the technologies. Off-grid solar companies that have done crowdfunding include: Okra Solar, Pollinate energy and solaris off-grid [1].
