As public sector sources of match funding become tighter, increasingly projects have looked to other more imaginative (and more innovative) sources of match funding, including crowdfunding as a way of making their projects happen.
This is when a local project is advertised over the internet and through social media to encourage lots of people to pledge small amounts of money (or large amounts of money if you're lucky) to get a project off the ground. The 'pledgers' can live anywhere in the world, and in fact often don't live in the locality but have an affinity to the area or the project topic. It's all managed through a website called Crowdfunder. There may be other websites who do similar things who may be just as good!
As the money is a 'pledge' it is only drawn down of the project is successful in raising all the money it needs to go ahead.
Some LEADER areas have put funding into Crowdfunder UK to set up a special Crowfund portal for their respective areas, so at a glance you can see all the projects which are fund raising in a given area at a given time. It's proving to be quite effective for those areas, so here at FVL LEADER we are watching this closely as we too are considering doing this.
We'd love to know if you think this would be a good idea or not!