Crowdfunding Ambassadors

As a business innovator, I am always interested in finding new ways of inspiring creativity and transforming ideas into concepts and business propositions. Thomas Edison once said, “Innovation is 1% creativity and 99% perspiration.” You will perspire a great deal to obtain the financial means to either start your business, finance the growth path you believe in, or fund the innovation you so creatively think the world cannot live without.

TEXT GONNEKE VAN DEN KIEBOOM

Luckily, there are various ways of getting financial support for ambitious entrepreneurs: banks, Korpodeko, investors, and crowdfunding. In crowdfunding, there is a transaction between the fund-seeking initiatives and the backers that support the project financially; they essentially exchange value, in some form or another. Backers receive rewards, either as a tangible product, have influence in the development of the project, are involved in co-creation of the product, or receive a service in return for their contribution to the investment capital.

Crowdfunding has recently been carefully explored by initiatives on Curaçao and other islands of the Caribbean by making use of online international crowdfunding platforms, such as kickstarter.com, indigogo.com and rockethub.com. Revive Gomezplein, I-Animal, and Curaçao Winery are the first three initiatives in Curaçao that have received international media attention.

“Concerned citizens of the world have diminished trust in traditional monetary systems; new ways of creating value and investment opportunities are part of alternative business models.”

Broadening Business Horizons
Concerned citizens of the world have diminished trust in traditional monetary systems; new ways of creating value and investment opportunities are part of alternative business models. Small economies like Curaçao are wise to keep up with these developments. Crowdfunding broadens business horizons and opportunities; any registered company, foundation, or enterprise can start its own crowdfunding initiative. Through the available platforms, there is a world of individual and institutional investors to appeal. Someone might see your pitch as far away as Australia, Iceland, or as close as Janwe. Some crowdfunding sites require European, US, or Canadian liaisons or registrations, so check to be sure your project meets the requirements.

Thomas Edison once
said, “Innovation is 1%
creativity and
99% perspiration.”

Circular Economy
Crowdfunding is a revival of “power to the people,” and it’s a clear example of the circular societies that are conquering significant economic terrain. Crowdfunding is a win-win opportunity – mutually beneficial to the funding crowd and also to the initiator, either by investing, becoming part of the movement, getting a share in innovation, or organizing the necessary funds for the development of the fantastic business concept. Curaçao Winery understands this international reciprocal shift in power. Backers buy the whole winemaking process and in return become part of the very first winery ever in the Caribbean. How inspiring is that? These backers own one or several wine stalks and have a claim to the wine produced from these stalks. They can visit their vineyard, stay in the bed and breakfast, and bring home their case of 2016 Chateau Curaçao.

The Creative Lab Curaçao team, which initiated Revive Gomezplein, shares a few lessons learned:
• From a social media perspective, 3000+ people “liking” our project showed us that people do want Punda to be revived and see Gomezplein as a natural starting point, however, likes on Facebook do not necessarily convert to money on the counter.
• Although we freely use our credit cards to shop and vacation, Curaçaoans are still reluctant to buying online.
• A crowdfunding initiative is a multi-media, multi-disciplinary, multi-talent effort. The team consisted of twelve people, ranging from architects, a communication strategist, art directors, an illustrator, a social media specialist, and a business development professional.
• There is a lot of hard work involved in putting together a crowdfunding project; most of the work (two-thirds of it in this case) happens before the real campaign begins.

If You Fall, Brush Off and Start Again
No one has ever learned to walk without falling down and bruising him or herself a couple of times and it’s no different with crowdfunding. If you’re not able to convince enough people of the importance, the fun, or the indispensable, you will not receive adequate funding. It’s a democratic process. However, if you strongly believe in your concept, your idea, your business plan, or your cause, it will receive support from the crowd and you will succeed, gaining not only funding, but also a group of loyal fans, ambassadors, and backers for your goals, passion, and dreams.

Gomezplein
Crowdfunding initiative “Revive Gomezplein” focuses on a broader societal perspective by focusing on the need for more generational cohesion, the value of our inner city monumental heritage, and the cry for innovating Punda from new perspectives, with Gomezplein as the starting point.

The hard work paid off for this project. Besides media attention and creating new and positive awareness for future of Punda, they earned over ANG 30,000 towards their ANG 85,000 (38,500 euros) goal budget on kickstarter. com. Though they didn’t reach their goal budget, they are confident that crowdfunding is a transparent way of involving the public, provides a shift from being dependent on old economic business models, gives individuals a share in projects they think are important, innovates the investment culture on our island, and stimulates new possibilities for many small businesses.

Creative Lab Curaçao believes that innovation means trial and perseverance, so they are planning the revival of Revive Gomezplein in August/September 2015.