The Cackle: Episode #40
Accessing Capital to Build Community
SPECIAL GUEST: Bridget Anderson, Director, Patronicity
AIRED ON: Wednesday, December 16th on Facebook Live or Twitter at 10:30 am EST
Bridget Anderson, Director at Patronicity, joins The Cackle to discuss accessing capital to build community.
Want to learn about accessing capital to build community? Check out episode #40 of The Cackle! In June 2014, the Michigan Economic Development Corporation (MEDC) partnered with Patronicity to harness the power of crowdfunding to activate public spaces and create community places. This was the first ever statewide crowdgranting partnership, which led to an outstanding year of community inspired projects for the MEDC. Patronicity Project: Ypsilanti Farmers Marketplace By using the Patronicity model, the MEDC has seen a 97% funding success rate on proposed projects with over $6.2 million towards community funding that activated over 4.8 million square feet of public space. With added community engagement they doubled their granting budget, received extended publicity from the funding campaigns, and created a more efficient grant administration model saving time and money. Today, Patronicity is operating community development crowdgranting programs in three states; Michigan, Massachusetts, and Indiana.
About The Cackle
Each week on The Cackle, we highlight small businesses, startups, and people who have an impact on communities across the Midwest. We explore a wide range of topics relating to the vibrancy of local economies, including: entrepreneurial journeys, economic trends found in our research, the challenges facing small businesses and startups face, and the importance of building a diverse and inclusive community.