StartSomeGood is a leading crowdfunding platform for social change initiatives. The social enterprise’s goal is to democratise the funding landscape and provide access to capital for new and innovative projects that create a better future for communities around the world. In March 2015, Trimantium Capital, a technology impact investment firm, lead a seed investment of $400,000 towards the further development of StartSomeGood. The funds were primarily employed for the development of a new online platform and a branding overhaul in order to scale the capital flow to impactful projects.
To develop a new online platform and overhaul branding, enabling StartSomeGood to scale the number of projects supported and increase social and financial returns.
StartSomeGood has supported over 600 projects to date. The platform is accessible to any project with a positive impact on the community, no matter if it is initiated by a social enterprise, for-profit, non-profit or individual. Such early-stage projects often need capital to develop and grow their impact, but lack access to traditional forms of funding. The team of StartSomeGood provides each applicant professional support for the preparation and design of the campaign and supports community engagement via online channels.
StartSomeGood was founded in 2011 in response to a lack of crowdfunding platforms suitable for the specific needs of changemakers. The funding was granted by Trimantium Capital in March 2015. At the beginning of 2016, StartSomeGood introduced their new web presence including a new brand design, improved project set-up flows and mobile responsiveness.
Trimantium Capital – A Melbourne-based early-stage impact investor with a focus on high-growth technology businesses.
Impact fund Investment
Equity – Trimantium Capital – $360,000
Equity – Several private investors, including Vasudhara Foundation – total of $40,000
Since its inception in 2011, StartSomeGood has enabled over 600 projects in 35 countries to raise more than $7 million and supported causes from environment and disaster response, over food and health to human rights and education.
StartSomeGood claims to have one of the highest success rates in the crowdfunding industry, with 53% of published projects achieving their funding goal.
The most successful project to date was the Food Justice Truck, a social enterprise launched by the Asylum Seekers Resources Center Melbourne. The initiative offers organic produce with a 75% discount to asylum seekers and raised $153,000 in April 2014, representing the largest social enterprise crowdfunding campaign in Australia (as of April 2016).
Too early to report.
StartSomeGood is actively looking to expand its co-investment partnerships to build the social enterprise ecosystem. Current partnerships include:
- SEFA:CrowdMatch: Projects that raise at least $50.000 in crowdfunding with StartSomeGood qualify for a SEFA loan of $50,000+ to support further growth
- ING Direct Dreamstarter: A fundraising platform for social entrepreneurs – selected projects receive half of their fundraising goal from ING and support to raise the rest on StartSomeGood