Module 5 funding for creatives

This programme has been funded with
support from the European Commission
Module 5
Funding for
Creatives (Ireland)
Accessing Resources
Financing and supports available

In this module we demystify funding opportunities and
connect you to the right opportunities. We cover
• Top Tips for Success in Writing a Grant Application
• Grants available to creatives –local, national and
European
• Heard about microfinancing and crowdfunding? We bring
you up to speed!
Learning Focus:

For any start up business, the challenge of putting together the financial
investment package can be daunting. In spite of decreased funding, there
are still many public and private funding opportunities; however knowing
where to look is always a challenge. In this module we explore the 4 main
options open to a creative startup business, they are:-
1. Grants - local, national and European
2. Accelerators
3. Micro Financing
4. Crowdfunding
Note the information is correct as of January 2017 and the authors can
accept no responsibility for the information provided.

Spotlight on the UK.
• In the UK in 2014, Creative Industries was the highest
growth sector, it accounted for 1.8 million jobs - an
increase of nearly 16% since 2011 (Creative Industries:
Focus on Employment June 2015).
• Self-employment is where the growth is - 43% of the
current creative industries workforce is self-employed.
• 78% of its businesses have fewer than five employees – so
not small or medium-sized, but micro.
Grants

Success in
Securing
Grant
Funding

Top Tips for Success in Writing a Grant Application
FORGET ABOUT THE MONEY! (AT LEAST INITIALLY…)
& DEFINE YOUR PROJECT
The primary concern of funders is that your project is well planned and
that it will truly make a difference. In making an effective application
important questions to start with include:
What are you trying to achieve?
• New workshop space, purchase new equipment ?
• Make a new body of work?
• Go on a course/ do some training ?

It is essential that you address how does your project fulfil the funder’s
aims?’
Link your project to the funder’s key criteria and show how your project
furthers their aims and objectives. This means that you need to research
your funding target thoroughly.
Why ? Up to 50% of applications received by funders do not meet their
published criteria
As a very basic minimum you should read the guidelines published by the
funder. Consider: the funder’s motivation, the format for applying, the
level of funding, submission deadlines, eligibility, decision making process

What are the real and positive differences the funding will make?
REMEMBER – ‘PEOPLE GIVE TO PEOPLE…’
Be creative, challenging and engaging about your idea, this is your
opportunity to distinguish yourself from the competition.
Build your credibility and be professional!
One of the primary reasons why applications get funded is that the
funders are convinced that the applicant organisation is well organised,
has a good track record and is a capable promoter to carry out the
proposed project. You approach the creation of your work with a high
degree of professionalism – approach the generation of proposals in the
same way.

• Don’t assume that the funder will have any knowledge of your
organisation or project. Describe your project truthfully and succinctly.
• Break down the requirements of the application into bite-sized pieces
• Think carefully about presentation; most funders will read many
applications and if an application is easy to read and well presented it
makes their lives easier.
• Do not over-promise - you will one day have to deliver
• It always takes a lot longer to put an application for funds together
than you think !

• Remember it is competitive – your best foot forward
• Write in an interesting way that captures the energy & spirit of your
project (journalist style)
• The power of evidence of need. It is not sufficient to say: “we know …
we think….” back it up with relevant research
• Show that your project is additional – not competing with others
• And last but not least, definitely talk to the funding agency before you
apply
Ask yourself, ‘Why wouldn’t they fund this?
Often a good way to strengthen your funding application is to try and
‘pick holes’ in it. Having identified the weaknesses you can then work on
putting them right.

Enterprise Funding
Opportunities

In Ireland, we are fortunate to have a positive funding environment with
opportunities for all strands of the creative sector. In fact, there are over
170 different Government supports for Irish start-ups and small
businesses.
A good resource – https://www.supportingsmes.ie/BusinessDetails.aspx
This Online Guide is to help Irish start-ups and small businesses navigate
the range of Government supports to see which applies to your
circumstances

The Local Enterprise Office is a First
Stop Shop for anyone seeking
information and support on starting
or growing a business in Ireland.
There are 31 teams across the Local
Authority network who will guide
people interested in starting up a
new business or already in business
including; entrepreneurs, early stage
promoters, start-ups and small
business looking to expand.
Who are the Local Enterprise Office?
www.localenterprise.ie

The LEOs are about promoting entrepreneurship and self-help and
provide services under four headings:
• Business Information and Advisory Services;
• Enterprise Support Services;
• Entrepreneurship Support Services, and
• Local Enterprise Development Services
They provide direct financial supports to micro businesses (i.e. 10 or
less employees)
Who are the Local Enterprise Office?

A Priming Grant is a business start-up grant, available to micro
enterprises within the first 18 months of start-up. The max Priming
Grant payable shall be 50% of the investment.
4 Expenditure headings:
1. Capital items
2. Salary costs (typically Employment grants of up to €10,000 per
employee ,including yourself, are obtainable. )
3. Consultancy/Innovation/Marketing costs
4. General overhead costs
Priming Grant

• A business which on growth will fit the Enterprise Ireland portfolio
• A manufacturing or internationally traded services business
• A domestically traded service business with the potential to trade
internationally
• Deadweight and displacement - WHAT IS SPECIAL ABOUT YOUR
BUSINESS IDEA?
• All grants of a value greater than or equal to €40,000 need Enterprise
Ireland approval
Criteria

Branding and marketing €1,675.00
Technical realisation of online database €4,680.65
IT requirement, hardware & associated software €3,777.19
Insurance (£1750 stg) €2,447.80
Consultancy costs (industry specific contracting expertise) €2,250.00
TOTAL COSTS €14,830.64
Of which 50% grant requested €7,415.32
EMPLOYMENT
2.5 EMPLOYMENT GRANTS based on promoters x 2
and 1 part time Administrator €25,000
TOTAL GRANT REQUEST €32,415.32
Priming Grand Funding Example
Note some LEOs take differing approaches

BUSINESS EXPANSION GRANT is designed to assist the business in its
growth phase after the initial 18 month start-up period. Same criteria
and funding levels. Business that had availed of a Priming Grant will be
ineligible to apply for a Business Expansion grant until 12 months after
approval/drawdown date of Priming Grant whichever is the later.
PLEASE NOTE – part of the LEO grants are repayable
Typically 30% of your grant amount.
(for example – 30% of €30,000 = €9,000
is repayable @0% over 3 years = €3,000 p.a.)
Business Expansion Grant

Feasibility/Innovation grants for those investigating new innovative
business projects.
Assistance to a maximum of 60% of the research, design, and prototype
development costs may be awarded subject to a maximum grant of
€10,000*.
Funding Opportunities

Contact the LEO for initial chat. www.localenterprise.ie/ your county
You must
• complete the official application form, provide a business plan and
financial projections
• Provide quotations (under €5,000 = 1 quote, over €5k = 3 quotes)
The Application Process

• The categorisation of your business is very important
• If struggling, ask for mentor support
• Match funding needs to be in place
• As for all funders – a compelling business plan is essential.
• Grants are payable in arrears on the basis of expenditure (net of VAT)
being properly vouched- you need to factor this into cashflow
The Application Process - Tips

When assessed by LEO staff, your application will then be presented at
the next available Evaluation Committee meeting. From this point it will
take approximately 6-8 weeks for your application to be processed. The
Evaluation & Approvals Committee will then make a decision to either
approve or reject the application.
Applicants will then be notified in writing of the decision of the
committee. If your application is approved you will receive a letter of
offer along with conditions of grant aid and a checklist of how you can
claim the grant assistance approved.
The Steps…

Under 35 ? It is a really good idea to apply to the Irelands best young
entrepreneur competition http://www.ibye.ie/ Each county has a
investment fund of €50,000 to award to Category Winners

MENTORING - A panel of business specialists – finance, marketing,
technical etc. who contributes independent, informed observation and
advice to aid decision making.
Who Qualifies? The Mentor Programme is open to both new and
existing businesses located within the LEO region.
Some LEOs offer other supports e.g. in Roscommon, you can apply for
https://www.localenterprise.ie/Roscommon/Training-
Events/Programmes/Programmes.html
Worth tapping into…

In-House Training - A training grant is available to businesses to up-skill
owner/managers or their staff, in-house. The grant is set at a rate of
50% of the training costs, subject to a maximum of €3,000 to any
one business in any one year.
Website Design and Upgrade - A grant is available to enable businesses
create a new, or upgrade an existing website. The grant is set at a rate
of 50% of eligible expenditure, subject to a maximum of €750 for a new
site and to a maximum of €600 for an existing site. The grant offer is
for 12 months duration. Trading on line Voucher Scheme offers eligible
businesses €2,500 at a rate of 50% to develop an E-commerce website.
Other Supports

Exhibitions - A grant may be available for participation at an Exhibition
or Trade Fair. Applications are assessed on a one-to-one basis. The grant
is at a rate of 50% of the Stand Space, subject to a maximum of €3,000
to any one business in any one year.
Branding/Rebranding/Marketing - Grant aid is available at a rate of
50% of the net cost of eligible expenditure, up to a maximum of €1,000
to any one business in any one year, to cover Branding/Rebranding and
Marketing: design of letterhead, compliment slip, flyer or brochure to
further the Identity.
Other Supports

• Applicant business must be registered & trading for at least 12 months;
• Vouchers are available to a maximum value of €2,500 or 50% of eligible
expenditure (exclusive of VAT), whichever is the lesser;
• Must attend an information session
• Voucher approval must be gained prior to incurring any expense;
• Own labour is not an eligible expense;
• Third party costs only will be considered.
Online Trading Voucher
https://www.localenterprise.ie/Discover-Business-
Supports/Trading-Online-Voucher-Scheme-/2015-
LEO-Online-Voucher-Application-Form.pdf

• IT consultation;
• Development or upgrade of an e-commerce website;
• Implementing Online payments or booking systems;
• Purchase of Internet related software;
• Purchase of online advertising (this purchase cannot make up any more
than 30% of approved Voucher costs & can only be drawn down in one
payment phase);
• Developing an app (or multiplatform webpages);
• Implementing a digital marketing strategy i.e. Social media marketing;
• Consultation with ICT experts for early stage adopters of online strategy;
• Training/skills development specifically to establish and manage an on-
line trading activity.
What is covered under the Online Trading Voucher?

The Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs is
the programme manager for LEADER.
In Ireland, the overall LEADER budget is €250m and it is focused on
promoting social inclusion, poverty reduction and
economic development in rural areas
It is implemented through Local Actions Groups – find yours on
https://www.pobal.ie/Publications/Documents/Local%20Action%20Groups.xlsx
Leader 2014 - 2020
”
“

Each County has a Local Community Development Plan
which may have differing priorities
An overview of the LEADER programme funding streams…

No repayability
Funds are more limited than previous Leader programme....
• Maximum grant rate of up private promoters is 50%
• Up to 75% for community organisations
• Training activities may be funded up to 100% - very useful for creative
network development
• Benefit in kind may also be used.
Worth Noting

The Process
1. Expressions of interest form
2. Eligible in Principle notification which invites you to make a full
application.
3. (The submission of an Expression of Interest for LEADER grant assistance
or this acknowledgement itself may not be taken as an indication that
the project is eligible or will be awarded grant aid)
Worth Noting

Enterprise Ireland is the state agency responsible for supporting the
development of manufacturing and internationally traded services
companies. They provide funding and supports for companies - from
entrepreneurs with business propositions for a high potential start-up
through to large companies expanding their activities, improving efficiency
and growing international sales.
The definition of a high potential start up is critical.
‘likely to achieve significant growth within three years with sales of
€1m per annum and employment of 10 or more’
Who are Enterprise Ireland?

The objective of the Competitive Feasibility Funds is to assist new start-up
companies or entrepreneurs, to investigate the viability of a new growth-
orientated business proposition which has the potential to become a High
Growth Potential Start-up (HPSU).
These are companies that can develop scalable innovative technologies,
products or services for sale on world markets. The Fund support projects
that are likely to achieve significant growth within three years (sales of
€1m per annum and employment of 10 or more). Must be a manufacturing
or an internationally traded services business
https://www.enterprise-ireland.com/en/funding-supports/Company/HPSU-Funding/Competitive-Start-
Fund-All-Sectors.html
Competitive Feasibility Fund (CFF)

Innovation Vouchers worth €5,000 are available to assist a company or
companies to explore a business opportunity or problem with a registered
knowledge provider (e.g. Institute of Technology, National College of Art &
Design).
• Open to all limited companies
• Not open to sole traders, companies with charitable status, “not for
profit” organisations, trade associations, Chambers of Commerce
Apply through open calls within the
Enterprise Ireland Online Application System.
https://www.enterprise-ireland.com/en/Funding-Supports/Company/HPSU-Funding/Innovation-Voucher.html
Innovation Vouchers

While not a grant, it is an important fund to allow those embarking on self
employment to retain some existing welfare benefits while setting up a
new business. There are now 2 different Social Welfare backed schemes.
The amount you receive & length of time on scheme will depend on which:-
• Back to Work Enterprise Allowance (BTWEA) scheme:
If you have been in receipt of a Social Welfare payment for 12 months or
longer and you must also meet the means test for Jobseekers Allowance
• Short Term Enterprise Alliance
If you are on Jobseekers Benefit, you qualify immediately to go on the
scheme. Jobseekers Benefit is paid for either 6 months or 9 months,
depending on your PRSI contributions.
Enterprise Allowance

You can qualify for a Back to Work Enterprise Allowance if you are getting
up as self-employed in a business that has been approved in advance in
writing by a DSP case officer or Local Development Company (LDC).
You can keep a percentage of your social welfare payment for up to 2 years.
You can also hold onto secondary benefits.
Enterprise Allowance
In year 1100% In year 275%

Back to Work Enterprise Allowance (BTWEA) scheme:

• In addition to income support (your weekly payment), you can also get
financial support with the costs of setting up your business under the
Enterprise Support Grant (ESG).
• The business plan you submit as part of your application for the scheme
must set out the rationale and requirement for financial support. The
ESG can pay a total of €2,500 in any 24-month period
• You must be able to make a matching contribution of at least 20% to
access grant support. You need to provide documentary evidence of the
costs (quotations from at least 2 suppliers or, if a single supplier, the
reasons for choosing a single supplier).
Back to Work Enterprise Allowance (BTWEA) scheme:

Combination of
these eligible costs in
any 24-month period
to a maximum of
€2,500
Category Annual limit, €
Minimum
contribution from
applicant
Accountancy and related services including
legal advice
Up to €500 20%
Advertising and marketing aids Up to €500 20%
Business equipment Up to €1,000 20%
Business mentoring (this can be offered free or
at a reduced rate by Local Enterprise Officers
(LEOs) or local development companies
Up to €250 20%
Business registration costs and fees Up to €250 20%
Compliance, guidance and training Up to €250 20%
Job-specific tools and equipment Up to €1,000 20%
Office supplies and stationery Up to €250 20%
Personal protective clothing and equipment Up to €250 20%
Public liability insurance costs associated with
setting up a business - no other insurance is
eligible
Up to €1,000 20%
Short-term training on book-keeping,
regulation, rollout of business plan, start-your-
own-business and courses of training related to
the start-up
Up to €250 20%
Signage Up to €500 20%
Upgrading to premises where the premises is
owned by the applicant
Up to €1,000 20%
Website registration, related services and
production
Up to €500 20%

Successful Creatives
availing of this support
www.michellemadethis.com

www.irrelevantfish.com
Check out their blog for brilliant
insights into being a creative
entrepreneur
Productivity as a self employed
developer -
http://www.irrelevantfish.com/ess
ay/2016/04/21/productivity/
The fear - Life in the wild west
Setting up a creative business in
the west of Ireland
http://www.irrelevantfish.com/ess
ay/2014/02/01/wildwest/

'Start-Up Relief for Entrepreneurs' (SURE) scheme
http://www.sure.gov.ie/
PAYE workers who opt to start up their own business may be entitled to
income tax refunds (going back up to 6 years) of up to 41pc of their capital
investment up to a cap of €100,000.
http://www.revenue.ie/en/tax/it/leaflets/it15.html

Sources of Grant Information
Active Link www.activelink.ie
The online network for Irish non profit
organisations. The website is updated daily
and the latest information is published and
circulated once a week by email.
Free resource. Great Facebook page
www.facebook.com/ActiveLinkIreland
Philanthropy Ireland is the Association of
independent philanthropic organisations in
Ireland, including grant making trusts and
foundations Excellent Looming Deadlines
webpage
http://www.philanthropy.ie/2017/01/24/fun
ds-and-the-looming-deadlines/

Funding specifically for
creative sector entrepreneurs

Examples of funding streams -
http://www.dccoi.ie/craftspeople/opportunities/type/upcoming
External Exhibitions Fund
The External Exhibitions Fund has been established to assist the
development of high-quality, independent exhibitions run by individuals,
organisations or groups. This annual fund supports a small number of
professionally produced exhibitions featuring Irish design/craft in Ireland or
abroad.
International Fair Fund
The International Fair Fund has been developed to financially assist
designers/craftspeople in reaching key export markets. The fund provides
limited match funding for wholesale trade fairs abroad.

Future Makers Awards & Supports
http://www.dccoi.ie/craftspeople/opportunities/type/upcoming
DCCoI’s Future Makers Awards & Supports programme rewards the next
generation of creative makers, providing support for development of an
exciting career in the craft and design industry. The programme
funds research, training, residencies, exhibitions, studio development and
more. www.futuremakers.ie

The Arts Council is the national agency for funding, developing and
promoting the arts in Ireland. Arts organisations, artists, and groups
working with the arts can apply for funding. Discover what funding is
available then register for online services to submit an application.
http://www.artscouncil.ie/available-funding/
Encourage the entities and groups you work with to apply.

Local Authority Arts Office is an important source
of funding, let’s look at Leitrim as an example

The Arts Festivals and Events Support Scheme is open to
organisations that develop and present arts events that maintain the
highest standards of programming and presentation for audiences in
Leitrim. Applicants will be assessed on the quality and ambition of the
proposed activities, the benefit to Leitrim audiences and artists, and the
feasibility and the completeness of applications in terms of budgetary and
project management capacity.
Artists for the Artist in Schools Scheme 2017/2018
The Arts Office is also looking for four artists to take part in its Artist in
Schools Scheme 2017 and 2018. Artists can be from any arts discipline
and must have extensive experience in delivering high quality arts
experiences for children and young people and a commitment to working
in collaborative contexts.

Community Groups are invited to apply for the Artist in
the Community Scheme.
Four groups will be selected on the basis of wanting to work with an
artist, and being able to commit to a project, in terms of the time, space
and materials required for a project to be successful. Once the groups are
selected, there will be an open national call for suitably experienced
artists to work with each group.

Culture Ireland - http://www.cultureireland.ie/
Culture Ireland operates a range of funding programmes to support and
promote the presentation of Irish arts internationally. The current
initiatives include a Regular Grants round including a Showcase
programme:
E.g. Including the Culture Ireland
annual showcase at the Edinburgh
Festivals, presenting a biennial
showcase of contemporary Irish
choreography at Tanzmesse
contemporary dance showcase
[Dusseldorf], and leading the Irish
delegation to the annual WOMEX
World Music Expo.

While not grants, residencies
can be very advantageous
The term ‘artist residency’ covers a broad spectrum of activity and
opportunity for artists. There is no set format for a residency and it can
take many forms and be based in a broad range of organisations.
Residencies can last from as little as two weeks to as long as a year. They
vary from:-
• ‘residential’, offering artists both a living and working environment
• a structure for engagement between the artist and host organisation.

While not grants, residencies
can be very advantageous
What all residencies have in common is an invitation for an artist to
engage with a particular environment and for them to undertake some
element of their practice in this context. This invitation typically has a
particular time frame placed upon it and a clear objective on behalf of
the inviting organisation.
See more - http://visualartists.ie/the-manual-a-survival-guide-for-visual-
artists/kindred-spirits-studios-residencies/undertaking-residencies/

Example - Artist & Youth Work Residency Scheme
The Artist and Youth Work Residency Scheme is a grant scheme for youth
arts projects funded by The Arts Council and the Department of Children
and Youth Affairs and managed by the Arts Programme of The National
Youth Council of Ireland.
The Scheme is designed to promote innovative partnerships between
youth groups, artists and (where relevant) arts organisations. A residency
may take the form of an artist in residence in a youth work setting and/or
a youth group in residence in an arts setting.

Example - Artist & Youth Work Residency Scheme
Young people will have the opportunity to work with and learn from
practitioners of excellence in their field. Equally, artists will have the
opportunity to enrich their own professional practice through the
contextual experience of working with young people.
http://www.youtharts.ie/content/artist-youth-work-scheme

Visual Artists Ireland
The Representative Body for Visual Artists in Ireland and is funded by the
Arts Council. Grants and Awards page is useful -
http://visualartists.ie/category/jobs-ops/funding-awards/
Membership based
Standard rate for artists living
on the island of Ireland €50
Concession rate for students or
unwaged artists living on the
island of Ireland €25
Organisation €180
http://visualartists.ie/join/membership-form/online-membership-form/

Opportunities in the Pipeline
Creative Ireland – the new five-year all-of-government initiative, from
2017 to 2022, which at its core is a wellbeing strategy which aims to
improve access to cultural and creative activity in every county across the
country. The Plan has 5 pillars:
1. Enabling the Creative Potential of Every Child
2. Enabling Creativity in Every Community
3. Investing in our Creative and Cultural Infrastructure
4. Ireland as a Centre of Excellence in Media Production
5. Unifying our Global Reputation
http://creative.ireland.ie/

Opportunities in the Pipeline
Key Creative Ireland initiatives to be delivered in 2017 include:
• The publication of a five year ‘Creative Children’ plan which will enable
every child to access tuition in music, drama, art and coding
• Each Local Authority will appoint a Culture Team to drive local needs
and will publish a Culture Plan for their own county
• A new annual cultural day, ‘Cruinniú na Cásca’ to be held nationwide
on Easter Monday each year,
• The Departments of Arts and Social Protection will devise a
mechanism to assist self-employed artists who have applied for
Jobseekers Allowance. This would be a pilot scheme

Accelerators

Accelerators & Incubators
There are 27 different accelerator and incubator programmes in Ireland
and competition for places on them is fierce.
Incubators are generally for new companies
Incubators nurture the growth of a new business as the name suggests.
An incubator typically offers shared office spaces, networking and
mentoring opportunities and perhaps some seed capital. Co-working is
often a part of the incubator experience, though some offer private office
spaces. See Module 7.

Accelerators & Incubators
Accelerator programmes are for businesses in growth
Geared towards existing businesses that have the potential to grow. The
other critical distinction between accelerators and incubators is that, as
well as offering office space and mentorship, accelerators typically
provide seed capital in exchange for a share of the business.

Accelerators
In Dublin the acceptance rate of 21 per cent, while outside Dublin 42 per
cent of start-ups that applied for accelerator programmes accepted on to
them. Technology based accelerators include
NDRC Launchpad at The National Digital
Research Centre (NDRC) http://www.ndrc.ie/
is the leading Irish IT incubator and is
considered one of the best of its kind in the world
Dogpatch Labs http://dogpatchlabs.com/

New Frontiers Programme
New Frontiers is Enterprise Ireland’s national entrepreneur development
programme for innovative, early-stage start-ups. The Programme is run
by Institutes of Technology and is a three-phased programme, based in
14 campus incubation centres across the country. Each year, New
Frontiers funds 150 companies. You need to prove you can run a
sustainable new business, trade internationally, create employment.
http://www.newfrontiers.ie/
Main Benefits of this Programme
• De-risk your business model
• €15,000 tax-free grant (in phase 2)
• No equity taken from your business
• Hot-desk and incubation facilities
• Introduction to government &
private investment opportunities

Microfinance
a source of financial services for
entrepreneurs and small businesses lacking
access to banking and related services

Can really recommend
http://microfinanceireland.ie/
Targeted at start-up or growing
microenterprises across all industry
sectors (includes retail).
Find it hard to raise match funding?
Rejected by the bank?

Provide unsecured business loans of €2,000 to €25,000 for commercially
viable proposals . 4 loan themes…
1. Start up loan to help you get your business up and running (€5,000 to
€25,000)
2. Cash flow loan to support cash flow and the day to day running o the
business running (€5,000 to €25,000).Must be established 18 months
3. Expansion loan to help you develop and expand your business running
(€5,000 to €25,000)
4. Small loan of up to €2,000 for Start-ups and existing businesses with
low funding requirements. Simpler paperwork and quicker credit
decision -72 hours

Based on business plan –everything comes back to the business plan
• Term from 3 to 5 years
• Reduced Interest Rate 6.8% APR for LEO clients
• Flexibility on repayment terms
• First 3 months – Interest Only payments
• No fees/no hidden costs /fixed repayments
• Free Mentoring – up to 5 sessions for Start Up Loan
• Useful loan calculator -
http://www.microfinanceireland.ie/apply-now/loan-calculator/
Interesting
Microfinance Ireland are offering loans up to €5,000 at a discounted rate
of 5% to all Ireland’s Best Young Entrepreneur competition applicants.

Successful applicants… At It Again
https://www.youtube.com/watch?v=hnhYj0E35ME

WDC Micro-Loan Fund: Creative Industries
The WDC provides micro-loans of €5,000-€25,000 to creative
industry businesses for periods of 3-5 years.
http://www.wdc.ie/wdc-investment-fund/micro-loan-fund/

http://nadhura.ie/
Example - Nadura Design
Established in May 2012 by two graduates
from GMIT’sFurniture College in
Letterfrack, Nadura Design is an
international ecommerce business that
provides original furniture designs,
tailored online by the customer, using very
simple and user-friendly web-based
product selection and customisation tools.
The furniture is designed based on
sustainable principles and is manufactured
in the customer’s home country/region by
a member of Nadura Design’s network of
manufacturing partners.

Successful applicants
Bandit Films and StudioNorthWest TV
Founded in 1989 Bandit Films and StudioNorthWest TV is a video, film
and photography, digital media, Radio and TV broadcasting and
Publishing company and produces short films, TV documentaries and
feature films. More recently, the company has been a developer of an
online distribution outlet for the film work of producers based in the
North West.
The company used the WDC’s micro-loan funding to
complete the production of the feature film, Black
Ice, and for its promotion and marketing.
Visit: www.studionorthwest.tv

Crowd Funding

Crowdfunding is the financing of a new
project by raising many small amounts of
money from a large number of people.
Thousands of people and organisations across Europe have raised funding
through crowdfunding platforms, including cultural and creative projects.
Out of around 600 crowdfunding platforms in Europe, some 150 focus on
or are open to hosting cultural and creative projects.
Creative professionals and cultural organisations use crowdfunding not
only to raise money online for any idea or project but simultaneously
build up a community and improve visibility.

Crowdfunding stands for a variety of different
‘fundraising’ models. It can take the form of
Charity when people donate to an individual, project or
organisation while receiving no financial or material
return in exchange
Pre-selling when people donate towards the creation of a
specific product, such as CD, design, gadget etc.
Peer-to-Peer lending borrowing from a number of lenders via an online
platform, each lender lending a (small) amount in
return for financial compensation
Equity lending when people lend money to individuals or
organisations in exchange for company shares
Different platforms facilitate different fundraising models. Finding the
right funding model for your project is an important step for a successful
campaign.

Advantages: Access to capital without equity stakes or rigid bureaucracy.
Disadvantages: A lot of projects never get off the ground which can be
frustrating given the amount of time you can spend setting up the campaign.
Most crowdfunding platforms have an “All or nothing” model meaning that if
the funding goal of the campaign is not reached, all the contributions are
returned back to the backers.
Some donation-based funding allow for “Take it all” meaning that even if
you do not reach your target amount, you can still keep the amount donated
into your campaign.

Different platforms apply different charges depending on the model you
chose. The Costs:
• Platform Hosting Fee: Some platforms, although not all, charge an
initial cost just for hosting your campaign. This cost varies from €0-300
and will be charged to all projects, be that successfully fundraised or
not. Ask platforms what fee applies to them before starting the
campaign.
• Success fee: The majority of crowdfunding platforms will take a
percentage of the total amount raised. The percentage varies from
platform to platform and ranges between 3% and 12% of total raised.
• Payment processing fees: Look out also for a service fee for every
transaction made. Usually this fee is on average 3%. For instance, for
every €100 donation/investment, only €97 reaches the campaign.
Check each platform carefully to assess the real costs behind same.

•https://www.crowdfunding4culture.eu/map-as-table
www.beta.born.com www.crowdarts.eu/en
www.fundit.ie www.crowdyhouse.com
Niche Examples

Sector Focus: General
Crowdfunding Model: Reward
Country: United Kingdom
Year: 2011
Costs: 12%
www.beta.born.com
Niche Examples
BORN is a market network where exciting creators can showcase their
new products, their personal profiles, their brands and their teams. It’s
where devotees of quality design can discover stylish, ingenious,
pioneering products.

www.crowdarts.eu/en
Sector Focus: Performing Arts
Country: Italy
Year: 2016
Costs: PayPal fee: 3,4%
+ 0,35€ per transaction
Fundraising type: All or nothing
Niche Examples
All or nothing. Crowdarts is the first Crowdfunding platform and
Community dedicated to Performing Art which enables the spreading and
realization of innovative ideas in this sector through the support of the
community

Sector Focus: Cultural &
Creative Sectors
Country: Ireland
Year: 2011
Costs: Basic fee of 5%
Niche Examples
Fund it is an all-island crowdfunding website for Ireland’s creative
projects, giving everyone the power to help good ideas happen. Fund it is
based in Ireland, run by Business to Arts, a not-for-profit organisation
working to support resilience and transformation in the cultural sector
through research, innovation and partnership.
www.fundit.ie

Sector Focus: Design
Country: Netherlands
Year: 2013
Costs: Undisclosed
Niche Examples
We are CROWDY HOUSE – a premiere (launch) platform and marketplace
for designers and makers, both new and established. Our mission is to
democratise the design industry by helping designers and makers sell
directly to design fans all over the world
www.crowdyhouse.com

Example of funding
success on fundit
Michael Budd,
Blacksmith, Ireland
To attend CanIRON 2015
an international blacksmith
event in Cape Breton.
16 backers pledged €1,080 to
help bring this project to life.
www.michaelbudd.ie

What Michael offered for pledges
• €10 + Hand-forged MB anvil tag and a big thank you.
• €50 + Hand-forged forge mouse plus a thank you card.
• €100 + Hand-forged forge mouse, MB anvil tag, plus a thank
you card.
• €200 + One day Blacksmith course.
• €500 + Small unique sculpture, plus a thank you card
Review how Michael crafted his campaign
http://fundit.ie/project/art-and-craft-tourism
Example of funding
success on fundit

Let’s look at key crowd funding platforms
Kickstarter is an enormous global community built around creativity and
creative projects. Kickstarter helps artists, musicians, filmmakers,
designers, and other creators find the resources and support they need
to make their ideas a reality.
Important to check out the
Creator Handbook
https://www.kickstarter.com/
help/handbook?ref=learn_faq

Example of funding success on Kickstarter
See.Sense - Iconic cycle lighting
A niche online sales product
www.seesense.cc. The promoters of
See.Sense are cyclists themselves. Based
in Northern Ireland they started the
company in April 2013 and their first
Kickstarter campaign for See.Sense lights
launched in October that year. Since then
they have gone from strength the strength,
with the simple goal of enhancing
performance and enjoyment of cyclists
around the world. Through Kickstarter,
they almost doubled their pledges goal.

Amy Stephens, Confections in Ireland
http://www.amystevensart.com
From US and wanted to take up a Artist
in Residence at a bakery in Roscommon,
Ireland as part of the Art@Work
programme. Prints for airfare and
expenses. 33 backers pledged $2,025
to help bring this project to life.
Review how Amy crafted her campaign -
https://www.kickstarter.com/projects/1860505
735/confections-in-ireland?ref=nav_search
Example of funding success on Kickstarter

iCrowdFund:
An Irish crowdfunding company from the
same people that developed iDonate and
iFundraise
Rate: 4% commission
Website: www.icrowdfund.ie
CROWD FUNDING
PLATFORMS
Linked Finance:
Another Irish owned crowdfunding site
with favourable commission rates.
Rate: 2.5% commission
Website: www.linkedfinance.com

Linked Finance www.linkedfinance.com

Rate each project in terms of
• How the crowdfunding
opportunity is crafted and
marketed
• What makes it appealing?
• What can you learn from
their approach?
EXERCISE
Review 3 crowdfunding
platforms and pick a
project from each
platform

If the recipe isn’t
right, use
rejections as a
learning
experience
Everybody gets rejections
from grant funders at some
time, learn from your
mistakes:

Module 5 funding for creatives

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