Report: Matched Crowdfunding Boosts Donations by 17%October 16, 2017
A report by innovation charity Nesta has found that matched crowdfunding boosted the amount donors gave to a pilot programme by 17 per cent. The nine month pilot programme, which began in August 2016, used crowdfunding platform Crowdfunder to match statutory funding with individual donations from the public to fund 59 arts and heritage projects. The report, which was backed by the Department for Digital, Culture, Media and Sport, said that some £251,500 was provided by Arts Council England and Heritage Lottery Fund, while £405,941 was donated from 4,970 individuals. According to the report, the offer of a match boosted the average size of contributions by 17 per cent, from £63 to £74, compared to similar projects without matched funding.