“Online crowd funding, a powerful tool for social impact”

March 19, 2013 in General by Samer Sfeir

H4G web

When you say online technology for social impact, people could think  of social media marketing, getting exposure… What about other online tools that could make huge impact. What if these technologies give the opportunity to people worldwide not only to “like” your cause, but to fund it, be involved in it and build a productive relationship with social actors to solve it?
The US social enterprises and NGOs understood the importance of  these powerful tools such as “online crowd funding campaigns”, their investment in this sector is paying off. First, some success stories: http://www1.networkforgood.org/ has raised till now 800 million dollars of donations and http://www.razoo.com/ 142 million dollars from online crowd funding for social causes.

Why this success? Two main reasons:
1) The crowd funding concept by itself is booming in all sectors. From 2011 to 2012 the money crowd funded worldwide in various fields (technology, micro ventures, social causes…) increased by 100%.

2) People’s mentality is shifting more and more towards “social good”. It’s a fact! (Finally) people want to do good, they are more and more understanding that doing social good will eventually improve their lives. That is why they donate more, boycott brands that are socially and environmentally irresponsible, and buy products providing social impact.

The combination of these two reasons is making crowd funding for social good so powerful that we can ask ourselves: If crowd funding is channeled towards sustainable efficient solutions, would it solve some social challenges for good?

Samer Sfeir
Global Social Venture Competition Participant