The cobudget sprint
19th to 23rd of March
Join our An funding prototype with cobudget, thanks to the partnership between euforia and tsadik.
We are looking for max 10 projects.
Deadline for signing up is 12th of March
What will happen?
The Marketplace is looking for max. 10 projects that will have the opportunity to receive some funding, through an inclusive distribution process, where all euforia members are able to vote and distribute money to the project they love.
What is the context?
The marketplace is an online and offline platform to boost the potential of our changemaking community. It helps changemaking projects to connect with interested changemakers who want to engage in them, experts who can give them support, and (in the longer run) funding.
After having worked on it for a couple of months now, we are excited to prototype a collaborative funding model for the first time, thanks to our longstanding partnership with Tsadik. Tsadik has agreed for us to use 4000€ for a co-budget sprint with the marketplace in March 2018, under the conditions listed below.
What is co.budget?
Co budget is an internal crowd-funding tool, which supports groups, organisations, networks and communities to distribute financial decision making. During the co.budget sprint we will use it as a communal voting tool.
Who can apply to the co-budget sprint?
Every project on the Marketplace can apply. The criteria to be on the marketplace is for the project holder (meaning the person who signs up the project) to sign the charter (meaning to become a member of euforia). Only projects that are ON the marketplace can appear in the co.budget sprint.
Results of the funding: Only the 5 projects who received most votes (funds), will be able to access the fundings. If a project didn’t not receive enough funds to be between the top 5 projects, their votes will be redistributed.
Who distributes the money on the platform and how?
We will invite all euforia members to take part in this co-budget sprint as distributors/voters. The available budget (4000CHF) will be distributed equally between the people who signed up as distributors. So if for example 10 people signs up, everyone will be able to distribute 400CHF. The way a distributor votes on a project is by giving money to the project. It is the distributors' obligation to read all projects and to distribute the money according to their own discernment, based on the following 7 criteria:
1. The effect the grant is expected to have on the progress of the project seems realistic.
2. Relevance: The project must tackle a real, concrete, important and urgent social, economic or environmental issue
3. Impact Potential: It’s clear what the project is going to improve for society/the environment/the economy and how this is being measured.
4. Feasibility: proof of concept and a practical step by step strategy on how to implement the project.
5. Originality and Innovation: The project provides a wow-effect by focusing on its innovations or on how it has added new and creative ideas.
6. Business Model: The project is financially viable and scalable over time.
7. Marketing and Presentation: Behind the project is passion.
No project holder can take part as a contributor.