Basel successful with crowdfunding
Basel launched Switzerland's first cantonally supported crowdfunding platform in 2012. The Basel-Stadt Department of Culture has drawn a very positive conclusion over the five years: to date, 15,000 supporters have donated over 2.2 million francs for projects in the cultural and arts sector.
Of the 338 projects to date, 256, or 76%, have been successfully funded. The average contribution awarded is CHF 143, which is above average in an international comparison.
The music projects realized in this way include a music system for the Kaschemmen club. The campaign with the highest contribution was an album production by the band Bianca Story, which raised 91,662 euros from 625 supporters.
Crowdfunding is particularly effective in areas that do not meet traditional or classic funding criteria. Since June 2012, the Department of Culture has been providing additional funding for cultural projects from the Basel region through Switzerland's first regional crowdfunding platform, a subdomain of the nationwide Wemakeit platform, without using its own direct funding.
Crowdfunding requires a high level of commitment from the project initiators. In addition to a good presentation and attractive rewards, personal networking is the most important factor for the successful implementation of a campaign.
Website: basel.wemakeit.ch
