Following on from the success of the launch of CIBN (CaribDirect International Business Network) in March 2014 and the recently held CIBN Saint Lucia where many businesses, organisations, campaigns and individuals within our Caribbean and African Diaspora expressed a real need to access funding to support their campaigns, projects, and businesses, CaribDirect Multi-Media has decided to adopt three crowdfunding models to assist them: (a) the donations-based crowdfunding model; (b) the rewards-based crowdfunding model; and (c) the pre-payment-based crowdfunding model.

These initiatives are intended to provide an inexpensive way to provide much needed financial support to businesses, organisations, individuals and campaigns within our Caribbean and African Diaspora that would otherwise be inaccessible by our community members.

 

What is Crowdfunding?

It is the practice of funding a project or venture by raising many small amounts of money from a large number of people, generally via the Internet. In our case, businesses, organisations, individuals and campaigns within our community, namely, our global Caribbean and African Diaspora.

Typically, the immediate benefits provided by crowdfunding are that businesses, campaigns, organisations and individuals successfully raise the desired funds, and simultaneously, create tremendous awareness of their projects, campaigns, businesses or ideas through crowdfunding.

Please note, we are not a loans-based crowdfunding platform (where people lend money to individuals or businesses in the hope of a financial return in the form of interest payments and a repayment of the principal over time).

Please also note, we are not an investment-based crowdfunding platform (where people invest directly or indirectly into a new or established business in return for equity in that business).

As CaribDirect has established itself as a media company that connects our Caribbean and African community, we have decided to use our vast database to help businesses, organisations, campaigns, projects, and individuals within our community by providing a platform for our community projects, campaigns, businesses, ideas, and individuals to be funded by our community.

These are the simple Principles that we ask any business, organisation, individual or campaign to commit to, when seeking to utilise our community platform to source funds from our Caribbean and African Diaspora:

 Principle 1

The business, organisation, individual, campaign, project or idea must be uniquely Caribbean or African.

Principle 2

The business, organisation, individual, campaign, project or idea must commit to empowerment and capacity building (both in terms of receiving capacity building training and support to ensure that the business or campaign or project is a success, and, equally importantly, to commit to ‘giving back socially and responsibly to our community to help empower and build capacity for future generations within our community to also be successful’).

Principle 3

The business, organisation, individual, campaign, project or idea ought to (but need not necessarily) commit to providing direct rewards or sample products or services to any person who provides financial support via our platform.

Principle 4

The business, organisation, individual, campaign, project or idea must commit to CaribDirect Multi-Media Ltd keeping 15% of all monies raised via our platform. Please note, this 15% is to cover the costs of (i) running the platform, (ii) the capacity building that is needed to ensure that the business, project, campaign or organisation is a success, (iii) support future projects over time within our Diaspora, (iv) support future projects in the Caribbean and in Africa.

 

How does it work?

Businesses, campaigns, organisations, projects and individuals will need to ‘pitch’ to CaribDirect Multi-Media Ltd. The ‘pitch’ must satisfy all the Principles listed above. We will consider whether it is a viable proposition (we do not want to ask our people to donate money to something that is clearly not going to succeed or empower our community).

If successful, the project or idea will receive our full support and backing going forward, and will be published on our website and promoted at our events.

Our community members and friends of our community can make their donations using our website. Our community members and friends of our community must know and understand that it is purely a donation. If they wish, our community members and friends of our community can elect to receive rewards from the business, project, organisation, individual, or campaign.

 

We use three different models of crowdfunding:

Donations-based crowdfunding: our community and friends of our community gives money to campaigns, businesses, organisations, individuals and projects (emanating from our community and consistent with our shared community values and our vision of empowerment) whose activities they wish to support.

Rewards-based crowdfunding: people give money to receive a reward, service or product from the business, organisation, project, campaign, or individual (like tickets to attend an event, or a sample of the product, or the download of a chapter of an e-book, or a t-shirt or coffee mug).

Pre-Payment-based crowdfunding: people give money as a pre-payment to receive the product or service from the business, organisation, individual, campaign, or project.

How much does it cost?

There is no charge to you for pitching or publishing a pitch on our CaribDirect Crowdfunding platform, however we will keep 15% of any money raised consistent with Principle 4 to ensure the success of future generations and projects within our Diaspora and in the Caribbean and in Africa.

We set no targets or caps on the amount that is to be successfully raised; whatever is raised via our platform (less the 15% we keep consistent with Principle 4), you get to keep.

 

How could our crowdfunding platform benefit your business?

The main benefit of our crowdfunding platform is that it creates a strong network of community support for your business, project, campaign, idea, concept or organisation. Our community members are donating because they support you and believe in what you’re trying to achieve. It’s consistent with all our values and our vision of empowering our community.

If you promote your bid successfully, our crowdfunding models can also provide a powerful platform to raise awareness of your business, organisation, campaign, project, or idea.

If your campaign, concept, idea, or business is consistent with the values of our community and our vision of empowerment, it in turn gives you a powerful message and newsworthy story to pitch to your local, and national, press (which may attract further new business). It also gives a clear and powerful message to potential clients, suppliers or future investors that you have the support of our community behind you.

CaribDirect Multi-Media will work diligently to promote your bid to help you raise that much needed funding.

 

Projects for funding in 2014:

CaribDirect Multi-Media connects Caribbean communities in the United Kingdom and around the world for news and information on online magazine www.caribdirect.com; and for business at CaribDirect International Business Network (CIBN) event. We help Caribbean businesses connect with influential British corporate decision-makers, Caribbean High Commissioners and entrepreneurs from every socio-economic and cultural background. Our award-winning website has readers in 170 countries around the world; and we have a sizable database that has enabled us to host successful business events and reach influential business owners, policy makers and politicians. We are now seeking funding to dramatically increase our readers around the world; deliver quality media services online, and programing on television and on radio in keeping with our vision. CLICK FOR DETAILS

Trisha Alleyne (Author)

Trisha Alleyne suffers from the rare incurable Devics Disease that has left her partially sighted and a victim of episodes of severe pain for the rest of her life. Devics Disease affects predominantly women particularly from black, Asian and Indian populations and is in the Caribbean on islands including Martinique and Dominica. Trisha who has written two books on her journey with Devics Disease wishes to spread the word to the many public and private medical establishments, ministries and her sisters throughout the Caribbean about this silent killer. She needs your help. CLICK FOR DETAILS