What is Spacehive?
Spacehive is an online crowdfunding platform focused specifically on funding civic improvement projects proposed by community groups, non-profits, local governments, and entrepreneurs. Some examples of projects that have been funded through Spacehive include new community centers, parks, public art installations, green infrastructure, and various neighborhood amenities.
The platform allows project champions to create a campaign page outlining their proposal, set a fundraising target, and rally support. If the proposal reaches its fundraising goal within a set timeframe, the money is released and the project goes ahead. If not, the money gets returned to contributors and the project doesn't get realized.
A key aspect of Spacehive's model is providing match funding from third parties - often local governments, companies, foundations and grant-makers - to help push projects over the funding finish line. Over 75% of successfully funded Spacehive projects have match funding attached.
As a civic crowdfunding platform, Spacehive aims to support projects that provide community benefit, encourage collaborative city-making, and help groups take action to transform public spaces.