NEWQUAY and St Austell MP Stephen Gilbert today launched a new initiative which aims to fund 100 local projects and raise £200,000 for Cornish businesses.
Crowdfund Cornwall is the first regionalised funding initiative to fund local ideas, businesses, projects and environmental and educational ventures across Cornwall.
It gives idea makers a platform from which to raise capital and generate support for individual projects while communities and supporters are able to invest in a business, a community project or educational venture in return for rewards.
Today MP Mr Gilbert, along with TV chef and presenter James Strawbridge - son of environmentalist Dick Strawbridge, Cornish businesses, creative industries and Crowdfunder project owners, launched Crowdfund in its Newquay offices on Cliff Road.
He told those present: "For me this is about the 'j' word; this is about jobs.
"It is that we harness the experts to deliver the funding to enable these good ideas to go forward. That is what is so special about Crowdfund.
"It is about helping people to realise their aspirations. I think this is an idea that is really going to fly in Cornwall.
"It's fantastic that Crowdfund Cornwall is launching from Newquay. It demonstrates that spirit of enterprise and innovation that can be unlocked in Cornwall - and could add real economic value."
To date Crowdfund Cornwall has launched 15 projects and raised over £6,469. Research it conducted suggests that for every project funded 1.8 jobs could be created.
Crowdfunder managing director, Phil Geraghty, said: "Crowdfund Cornwall is the first time a county has ever attempted to stimulate enterprise by crowdfunding its projects.
"Statistics suggest Cornwall has the second weakest economy in the country. There's 20,000 businesses in Cornwall, and 22 per cent of these turnover less than £50,000. Cornwall also has 51,000 self-employed people - one of the highest levels in the country."
Among the live projects includes James Strawbridge's mobile food company, Posh Pasties.
He said: "If we can find an inventive ways of making business happen in Cornwall, I'm all for it and am excited about Crowdfund Cornwall."
Businesses, social enterprises and communities can add projects to www.crowdfunder.co.uk and then over 30-45 days raise a target amount via an organised campaign.
The platform works on an all or nothing basis - no funds are released unless pre-agreed targets are met.
Funders can individually pledge money to a project and in return receive a reward.
Rewards are given in return for pledges and can be anything from a personalised thank you letter to a one-off experience related to the project.
