It is a smart idea for Enactus teams to be aware of opportunities to grow their funding resources. New financing options such as crowdfunding can maximize the impact of Enactus projects and help more people in communities across Canada.

Crowdfunding is the collective effort of individuals who network and pool their money to support efforts initiated by other people or organizations. It is turning into a valuable resource for teams looking to finance their dynamic initiatives by leveraging the collective power of individuals.

Many platforms such as Indiegogo, Catalyst, and Kickstarter provide ample opportunities for teams to set funding goals for projects and then allow concerned citizens to back the project financially. This enables the team to work with the community to transform lives and shape a better, more sustainable world.

One great opportunity for financing is through the Ashoka Canada Changemaker Challenge. The Changemaker Challenge is a national campaign to inspire and support social innovation among students. Whether you have the beginnings of an idea or a full-fledged project, Ashoka Canada wants to help you share your story and create the next chapter. This year’s Ashoka challenge extends to organizations and individuals who launch campaigns to crowdsource or crowdfund.

Turn to your networks and invite them to co-create.

Ashoka Canada will promote your campaigns to their networks of changemakers. For crowdfunding projects, you may even be able to qualify for matching funds of up to $2,500!

Leveraging opportunities like these will allow your team to properly resource your projects and will better connect you with the communities which you serve. Good luck and keep us posted if you decide to enter the challenge!