Can we crowdfund our way to a better London?
In 2015, it was estimated that US$34 billion worldwide was raised through crowdfunding.
The Peckham Coal Line project – London’s answer to the enormously popular New York High Line – has so far raised over £75,000 from 928 backers. But what is next for this ambitious project? Major capital funding will be needed to get it built.
The Mayor’s Civic Crowdfunding Programme is the first crowdfunding scheme of its kind in a major European city. It offers local groups the opportunity to propose and crowdfund projects that will ‘improve their neighbourhood for the benefit of the wider community’. The Mayor can support and pledge up to £20,000 to kick-start a project and anybody can choose to donate via the online platform.
The London Assembly Regeneration Committee will tomorrow examine the Mayor’s Civic Crowdfunding Programme and discuss the potential for crowdfunding to deliver regeneration projects. Should the Mayor continue the crowdfunding programme? What are the risks and what lessons can be learned? The following guests will be questioned:
- Debbie Jackson, Assistant Director – Regeneration, Greater London Authority (GLA)
- Chris Gourlay, Founder and CEO, Spacehive
- Niraj Dattani, Head of Community Development, Spacehive
- Louise Armstrong, Catalyst, The Peckham Coal Line
- Keith Townsend, Executive Director Environment and Customer Services, London Borough of Ealing
The meeting will take place on Thursday, 13 October from 2:00pm in The Chamber at City Hall (The Queen’s Walk, London SE1). Media and members of the public are invited to attend.
The meeting can also be viewed via webcast.
Follow us @LondonAssembly and take part in the discussion using #AssemblyRegeneration and #crowdfunding.
Notes to editors
- Full agenda papers.
- Navin Shah AM, Chair of the Regeneration Committee is available for interview – please see contact details below.
- As well as investigating issues that matter to Londoners, the London Assembly acts as a check and a balance on the Mayor.
For media enquiries, please contact Lisa Lam on 020 7983 4067. For out of hours media enquiries, call 020 7983 4000 and ask for the London Assembly duty press officer. Non-media enquiries should be directed to the Public Liaison Unit on 020 7983 4100.