Crowdfunding Arrives at Mines: A New Way to Fund Student Projects
Crowdfunding is the fastest growing form of fundraising on aÂ national basis, and Mines is on the cutting edge as one of a smallÂ number of universities who have launched platforms. On October 4Â 2016, the university launched its exclusive crowdfunding platform,Â the Gold Mine, to help students, faculty and staff bring the projectsÂ theyâ€™re passionate about to life.
Crowdfunding is online fundraising for a specific project through smallÂ gifts from a large number of contributors. â€œWe are pleased to provideÂ the campus community an opportunity to raise money for projectsÂ they may not have been able to get funded through more traditionalÂ means,â€ said Mines Foundation President and CEO Brian Winkelbauer.Â â€œBy showcasing some innovative projects from our talented facultyÂ and students, the Mines community can help them reach their goals.â€
Last spring the Gold Mine piloted the platform featuring two studentÂ projects. Relying on outreach to their own personal networks andÂ corporate connections, both teams exceeded their goals, raising overÂ $10,000 and receiving gifts from 113 donors across the country.
â€œCrowdfunding was instrumental in getting our feet off the groundÂ on fundraising,â€ said Ethan Palay, of the Mines Tiny House team pilotÂ project. â€œIt helped give our team credibility and was also the mostÂ effective means of communicating to my friends and family how I amÂ spending my time, and getting them excited about my project.â€Â The Gold Mine is available to help academic departments, studentÂ groups and other members of the Mines community raise moneyÂ for research, service trips, projects, events and other Mines-specificÂ ventures. Gold Mine projects have the credibility of the Mines brandÂ and teams receive personal training and coaching to help themÂ succeed.
To learn more about crowdfunding at Mines, to support any of theÂ student and faculty projects or to apply to fundraise on the Gold Mine,Â head to giving.mines.edu/goldmine.