A business ‘Kickstarter,’ PEP receives assistance to create program to find local dollars to boost economic future

Posted 8/26/14

The Local Crowd, LLC, a Laramie-based company, is teaching PEP and community members how to utilize crowdfunding techniques to raise money, find support from inside and out of the community and how to set and accomplish goals.

Diane Wolverton is …

This item is available in full to subscribers.

Please log in to continue

E-mail
Password
Log in

A business ‘Kickstarter,’ PEP receives assistance to create program to find local dollars to boost economic future

Posted

It’s a simple theory that has been proven time and time again: People working together can get more done.

The problem is how to get them to pull on the same end of the rope. Powell Economic Partnership, Inc. (PEP) has brought in some experts to help accomplish that goal and assist local businesses, nonprofit agencies and government entities.

The Local Crowd, LLC, a Laramie-based company, is teaching PEP and community members how to utilize crowdfunding techniques to raise money, find support from inside and out of the community and how to set and accomplish goals.

Diane Wolverton is the founder and CEO of The Local Crowd. She and Kim Vincent, the chief operations officer, held a training session in Powell on Aug. 19.

“We really assist a community in creating an ecosystem for fundraising,” Wolverton said after the meeting. “It’s a system we bring into the community. It’s a Kickstarter for a local community to support itself.”

The Local Crowd received a grant through the Small Business Innovation Research program that is overseen by the United States Department of Agriculture. The firm is conducting a pilot program with Powell, which was one of 16 Wyoming communities to apply. Evanston was chosen as a second site and will launch its site a couple of weeks after Powell.

“Christine really went for it,” Wolverton said.

She and Vincent are providing training and tips to PEP and Powell community members at no cost. The grant funds the program, which has a value of $25,000, according to Wolverton.

The goal is to design and test a crowdfunding incubator to help small businesses in rural Wyoming access new sources of non-traditional capital. That fits in perfectly with PEP’s goals, according to Bekes.

PEP is targeting entrepreneurial development, one of the business development priorities as identified in the Powell Community & Economic Development Strategic Plan, which was completed this summer. So far, two businesses and two local agencies are actively participating in the intensive education and training process, Bekes said.

The private entities that had projects ready for the September launch are the WYOld West Brewing Company, which plans to open a brew pub, restaurant and liquor store downtown, and Positive Progressions, a mental health agency that focuses on “play therapy,” among other areas.

Plaza Diane, which hosts art shows and community gatherings in downtown Powell, and Powell Valley Recycling, a nonprofit that collects and recycles cardboard and other recyclables, have current funding needs that they are hoping will fit the crowdfunding platform.

These four and the PEP Crowdfunding Project Team are getting a preview of the education workshops. They will learn how to establish reasonable goals, build a base of support through a network of family, friends and others, set a timeline — 20 to 40 days seems to work best, according to Wolverton — and then raise the money to accomplish its task.

PVR, for example, wants to buy a trailer to leave in prominent places in town to collect more recyclables.

“It’s going to make a difference for me — and the community,” said Mary Jo Decker, the nonprofit’s manager.

Decker said it has $10,000 but likely needs about $15,000. The goal will be to follow the program’s recommended steps and collect the remaining $5,000, she said.

During the Aug. 19 meeting, Decker and other committee members discussed ways to obtain capital, including placing the names of people and businesses who make donations on the side of the trailer. The bigger the donation, the larger the name.

They laughed as they discussed the ideas, and Wolverton said that is a vital component.

“You want to be having fun with this,” she said.

The Local Crowd seeks to start a local crowdfunding program and incubate a successful crowdfunding culture that will continue for years.

The Local Group Powell’s website will go live that day, and people can use it to learn more, to support the four projects, and to apply to become part of future ones.

The goal of the launch events, Wolverton and Bekes said, is to build enthusiasm in the community and serve as a springboard for the crowdfunding platform.

Wolverton, who has worked in both the public and private sector, said she feels this locally based fundraising approach can have a dramatic impact on communities.

“Absolutely I do. It’s a real passion of mine,” she said. “I totally agree, and that’s why I set up this business. We turn crowds into a community.”

Comments