Crowdfunding the Trentino WU: A New Way to Enhance and Spread the Event

TRENTO – A new crowdfunding project has been launched to support the next edition of the Winter Universiade (Trentino 2013). It aims to raise funds internationally for a 12 side projects to the sporting event later this year in Italy. It is a world first, with no sporting event of similar size, (4,000 participants, of 57 nations), having ever launched a crowdfunding campaign to support its funding needs.

The chosen platform was indiegogo () yet the campaign revolves around a very special campaign website . Project Manager André Silva, graduate of NOVA School of Business and Economics and a Master in International Management at the Faculty of Economics, University of Trento, explains it in more detail: “We want to introduce a new approach to international events. By letting people in on the event’s organization, we are seeking to fund 12 projects which we are prepared to realize but for which we have no funds. And of course, on top of that, we are giving awesome perks and special recognition for such support.” The project also has an important communicative value because it brings the Winter Universiade logo and the name of Trentino to the attention of millions of people worldwide.

Crowdfunding relies on the Internet to financially support projects, ideas and initiatives. In the case of the Universiade, a non-profit cause, the aim was to present a new model for crowdsourcing large-scale events and prove it by doing its first application and putting it to the test. “This campaign creates a new form of participation and engagement for the crowds following international events. In short, backers will own a part of the event. This means they can decide precisely how their contribution will be used. Each backer will also create a profile and a territory on the campaign website, as well as be able to choose from an offer of perks from exclusive Universiade items to Holiday packages in Italy.”

Crowdfunding garners the attention of millions of people, and gives them all the ability to choose to support projects that may not be accessible in normal channels. In the case of the 26^th Winter Universiade 2013, Trentino leans on the interest of supporters to be part of the organizing team psychologically. In return for financial support they are awarded the gadgets and the pixels of the logo (the ‘U’ design which combines the Universiade in the Dolomites) on the website . Backers also have the opportunity to see their profile appear as they pass the mouse over the big Logo. The higher the contribution, the greater the space given.

Crowdfunding is becoming widely used across the globe. In fact, crowdfunding has been used to collect approximately $1.5 billion globally in 2012 and – according to Forbes magazine – this year will reach three billion, with a projected exponential up to 500 billion within the decade. Crowdfunding is changing the way businesses start and products reach the market, and as shown by this campaign, it is also a great way of promoting new ideas and proving new concepts.

(Source: Trentino WUOC 2013)