Capstone - Fundraising

Groups will not be getting the full amount needed. Part of the process is getting creative with your materials and spending and trying to fundraise more on your own. Remember to use what is available at school and home (recycled stuff, do not spend your own money)

Through crowdfunding, temas can realize diverse goals, including fundraising, demand testing, and marketing. Teams are able to propose existing ideas to seek financial support from backers (Copeland, 2015). They can observe users’ responses directly on the Internet, interact with consumers, and compete to test the market without distributing a large number of goods at once. On crowdfunding platforms, backers are characterized by diversity in backgrounds, high levels of education, and high degrees of professionalism. If the backers of the platform are not interested in a particular project—and this results in a deficiency of demand—there will be no need for teams to invest additional funds or efforts. Crowdfunding has also been used for marketing purposes, to generate demand for new projects in their early stages. Backers can be used to test consumers’ responses to products and may help entrepreneurs identify the market prospects facing their products or projects. This can also cultivate early users’ sense of belonging to products or projects.

Here are some ideas:

Tap into your local community

Social media

Share your acceptance of the program with friends and family on Facebook, Instagram, Twitter (X), TikTok, or other platforms. What if every friend donated $5? Every little bit helps!


Sponsorship. Ask local engineering companies, educational institutions, and local businesses to sponsor you.


Partner with / involve local businesses


Crowdfund or fundraise online

 

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