Crowdfunding for Athletes Shows Potential

Some Canadian athletes made headlines last month as they experimented with a new form of fundraising. Like most other industries, crowdfunding for athletes now demands attention as teams and individuals around the world train for Winter 2014 and Summer 2016 Olympic events.
The athletes in the news, in particular, used the platform Pursu.it, in which they posted short films online outlining their financial goals, offering equipment, lessons, autographs, apparel, and in-person meetings in exchange for donations.
Similarly, last week, USA Luge Team began their crowdfunding campaign on Indiegogo, with hopes of raising $50,000 for training, equipment, and travel. According to Bill Kerig, the founder of the crowdfunding for athletes portal RallyMe.com, every athlete and sports team will be using this method to gather funds within the next five years. The growing popularity seen in the media already supports his predictions.

 

Crowdfunding for athletes is an interesting concept, as it can only be done through donation and gift-based practice. The idea of funding an athlete’s dreams connects the fans to that individual in a completely new way, which could revolutionize the industry. Social media, of course, plays a huge role, so it is crucial for these athletes to genuinely interact with the public in order to succeed. For Olympians specifically, they provoke a sense of nationalism as well, and this feeling of pride could generate wide-scale support from a larger audience.
Although Olympian campaigns are in the news, crowdfunding for athletes is a much less refined industry: aspiring individuals, fitness fanatics, clubs, organization, and event organizers can all use this as a primary source of funding. Sporty Funder, for instance, supports all sport-related projects and has shown some great potential. For individuals and teams, Make a Champ has leveraged their powerful community to help athletes achieve their dreams. Using the website’s motto, crowdfunding for athletes can be summarized: “It takes a community to build a champ.”