Wine glass on the table

Crowdfunding for wine: what is it and how does it work?

by The Winefathers

20/OCT/2016 in Press


crowdfunding-for-wine-what-is-it

What is crowdfunding? How it works and how it can be applied to the world of wine? Let's find out what are the realities which first promoted it and what we need to start using it!

If you ask Luca, our CEO, how The Winefathers was born, he will tell you that one day he discovered the world of crowdfunding thanks to two sites: Etsy and Kickstarter. A beautiful discovery that gave origin to our story, but you already know it and we don’t want to bore you. So let's talk about crowdfunding, in general, in the wine world. First of all, what is it? It is a collaborative process of a group of people who are using their own money to support the efforts of people and organizations. Moreover it’s a practice of micro financing that mobilizes people and resources.

As you know, the most popular platforms for crowdfunding are Indiegogo and Kickstarter, both Americans with offices in San Francisco and New York. These platforms are used to promote anything from projects in aerospace up to the wine. They are not specialized for the wine business, and actually they work better with apps and technology. In the world of crowdfunding we have different realities that works specifically with wine, and two in particular:

 

Cruzu: platform made in USA with great vintners among its customers, especially Italian ones. It works very simply, winemaking projects are financed and if they succeed people will get gadgets, bottles and experiences.

Fundovino: we move to France, where this project was born. Closely linked to the “all or nothing” philosophy, the winemaker sets a target and if it’s not reached he gives everything back.

 

In Italy there are still no real crowdfunding platforms related to wine, but you can get good results with more generalist sites like www.crowdfunding-italia.com. Working with crowdfunding means spending a lot of time in creating or telling a story and a project, especially through new digital technologies such as social networks. You need a continuous and constant storytelling and an open and curious approach. If you want to start this type of business you need a lot of patience and some skills in the digital world.

So if you really want then try and learn, maybe through mistakes, but you will see that with the right approach and with some good advice the results will come!

 

Photo: http://www.edisonawards.com/news/crowdfunding/