Invitation for collaboration with CRCWSC researchers to study crowdfunding for WSUD projects
Researchers at the CRC for Water Sensitive Cities (CRCWSC), based in the Economics Department at Monash University, are studying how to apply crowdfunding to local water sensitive urban design (WSUD) projects. The researchers and the CRCWSC invite industry partners to participate in this novel research project.
What is civic crowdfunding?
Civic crowdfunding:
- is similar to traditional crowdfunding except that it focuses on the public sector
- provides a novel and innovative funding mechanism that allows the public sector to tap into social media and the digital economy to help fund small to medium scale community projects
- is currently used by local governments in the United Kingdom, the United States, and the Netherlands (see spacehive, citizinvestor, and neighbor.ly for examples)
- does not replace core government services or fund major public works, but rather serves as a test bed for creative pilot ventures
- engages with local constituents and empowers them to take an active role in creating water sensitive cities
What are the benefits of collaborating in this research?
Benefits include:
- raising money for valuable services and amenities
- learning about values and preferences of the community
- influencing and shaping academic research to meet mutual objectives
- establishing the organization as an innovative leader that adopts progressive governance
- improving decision-making for the allocation of scarce resources
Who are we looking for?
Ideal candidates:
- are progressive, forward-thinking local governments or organisations with the ability to implement small to medium water sensitive urban design (WSUD) projects
- have appropriate pilot projects that are relatively small scale (approximately $5,000-$50,000) and can be implemented quickly
- have in-kind support to complement donations for larger projects ($50,000-$200,000)
- have the ability and desire to engage with researchers
- may have multiple candidate projects
Who are we?
The project is run by a group of environmental economists at Monash University. Their expertise ranges from experimental economics, economic theory, and empirical analysis. Please contact Dr Daniel Brent (danny.brent@monash.edu) for more information.
Academic Research Team:
- Lata Gangadharan – Professor of Economics, Monash University
- Anke Leroux – Senior Lecturer, Department of Economics, Monash University
- Paul Raschky – Senior Lecturer, Department of Economics, Monash University
- Daniel Brent – Research Fellow, Department of Economics & Monash Sustainability Institute, Monash University
