Saturday, December 6, 2014

With Launch UMD, University Gets Into Crowdfunding - ALISSA GULIN, The Daily Record

Launch UMD is a new crowdfunding platform at the University of Maryland, College Park. Launch UMD was unveiled in the spring with five pilot projects, all of which surpassed their fundraising goals. One of the most successful campaigns was run by the Mighty Sound of Maryland, the university’s marching band, which sought money for a new van to transport musicians and their bulky equipment around campus. The band raised $30,330 — well beyond its initial $8,000 goal. Logue said the campaign was so effective because band members reached out to anyone ever touched by the Mighty Sound of Maryland, including the legions of sports fans, athletes and cheerleaders. In all, the five pilot projects received 664 donations totaling more than $71,000. New projects are added to the site four times a year. A panel of university employees reviews applications from groups that want to be featured and chooses those with the most potential for success. The deadline for the next round of applications is Jan. 10.

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