In the first two rounds of the crowdfunding programme in 2015, the Mayor pledged £600,000 towards 37 projects. In the second round alone, more than 2,000 Londoners came together on Spacehive to back 15 successful campaigns with £450,000 in pledges, adding to the Mayor’s £285,000.
The Mayor also served as a catalyst for building wider support for the projects. There was an increase of 171% in the number of pledges received after he pledged his support and an increase of 233% in the average monetary value. Pre-Mayoral pledge projects received an average of £60 per day and afterward they received an average of £200 per day. The result has been a strong success rate of campaigns backed by the Mayor, leading to more exciting projects happening in London.
Projects have been diverse – from community gardens and trader’s markets to converting a water tank into an art gallery. The Peckham Coal Line was one of 37 projects across 15 London boroughs that successfully lobbied for support through this campaign. Discover more about this project here.
Early research into the pilot has revealed many positive social impacts, from the increased sense of civic pride and local ownership within communities, to the new skills, knowledge and experience gained through an opportunity to participate in the process of civic improvement. Local groups coming together to propose ideas has allowed new relationships and connections to flourish, helping to build stronger communities.