There’s been a flurry of alternative funding models emerging in our area of the sport of late – Over the next few days we’ll be catching up with four of them.
All involved agree that the financial climate is still unstable out there, and that potential programmes are having to look beyond the traditional funding methods to find traction.
The Project Brabham crowdfunding initiative, designed to kick-start David Brabham’s relaunch of the Brabham name as a race team once again adopts not only the crowdfunding model, but involves open source too with access promised to a huge amount of material and data as the new team emerges blinking into the daylight.
The crowdfunding part of the effort had a phenomenal start, over 2200 people from 58 different countries have now contributed between £1 and £10,000 to the effort with the total passing £200,000 with over a week of the drive still remaining.
Indeed 50% of the initial £250k target was reached within three days of the launch with both ‘Early Bird’ packages selling out within 4 days!
The interactive nature of the initiative saw the team turn to their early backers for ideas for further impetus once the inevitable plateauing of funders came forward.
That saw additional packages offered over and above the initial offering
“Backing Project Brabham is about becoming part of the new Brabham Racing team, which also means being part of collaborative thinking and idea sharing.
“We asked our growing community to put forward their ideas for additional Project Brabham perks. We had a huge response and we whittled down all the suggestions to eight different options for everyone to vote on.
Taking 40 percent of the ‘favourite’ vote was the chance for fans to have their name placed in history and included in the livery design of the team’s first FIA World Endurance Championship LMP2 car. As an added bonus, Name On The Car contributors (priced at £40) will be emailed an interactive 3D model of the car, allowing them to search for and save the location of their name to prove they were one of the original Project Brabham contributors.
Three further perks have also been released to meet two levels of demand. Requests for packages allowing contributions of greater than £500 and less than £10,000, plus the remaining 38.2 percent of 582 responses voted for hospitality and pit passes to various WEC events as their top survey choice.
The Le Mans Hospitality Pit Pass (@£5,500) gives 10 contributors the ultimate endurance sportscar fan experience by becoming part of the Brabham Racing team for the entire Le Mans 24 Hours weekend.
The Engineer Pit Pass (@ £5,500) will allow just four people the incredible opportunity to join the Brabham Racing pit crew, tasked with special engineering tasks to complete throughout the Le Mans 24 Hours race weekend.
The FIA WEC Race Hospitality Pit Pass (@ £2,500) will offer just 25 supporters a pit pass and full hospitality at their WEC race of choice, other than Le Mans, with the opportunity to meet Team Principal David Brabham over the race weekend.
All three of the pit pass and hospitality based experiences also include team clothing, a three-year membership to all three Brabham-Digital web applications and photo on the Founder wall of the race team’s factory.
And finally (for now!) The Project Brabham Gift Box has been introduced following feedback from funders who wanted to turn their crowdfunding contribution into a gift.
The stylish, limited edition box set includes a one-off certificate with the recipient’s name and unique contribution number, signed by David Brabham; a limited edition iconic Brabham print; a classy metal Brabham pen; a Project Brabham sew-on badge; and branded Project Brabham lanyard. All packaged in an attractive presentation box with options for UK and international mailing.
It’s priced at £50 in the UK, £65 for overseas delivery
The crowdfunding drive continues until 1 November.
Find more information about Project Brabham at http://brabham.co.uk