BACKGROUNDER

03/13/18

JUMP, CORWDFUNDING AT VIRGINIA TECH

Crowdfunding is an internet platform that allows donors to support projects,

varying from research, events, outreach and scholarships nationwide. The practice of

crowdfunding dates back for centuries when authors and publishers raised money to

support their projects. In 1997, crowdfunding started when a British rock band funded

their entire United States tour through crowdfunding platforms. Since the rise of the

internet, more people have begun to utilize this practice in order to make a difference in

their communities.

Individuals also use crowdfunding to assist in the paying of medical bills or

funeral expenses. Several apps have assisted in the streamlining of these campaigns

including ArtistShare, Kiva, IndieGoGo, Kickstarter, GoFundMe, Microventures and

YouCaring.

In the Spring of 2017, Virginia Tech brought their own educational

crowdfunding program, Jump, to its campus in Blacksburg, Virginia. ‘Jump’ allows

donors to support projects at the university with meaningful missions that support the

culture of Ut Prosim or “That I may serve”. Donors can choose to donate levels of

monetary value ranging from five dollars to $100. (AP)

Projects that apply for Jump tend to have a goal of making an impact. They are

piloted by strong leaders that are passionate about making a difference. The majority of

platforms that have been successful have clear, specific goals that adhere to a deadline
which creates a sense of urgency to encourage donors to take actions. Various types of

projects may be funded whether they are scholarships, research, outreach or service

oriented. Crowdfunding campaigns on college campuses tend to take a semester long and

have benefits for the immediate and surrounding communities.

Since piloting at Virginia Tech, Jump has successfully funded 27 different

projects; one of the largest organizations is Virginia Tech’s Collegiate Relay for Life.

Saddling-up with Conrad Cavalry by the Virginia Tech Corps of Cadets was logistically

the most rewarding to the organization. They funded 190 percent of their goal with 72

donors. The mission of their campaign was to provide scholarships and gear for any cadet

that was interested in joining the Conrad Cavalry.

Overall, Jump has received 1,650 gifts totaling $141,066. Right now, the

organizations currently campaigning through JUMP include: the Black Male,

Architecture and Design Program, University Libraries, The Cardio Team, School of

Performing Arts, VT Autism Research Center, Granata Biochemics Lab, Service Without

Boarders, SEAC, CIRED, SAFE and the Hahn Horticulture Garden.

Media Contact:
Name: Nicole Verdin
Email: nicoleev@vt.edu
Phone: 703.508.0454