HOW THE NEW REALITY AFFECTS: Funding In 6 slides

Sector experts are calling for funders to prioritise core costs over individual project ideas in the next few years. This is the only way some organisations will be able to deliver the internal culture and infrastructure changes needed to digitally transform themselves.

#1

There is a dangerous gap in knowledge that is stopping effective funding of digital transformation programmes:

Funders may be discriminating against tech-led bids due to lack of knowledge.

Potential fundees are rushing into digital project bids without the necessary skills.

#2

The new range of social finance options is not yet being fully utilised by non-profits. Some organisations need to question whether there are more sustainable ways to operate than living on grant-funding.

#3

Some of the most successful digital transformation work has been funded by re-focusing internal budgets rather than looking for external investment.

This sometimes means making the tough decision to stop a more familiar (but less important) area of operations.

#4

Whilst Crowdfunding is unlikely to be able to support the core costs needed for internal digital transformation – it is rapidly becoming a new option for funding digital service project work.

#5

In successful transformation a lot of changes aren’t about asking for new money… but spending it differently”

Owen Pringle, Founder, Therein

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Credit: Mohtj

Thank you

JulieDodd

http://thenewreality.info

Insights taken from The New Reality digital transformation report:

#NewReality