Club Funding, as far as we can determine, does not exist. Ours is – so far as known – the first ever such site on the web. Instead of a Crowd (i.e. any member of the general public), we have a Club (i.e. members connected by a common bond). The general public cannot enter the Site; the common bond gives entry to the Site; in our case only doctors on the List of Registered Medical Practitioners compiled by the General Medical Council can login to the Site.
There are several innovative elements with this approach
- Unlike Crowd Funding sites, Club Funding sites are owned by those who use them. In our example, Doctors Club is owned by the doctors who created it and by the doctors who use it after it is launched. In other words, Club Funding sites are a bit like an internet version of a Co-Op. If a Club breaks even on its operating expenses, there is little obvious benefit for the owners. However, if it operates at a profit, the owners can benefit.
- Unlike Crowd Funding sites, a Club Funding site can filter what is posted on its site to serve its members. Doctors Club has two distinct platforms.
- Friends and Family: the Club operates as an extended friends and family network where doctors club together to help each other. This is the platform where doctor members can seek support and where doctor members can offer support. The support can be of any sort, financial (donation/reward/equity) or non-financial (advice/mentor/patron) etc. The goal is to provide a web platform which operates with the level of trust of a true friends and family network.
- Guest: the Club also looks outwards to support ventures from non-members anywhere in the world which fulfil the ethos of its members. In the case of Doctors Club, the ethos is that the venture should be so financially / socially / artistically / ethically / radically significant that a doctor contributor would be proud to help give it birth. The Guest platform is where non-members (anywhere in the world) propose ventures to our doctor members where our members would be prepared to take the risk of loss (if the venture failed) in return for the sense of fulfilment (if the venture succeed).