TribeSourcing
Description
Suresh Fernando:
"TribeSourcing, a term coined by Mark Frazier, is the most important feature of new platforms, one that borrows from the principles of mass collaboration which matches the platform to the group, community or movement within which it is situated. Currently crowdsourcing platforms are designed to enable a single entrepreneur to simply solicit funds from her network, but the relationship between her contacts is not a consideration. Current platforms don’t account for the fact that people are situated within communities and that the people within communities have established relationships. New platforms will therefore include mechanisms that enable projects within a particular community to be evaluated, voted upon and supported. They will also include collaboration features that enable members in the larger ‘tribe’ to provide non-financial support: helping with websites, business planning etc. This will reflect a recognition that entrepreneurs need more than simply financial capital. They need social capital and intellectual capital as well.
Characteristics
This move towards TribeSourcing will include a number of specific features that support ongoing projects (as opposed to isolated campaigns):
- the ability to run multiple different campaigns in relation to a single project (finance the development of a website, write a business plan, etc.)
- the ability for contributors to make monthly recurring contributions to support a venture’s ongoing operating cash flow requirements.
- the ability to piece out specific aspects of a project within a single campaign for funding. For example, the development of a business plan or website in support of a single event campaign."