The Wave Bristol launches crowdfunding campaign
The Wave, a proposed in-land surfing lake on the outskirts of Bristol, is launching a crowdfunding campaign sparked by public demand.
It is seeking £150,000 to put toward the sustainability plans for the site.
The Wave Bristol, which aims to build on site in 2015, received planning consent in June (2014) and secured up to £840,000 worth of funding from the West of England Local Enterprise Partnership in July to help with major infrastructure work.
It will involve creating a freshwater lagoon incorporating Wavegarden technology to generate artificial waves suitable for novice and experienced surfers.
The funds raised by the £150,000 campaign on CrowdFunder would allow The Wave to fulfill some of its long-term sustainability goals earlier than planned, according to the founder behind the project.
Nick Hounsfield, a South West Business Insider 42 under 42er, said: "Right from the early days of the project people have asked whether we would be running a crowdfunding campaign and since planning has been approved we have received hundreds of emails asking whether people can pre-buy membership to the site.
"We want as many people as possible to be part of this project, we want to create a sense of community ownership and we want that community to help shape our plans.
"Given all of this, it makes absolute sense to go down the crowdfunding route for specific elements of the project."
Of the money raised, 2 per cent will go to the Making Waves Foundation, an independent charitable trust set up to fund community projects and charities in the local area. Additional funds raised by the campaign will be going to push forward some of the project's sustainability plans.
"The crowdfunding campaign is not about financing the basic build, it is about funding some specific areas of the business that we feel passionately about," Hounsfield added.
"There are exciting discussions taking place with potential investors regarding the bulk of the project and we are currently carrying out due diligence on a short list of options. We will be making an announcement regarding key funders as soon as we can, but suffice it to say that we are still on track to start building in 2015."
The site in the village of Easter Compton near Junction 17 on the M5 received planning approval in June and aims to open its doors in 2015.