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Powered by Spacehive, it provides a single portal where people with project ideas can build support from their community, ensure their plans are viable, pitch for funding from the crowd and partners at the same time, and share the impact they have created.
The council has joined with the Wolverhampton Voluntary Sector Council (WVSC) to develop the platform.
From the outset, projects created in Wolverhampton can access the following funds: Esmee Fairbairn Organisations Fund (£165,000); Esmee Fairbairn Individuals Fund (£30,000); Barclays Life Skills Fund (£10,000); Growing a Greener Britain (£50,000); and GLL Better Communities Fund (£100,000).
51% of projects crowdfunded on Spacehive are successful - higher than any other platform.
Councillor John Reynolds, Cabinet Member for City Economy, said: "Wolverhampton has a history of pulling together - over 150 years ago the citizens of Wolverhampton 'crowdfunded' the Man on the Horse/Prince Albert statue by raising subscriptions to pay for it.
"Crowdfund Wolves will help connect people, ideas and support to enable city residents to turn ideas into reality and shape Wolverhampton's future.
"We want to tap into the passion and unearth more of the local talent, innovation and creativity we know exists in the city.
"Anyone can create a project idea and anyone can pledge their support to an idea."
Make:Shift participants are encouraged to share their thoughts on how to change the City of Wolverhampton with an idea and discover opportunities to develop ideas through practical workshops from local people that are already successfully delivering great things in the city.
This year's event featured a talk from Eden Project community network developer, Diana Vogtel, who connects people across the East and West Midlands as part of the Eden Project Communities Network.
While Wolves artist and musician, Alex Vann, performed live and kick started the Make:Shift community choir.
Ian Darch of Wolverhampton Voluntary Sector Council added: "With an increasing focus on communities coming together to develop ideas, Spacehive and Make:Shift offer exciting opportunities for our city and its citizens."
Visit the Crowdfund Wolves page at Type=links;Linkid=9883;Title=Crowdfund Wolves;Target=_blank;.
- released: Monday 13 November, 2017