The ambitious Summerland project has been masterminded by Deborah Armstrong, the founder and creative director of Glastonbury's Shangri-La experience, and crowd-funding began in November 2015.
Speaking about the search for the ideal commercial partner, Armstrong, pictured above, told Event: "The project will be stronger in the long term if we enter into a commercial partnership that enables us to marry our creative skills with the commercial skills of another company rather than doing it in-house. I’m in the process of trying to find the right partner as we need to ensure that it is the right fit both ways."
The Equity Crowdfunding campaign has been cancelled, with investors remaining Summerland founder members and retaining VIP packages.
Armstrong continued: "The investors have been really understanding, they were looking forward to having some fun with it and can’t wait for it to ramp up again. I will open the crowdfunding opportunity up again when appropriate but what was interesting is that I really got a huge amount of non-monetary value for running that campaign – not just goodwill but press, new partners, new supporters, new audience, new sponsorship opportunities and reputational benefits that I couldn’t have planned if I’d tried."
Comment below to let us know what you think.
For your daily hit of news from the brand experience community, weekly brand and inspiration updates or your monthly trend download, register and subscribe to Event and our bulletins.