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Page last updated at 07:02 GMT, Saturday, 11 August 2012 08:02 UK

The 'good old-fashioned patronage' of crowdfunding

A significant number of shows at the Edinburgh Festivals are funded thanks to what is known as "crowdfunding".

Michael Troughton, founder of WeFund, explains that crowdfunding is an online platform that allows anyone with an idea to try and raise money for it.

"It is good old fashioned patronage, rather than investment," he told the Today programme's James Naughtie.

Francesca Roberts, explains how she put up a video on WeFund very early in the rehearsal stages, raising enough money to take her show to this year's festival.

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