CRUCIAL CrowdFunding is an ERASMUS+ supported project, designed to better inform all the different stakeholders who can potentially benefit from this innovative means of funding business ventures. The project will gather information on the current market conditions regarding the almost exponential growth of CrowdFunding in certain countries and amalgamate this into a pan-European vision of CrowdFunding. This will include all the key areas on both the demand and supply side of this funding mechanism.
The key groups are those seeking financial support, primarily SME's, but including start-ups and social enterprises and on the supply side entrepreneurs looking to support business investment. In addition those support agencies such as Innovation Centres, Cluster managers, and organizations, both public and private that look to support business and economic development, locally, Regionally and Nationally will be able learn more about how to use and promote CrowdFunding.
The main output will be a totally free access learning platform, with on-line knowledge awareness and learning materials, supported locally by direct partner intervention activities to better inform those considering how to benefit from this funding mechanism.
Over 4,000 beneficiaries of all types are expected to visit and gain knowledge using the materials developed, and during the lifetime of the project the partners will track usage to monitor the impact that is being achieved, from a basic improvement in knowledge awareness up to the successful gain or release of funding to a business or construction of a support programme promoting CrowdFunding.
"Simply put, crowdfunding is the process of asking the general public for start-up capital for new ventures… entrepreneurs and small business owners can bypass venture capitalists and angel investors entirely and instead pitch ideas straight to everyday internet users, who provide the financial backing’ (and at the same time, early validation of the project concepts and the projected scope of target markets).
In total, 510 live platforms were identified as active in the EU on 31 December 2014 (Platforms database, Crowdsufer Ltd.)… 502 EU platforms and 8 non-EU platforms. Platforms with a primary focus in 22 of the 28 EU Member States were identified and projects were identified in every Member State.
The UK had the greatest number of live platforms, accounting for 28.0% of the EU total number of platforms, and accounts for approximately 80% of the European alternative finance market.
The Crowdfunding market throughout Europe is diverse and complicated. Some European countries have embraced the industry and have introduced guidelines, and in some cases regulation, to address the minefield of risks and concerns that contribute to the uncertainty on behalf of both investors and investees. However, most EU member states have not yet grasped the nettle, and seem intent to wait for the EU itself to take the lead and introduce a legislative framework..."
This report examines the crowdfunding industry globally, paying specific attention to the landscape in Europe, before taking a closer look at the specific Countries participating in the
The report also looks at the legislative and regulatory situation in the USA and Europe, with an eye on what the future may hold for Crowdfunding.
The project brings together a group of countries both at the forefront of CrowdFunding, (UK & Estonia) and those lagging behind, (Spain, Ireland & Greece) and suffering acutely from the withdrawal/failure within their own countries’ supply of conventional business financial support. In addition CRUCIAL includes partners from the Czech Republic and Malta who bring specific expertise to assist the development of the materials and their successful dissemination into the marketplace.
YOUTH IN SCIENCE AND BUSINESS FOUNDATION (YSBF) - TALLINN, ESTONIA
YSBF is a non-profit organization aimed at supporting innovative ideas and creativity, disseminating information on advancements of science and technology and conducting research activities related to IT and innovation.
INSTITUTE OF ENTREPRENEURSHIP DEVELOPMENT (IED) - LARISSA, GREECE
The IED was founded in 2005 in Larissa, Greece with a vision to create an environment that promotes entrepreneurship, research and the entrepreneurial spirit and mindset of businesses, creating long-lasting relationships with society and the academic community.
RLN (UK) Ltd., UNITED KINGDOM
RLN has a long history of working with and for the business community, supporting the development of new business opportunities, including recently language and culture activities both in the UK and with EU partners. RLN (UK) Ltd’s core remit is to develop and implement language, cultural and business support activities.
MALTA COMMUNICATIONS AUTHORITY (MCA) - VALETTA, MALTA
Malta Communications Authority (MCA) has been established in 2001 with the role to regulate the electronic communications, e-Commerce and postal sectors so as to ensure efficient and fair competition, customer choice and value for money.
GLAFKA s.r.o. - PRAGUE, CZECH REPUBLIC
GLAFKA is educational institution focus on knowledge and innovation transfer in a field of a) lifelong learning and further education; b) labor market and entrepreneurship; c) teaching and training methods and technologies
DRAMBLYS (Social Creativity Lab) - ALBACETE, SPAIN
DRAMBLYS is an international non-profit socio-cultural organization which aspires to serve as an interactive platform and meeting point to exchange, design, inspire and promote social innovation projects and creative alternatives