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© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
Crowdfunding: Engagement
for Return on Investment
Session 28: Making it Happen:
Financing City and Energy Innovation
Reinhard Willfort | Vienna | 2015-11-05
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
Agenda
The power of the Crowd
Crowdfunding Models
From Crowdfunding to Crowdbusiness
Crowdbusiness examples and experiences
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
isn – innovation service network
Crowdsourcing
(2007)
Crowdfunding
(2012)
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
European Crowdfunding Network Board of Directors
Alex Raguet, Lumo, France (Chairman)
Reinhard Willfort, 1000x1000, Austria
(Secretary of the Board)
Philippe Dardier, Alternativa, France (Treasurer)
Bart Becks, Angel.me, Belgium (Vice-Chairman)
Tero Weckroth, Invesdor, Finland
Coenraad De Vries, OnePlanetCrowd,
The Netherlands
Paul Massey, Crowdcube, UK
Yoann Nesme, PPL, Portugal
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
We need a culture for innovation!
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
9
work hard duty
success myself
diligence conformity money
Industrial
career logic
Quelle: Zukunftsinstitut
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
10
money
myself
success joy
self-realization
freedom
Quelle: Zukunftsinstitut
Career logic in a
„knowledge economy“
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
Crowdsourcing
Crowd Creativity
Crowdfunding
Crowdinvesting
„The Rise of Crowdsourcing“
Jeff Howe 2006 [wired]
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
Crowdsourcing Platform-Technology
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
Open Innovation Example:
Lego – https://ideas.lego.com
Community-Product: „Imperial Star Destroyer“
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
CUSTOMER
CREATIVE FAN
CO-WORKER
CO-THINKER
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
Principle of Crowdfunding
Not only 1 Investor gives € 1.000.000
Rather 1.000 Investors give each € 1.000
www.1000x1000.at
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
Crowdfunding (CF) Models
Donation based Geld für eine gute Tat
Reward based Geld für Anerkennung
------------------------------------------------------------------------
Lending based Geld für Zinsen
(Nachrangdarlehen)
Equity based Geld für Beteilung
(Genussrecht)
www.crowdfundingframework.eu
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
But Crowdfunding is more
than collecting money!
+ Pre-Check of ideas
+ Pre-Sales of products & services
+ Fast feedback loops > lower risk of innovation
+ Increasing customer loyalty
+ Word of mouth / recommendations
+ Marketing and sales support
Using swarm intelligence
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
Crowdfunding does not replace but
complements existing financing
Crowdfunding
Angel Investment Venture Fonds
Subsidies, grants, collaterals
Bank financing
12M Zeit 24M 36M
0 € > 3 Mio. €
0M 48M
250k € 750k €
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
Typical sequence of a Crowdfunding project
1. Setup
2. Campaining
3. Serve
• 4 to 8 weeks
• 1 to 3 months • run time
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
Crowdbusiness Project
Innovation: „Home solar power
plant“
Crowdfunding Platform
www.1000x1000.at
1.000 pre-sales à € 567,-
in between 7 weeks
Final: 654.223 € and
985 Investors / Customers
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
„the crowdbusiness machine“
Motivation
„Emotion“
Solution
„Innovation“
Business-
model
Communication plan – goal of campaign – runtime
Community Funding-
targets
Team setting - available resources
Crowdfunding platform
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
Incubators of Public Spaces
DI Dr. Reinhard Willfort
Implement a software platform enhancing the planning and designing of a city area as co-creative emergent process
Crowdsourced and Self-Organising Placemaking
Crowdfunding
Governmentality Living Lab: co-creation of policies and local-governance
Develop a new methodological approach to support the self-organisation of places
Test Incubators’ methodology and technology in real-world experiences
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
Overview
Duration: October 2014 – September 2017, Budget: 1 Mio EUR
Consortium
Partner
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
The future: „Crowdbusiness“
1
Innovation Services
2 3
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
Quelle: Moving Mainstream - The European
Alternative Finance Benchmarking Report,
University of Cambridge, 2015
© isn – innovation service network GmbH Reinhard.Willfort@innovation.at
Crowdfunding growth rate in
Billion $
Source: www.croudsourcing.org; 2015 CF –
Crowdfunding Industry Report
2.7
6.1
16.2
35.5
0
10
20
30
40
2012 2013 2014 2015e
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