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Eco-Crowdfunding in RECOMMEND partner regions
Presentations by
Lead Partner, Slovenia, Czech Republic & Italy24th October 2013
24th October 2013
Eco-Crowdfunding and the
public sector in Austria
Benjamin KuscherRECOMMEND External consultant
ConPlusUltra Ltd.Benjamin.kuscher@conplusultra.com
24th October 2013
24th October 2013
What is crowd funding?How does it work?
3
Definition:
The collective effort of individuals to pool money in order to support efforts from other people or organisations.
It works when:
•Someone has an idea but insufficient capital•They put this idea on a crowd funding website, with a video and description.•The creators state the amount they seek•‘Fans’ pledge money towards the cause
24th October 2013
What public sector can do for Crowdfunding?
• Question : What does crowdfunding has to do with the public sector?
• Crowdfunding is currently mainly a private initiative
• Change the law!• Promote the idea of crowdfunding• Promote already legal forms of crowdfunding• Co invest with crowdfunding platforms
424th October 2013
Eco-Crowdfunding in Austria
5
LEGAL: Sale-and-Lease-Back-Contract
-The client buys a solar panel from the energy provider.
-The energy provider leases the panel back and pays a yearly rent to the client.
-The client is therefore the official owner of the panel.
-www.buergersolarkraftwerk.at
ILLEGAL: Company-Saving-Club
-A company offers interest if a private person directly gives a credit.
-Those credits can be very small. (€ 200). GEA collected more than € 3,000,000.-
-The financial market supervision sees that as hidden bank business without banking licence-http://www.gea.at/home.html
24th October 2013
Two examples
Eco-Crowdfunding in Austria - Conclusion
6
LEGAL: Sale-and-Lease-Back-Contract
-This model is very useful for already established energy providers to finance additional green plants
-Only already existing technologies will be financed via this model
-Good for the environment but no innovation
ILLEGAL: Company-Saving-Club
-High risk for the client.-High revenue for the client.-Very good to finance new innovative ideas.-The banking sector is extremely risk avers and therefore this is an alternative model.-The national and European policy need to define new regulations
24th October 2013
Two examples
(eco) crowdfunding in the Czech Republic
Jan JarešEkoport, Czech Republic
24th October 2013
24th October 2013
Crowdfunding in CZ
8
• booming and fast developing topic right now• though only few sectors affected (by importance)
charity (e.g. Charity Water, Internet pomáhá) culture / art (e.g. Kickstarter, IndieGoGo, HitHit) business / investments (e.g. Profounder,
Sprowd, Open Startups)• within charity sector it is sometimes being replaced by
“micro-financing” or “social business” tools• no specific tools for “eco” business
24th October 2013
Pre-conditions for CF in general
9
• limitations within Czech legal systems• minimal investment in the shareholds of the company
(ltd.) is 20.000 CZK (= 800 eur) • not only byrocracy is unbearable with e.g. 1000
shareholders / investors
• inspiration by US law “Access to Capital Act” needed in EU / CZ!
24th October 2013
Eco-Crowdfunding and the
public sector in Slovenia
Uroš Majeričuros@lea-ptuj.si
24th October 2013
24th October 2013
What is crowd funding?
• The use of small amounts of capital from a large number of individuals to finance a new business venture.
18.04.23 11
What public sector can do for Crowdfunding?
- develop or co invest in Crowdfunding platforms- include public tendering in Crowdfunding
platforms (Startup Slovenia)
1224th October 2013
Crowdfundig in Slovenia
• Initiative Slovenia Crowdfunding – helps businesses to start a Crowdfunding campains
• Development agency of Maribor – helps to develop a functioning company from an idea
1324th October 2013
Initiative Slovenia Crowdfunding
Helped to develop 7 campaigns• Red Pitaya measuring instrument • Xvida Boomerang• Lumu • ONDU Camera• Musguard• LLStol – LL Chair• Beer Brewery Pelicon
1424th October 2013
(eco) crowdfunding in the Czech Republic
Jan JarešEkoport, Czech Republic
24th October 2013
24th October 2013
Crowdfunding in CZ
16
• booming and fast developing topic right now• though only few sectors affected (by importance)
charity (e.g. Charity Water, Internet pomáhá) culture / art (e.g. Kickstarter, IndieGoGo, HitHit) business / investments (e.g. Profounder,
Sprowd, Open Startups)• within charity sector it is sometimes being replaced by
“micro-financing” or “social business” tools• no specific tools for “eco” business
24th October 2013
Pre-conditions for CF in general
17
• limitations within Czech legal systems• minimal investment in the shareholds of the company
(ltd.) is 20.000 CZK (= 800 eur) • not only byrocracy is unbearable with e.g. 1000
shareholders / investors
• inspiration by US law “Access to Capital Act” needed in EU / CZ!
24th October 2013
Equity-Crowdfunding in Italy
Claudio CarloneRECOMMEND PROJECT PARTNER External consultant
Eurocentro s.r.l.c.carlone@eurocentro.it
24th October 2013
24th October 2013
What is the Equity-Crowdfunding
• People who are going to invest money in a start-up will receive its company stocks.
Other types of crowdfunding:• Reward based crowdfunding (money for a
reward)• Donation based crowdfunding (money for
nothing)• Social lending (it is a real term loan granted
from different people)
1924th October 2013
The new Italian legislation on Equity-
crowdfunding• The “Growth Decree 2.0” approved on October
2012 stated that all people can invest money in a start-up trough crowdfunding online portals.
• Before of the Decree only professional investors could invest money in start-ups by receiving stocks!
2024th October 2013
PLEASE NOTE
• The Decree is applied only to the constitution of start-ups in the form of L.t.d. companies.
• The equity-crowfunding can be promoted only by specific online portals inserted in the “Consob Register” (the Italian Commission for the Regulation of Stock Exchanges).
2124th October 2013
Equity-Crowdfunding Pro&Con
22
PRO:
-Very specific National Law;-Fostering of the innovative economic development;-Focus on SMEs;-If the innovative idea is good you can receive more money than you expected;-Investors have many reasons to invest in the idea (not only economic interests).
CON:
-Benefits limited to very specific companies (e.g. innovative start-ups and L.t.d. company);
-Vey good communication and marketing skills are required to promote the idea among people and to receive funds.
24th October 2013
Some examples of Equity-Crowdfunding in Eco-
Innovation• Actually there isn’t a specific online portal dedicated only to
the eco-innovative equity-crowdfunding.
BUT
• Please, consult some crowdfunding online-portals active in Italy:– Produzionidalbasso (www.produzionidalbasso.com) the first
Italian crowdfunding online portal!– Kapipal (www.kapipal.com) general crowdfunding online portal,
particularly dedicated to personal projects funding.– Siamosoci (www.siamosoci.com) specific equity-crowdfunding
online portal, a sort of start-up browser for investors.– Ulele (http://it.ulule.com) crowdfunding online portal dedicated to
creative and innovative projects funding.
2324th October 2013
Italian Crow-fundingNetwork
• It is an independent Italian association with the aim to:– Map the crowdfunding offer in the Italian market;– Support the crowdfunding regulation process by the
national law;– Represent crowdfunding on-line platforms interests;– Improve cooperation between organisations and
institutions.
http://www.italiancrowdfunding.org/home
2424th October 2013
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