Crowdfunding Schemes in EuropeResearch on behalf of theResearch on behalf of the European Expert Network on Culture

Karsten WenzlaffBrussels, 21st of October 2011

EBAN Winter School 2011

Crowdsourcing is allocation ofCrowdsourcing is allocation of knowledge, skills and capital

1. 2. 3.

Crowdfunding involves an open call, essentially th h th I t t f th i i fthrough the Internet, for the provision of

financial resources either in form of donation or in h f f f d d/exchange for some form of reward and/or

voting rights.

Vocabulary

Rewards material and immaterial returns for investedRewards – material and immaterial returns for invested money

Threshold-principle – pre-defined investment goal which needs to be reached in order to receive paymentsneeds to be reached in order to receive payments

Donation-based crowdfunding

Pre-Selling

Crowd-Investing

Peer-to-peer Lending

European Crowdfunding and Peer to Peer Lending PlatformsPeer to Peer Lending PlatformsUK - http://www.fundingcircle.com - http://www.innovatrs.com - http://www.crowdfunder.co.uk - https://www.buzzbnk.org -

// // f // / // f /http://www.sponsume.com - http://wedidthis.org.uk - www.wefund.co.uk - http://bluedotworld.com/ - http://en.fansnextdoor.com/ -http://www.unbound.co.uk/ -

Ireland - http://www.seedups.com - http://www.venturesocially.com - http://www.fundit.ie -

Germany - http://couchtycoon.net/ - http://www.seedmatch.de - http://www.globumbus.com/ - http://www.cofundos.org -http://www.innovestment.de/ - https://www.sellaband.com/ - http://www.smava.de - http://www.startnext.de - and - www.startnext.at -p p p phttp://www.mysherpas.com - http://www.visionbakery.com - http://www.inkubato.com - http://www.pling.de - http://www.friendfund.com -htpp://www.games-plant.com - http://www.betterplace.org - http://www.einfachgeben.org/ -

Austria - http://www.respekt.net - http://www.querk.net -

Switzerland - http://www.c-crowd.com - http://www.cofundit.com - http://www.investiere.ch -

France: - http://www.wiseed.fr - http://www.financeutile.com/ - http://www.friendsclear.com/ - http://www.babyloan.org - http://www.ulule.com -http://www.kisskissbankbank.com - http://www.mutuzz.com/ -

Spain: - http://www.fandyu.com - http://www.lanzanos.com/ - http://www.verkami.com/ - http://www.partizipa.com - http://www.volanda.com/ -

Netherlands - http://www.crowdaboutnow.com/CrowdAboutNow/ - http://www.symbid.com - http://www.onepercentclub.com -http://www voordekunst nl/ - http://tenpages com/ - http://www schrijversmarkt nl/ - http://www bookabook nl/ - http://www cinecrowd nl/ -http://www.voordekunst.nl/ - http://tenpages.com/ - http://www.schrijversmarkt.nl/ - http://www.bookabook.nl/ - http://www.cinecrowd.nl/ -http://nieuwspost.nl/ - http://www.crowdfundingfacilities.nl/ - http://www.cinemareloaded.com/en/ -

Belgium - http://www.believersfund.com - http://www.westartup.eu/ - http://www.sonicangel.com - http://launch.sprowd.com/ -http://www.sandawe.com -

Finland - http://venturebonsai.info - http://www.growvc.com -

Sweden: - http://tunerights.com/ - http://www.crowdculture.se/ - http://www.fundedbyme.com/ -

Bulgaria - http://planetpreneur.org/grow/3challenge/ -

Denmark - http://www.booomerang.dk/ - http://www.vidensbanken.com/pages_translated.asp?HPID=131 I

Italy - http://www.eppela.com/ -y p pp

Czech - Republic - http://www.fondomat.cz/ -

Regulative framework

1 Crowdfunding regulation and financial payment providersg g p y p2 Crowdfunding regulation and copyright schemes

2.1 Copyright and immaterial goods2.2 Author reputation, usage of copyrighted material2.2 Author reputation, usage of copyrighted material2.3 Creating immaterial goods for the public domain2.4 Patents

3 Crowdfunding regulation and taxation3 Crowdfunding regulation and taxation3.1 Value added tax3.2 Income Tax and Social Security3 3 Capital gains taxes3.3 Capital gains taxes

4 Crowdfunding regulation and investors protection4.1 Cross-border access to business crowdfunding4 2 Domestic access to business crowdfunding4.2 Domestic access to business crowdfunding4.3 Crowdfunding platforms and investment consulting4.4 Crowdfunding and domestic registration

5 Crowdfunding and Credit Regulation5 Crowdfunding and Credit Regulation6 Crowdfunding and data protection

Results

Growth

Th df di k t iThe crowdfunding market is growing very fastgrowing very fast.

Europe vs. US

C df di ith it iCrowdfunding with equity is easier than in other marketseasier than in other markets, crowdfunding based oncrowdfunding based on donation is more difficult.donation is more difficult.

Obstacles

Th l i l ti f k tThe legislative framework not an obstacle to cross borderan obstacle to cross-border crowdfunding but culturalcrowdfunding, but cultural and linguistic borders.and linguistic borders.

Strategy

Th bi t l fThe biggest value of Crowdfunding does not lie inCrowdfunding does not lie in receiving the moneyreceiving the money.

Competition

C df di b idCrowdfunding bridges a gapbetween FFF Funding andbetween FFF-Funding andearly-stage investmentsearly-stage investments.

Dynamics

C df di ill hCrowdfunding will changeexpectations of investors toexpectations of investors toearly stage investmentearly stage investmentnetworks.networks.

Questions and commentsQuestions and comments

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