Eco- Crowdfunding in RECOMMEND partner regions

1. Eco-Crowdfundingin RECOMMEND partnerregions Presentations by Lead Partner, Slovenia, Czech Republic & Italy 24th October 2013

2. Eco-Crowdfundingand the public sector in Austria Benjamin Kuscher RECOMMEND External consultant ConPlusUltra Ltd. Benjamin.kuscher@conplusultra.com 24th October 2013

3. What is crowd funding?How does it work? • 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 Definition: The collective effort of individuals to pool money in order to support efforts from other people or organisations.

4. 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

5. Eco-Crowdfunding in Austria Two examples • 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 • 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

6. Eco-Crowdfunding in Austria - Conclusion Two examples • 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 • 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

7. (eco) crowdfunding in the Czech Republic Jan Jareš Ekoport, Czech Republic 24th October 2013

8. Crowdfunding in CZ • 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

9. Pre-conditions for CF in general • 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!

10. Eco-Crowdfundingand the public sector in Slovenia Uroš Majerič uros@lea-ptuj.si 24th October 2013

11. What is crowd funding? • The use of small amounts of capital from a large number of individuals to finance a new business venture.

12. What public sector can do for Crowdfunding? • develop or co invest in Crowdfunding platforms • include public tendering in Crowdfunding platforms (Startup Slovenia)

13. 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

14. Initiative Slovenia Crowdfunding Helped to develop 7 campaigns • Red Pitaya measuring instrument • Xvida Boomerang • Lumu • ONDU Camera • Musguard • LLStol – LL Chair • Beer Brewery Pelicon

15. (eco) crowdfunding in the Czech Republic Jan Jareš Ekoport, Czech Republic 24th October 2013

16. Crowdfunding in CZ • 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

17. Pre-conditions for CF in general • 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!

18. Equity-Crowdfundingin Italy Claudio Carlone RECOMMEND PROJECT PARTNER External consultant Eurocentro s.r.l. c.carlone@eurocentro.it 24th October 2013

19. 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)

20. 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!

21. 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).

22. Equity-Crowdfunding Pro&Con • 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. • 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).

23. 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.

24. 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

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