Expanding the Crowdfunding Market in South East Europe
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- Deirdre Greer
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1 Expanding the Crowdfunding Market in South East Europe
2 Ronald Kleverlaan Managing Director CrowdfundingHub Advisor European Commission Alternative European Expertise Centre for Alternative and Community Finance
3 Building an Alternative Finance Eco-System Alternative Finance in Europe Alternative Finance Maturity Index Activities for government Industry activities CrowdfundingHub: Building the Alternative Finance Eco-System
4 Market Volumes of Alternative Finance Transactions in the EU (2015) Source: Sustaining Momentum - The 2 nd European Alternative Finance Benchmarking Report Cambridge University
5 Growth of Alternative Finance in EU (excl UK) Source: Sustaining Momentum - The 2 nd European Alternative Finance Benchmarking Report Cambridge University
6 Online Alternative Finance Volume per Capita in Europe $100 $1-$10 $0,01-$1 Source: Sustaining Momentum - The 2 nd European Alternative Finance Benchmarking Report Cambridge University
7 Alternative Finance Maturity Index Trends, volumes, transparancy, access to finance and regulations
8 $100 $1-10 $0,01-$1 Source: Current State of Crowdfunding in Europe 2016 Alternative Finance Maturity Index (
9 Alternative Finance Maturity Country Index Mature industry Pre-mature Small platforms Unregulated market Expansion First platforms raising >5M a year not sustainable Several Alternative Finance models offered Use of current regulations Industry associations formed A lot of new platforms Competition Platforms sustainable (>50M) Specific crowdfunding / p2p licensing Integration in financial industry 1-10% of funding Consolidation Few platforms survive Seperate associations >10% of SME funding Integral part of financial industry 20-80% of market share Level 1 Level 2 Level 3 Level 4 Level 5
10 It takes two to tango
11 Government Investor protection vs Access to Finance Professionality of new industry players Cross-border issues with online investing Fraud Protection / Anti-money laundering DIY Crowdfunding (no platform)
12 Alternative Finance Maturity Index (policy / regulator) Open dialogue with industry Create clear regulations + public support Investor protection + transparency on defaults Consolidation Integrated completely in financial regulations Mature industry Competition Expansion Pre-mature Level 1 Level 2 Level 3 Level 4 Level 5
13 Promotion and Education Educational programs for Entrepreneurs, Investors and Advisors. Independent Research on industry data Transparancy on defaults, risks Certification program for platforms and advisors Co-financing by government and banks Tax incentives
14 Industry roundtables and independent advisors Pre-mature Alternative Finance Maturity Index (education) Collective promotion of success stories. Regular publications of growth in industry. Training advisors. Expansion Independent (academic) research, certification of advisors, training financial experts and governmental promotion Competition Consolidation Formalized certification of financial experts, included in curriculum Mature industry Level 1 Level 2 Level 3 Level 4 Level 5
15 UK, West Europe / East Europe What happended in 2008/2012/2016
16 Alternative Finance Maturity Country Index 2008 Mature industry Consolidation Competition Expansion Pre-mature Level 1 Level 2 Level 3 Level 4 Level 5
17 Alternative Finance Maturity Country Index 2012 Mature industry Consolidation Competition Expansion Pre-mature Level 1 Level 2 Level 3 Level 4 Level 5
18 Alternative Finance Maturity Country Index 2016 Mature industry Consolidation Competition Expansion Pre-mature Level 1 Level 2 Level 3 Level 4 Level 5
19 Next level
20 Building the Alternative Finance Eco-System Activities in Pre-Mature market (level 1) Government Start open dialogue with industry Launch Sandbox (simple regulations) Finance educational programs Industry Informal roundtables with industry Work together witj independent advisors Publish articles for education Organize local events as platform Uniform taxonomy
21 Building the Alternative Finance Eco-System Activities in Expansion market (level 2) Government Setup or fund educational programs for Entrepreneurs, Investors and advisors. Support industry association Promote Alternative Finance / Crowdfunding publicly Collect data and research the industry Seperate account client money Industry Work together with accountants and financial advisors Organize industry events (incubators/accelerators) Nation-wide CrowdfundingWeek Launch industry-wide association Training program/certification for advisors Share success stories
22 Building the Alternative Finance Eco-System Activities in Competition market (level 3) Government Create clear regulations for different alternative finance models and taxes. Consult industry association in access to finance discussions Tax incentives for investing via alternative finance in startups Industry Industry-wide transparancy on defaults, risks and acceptance criteria Organize industry events with traditional finance industry Code of conduct for platforms Training program/certification for financial advisors Share data with independent research institute for transparancy of industry
23 Together we can build a new sustainable financial eco-system
24 Ronald European Expertise Centre for Alternative and Community Finance
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