Collaborative Momentum in European Crowdfunding Ecosystems
Brussels, 26 January 2023, a gathering of national associations representing crowdfunding, but also alternative finance and fintech, across Europe, such as France, Germany, the Netherlands, Slovakia, the Czeck Republic, Hungary, and Norway convened to explore collaborative actions with EUROCROWD. The meeting covered diverse landscapes of national crowdfunding ecosystems, acknowledging varying structures, missions, and resource challenges.
The goal was to discuss a nuanced exploration of collaborative opportunities. The discussions yielded profound insights into the intricate landscapes of national crowdfunding ecosystems, where associations handle distinctive business models, diverse member bases, and resource constraints. A prevalent challenge that echoed across these varied landscapes was the shared struggle with limited resources and the pursuit of long-term financial stability.
Within an intense exchange of ideas, a set of unified expectations emerged around knowledge exchange, alignment on common demands, collaborative representation at the EU level, and the exploration of deeper collaboration on economic aspects. The spectrum of potential solutions covered a wide range of opportunities and would also be open to other associations. Options discussed looked at the implementation of joined actions to the exploration of shared membership models. A more radical proposition included the possibility of associations merging into a larger entity with a broader focus.
The participants parted with clear homework to capture feedback from market actors and to create a subsequent action plan that delineates a methodical approach to navigate the key challenges around the diverse needs and challenges of the associations, the financial implications, and the limitations within existing settings.
The sector has reached relevant maturity to engage in an aligned, representative policy and best practice work supported by national associations across Europe. Oliver Gajda, Executive Director, comments: “After more than a decade building the crowdfunding sector in Europe and shaping its regulatory landscape, EUROCROWD is ready to support national associations in implementing this next step in making crowdfunding a valued part of the Financial Markets within all Member States. We are happy to have already signed our first joint agreement with a leading national network and will announce this shortly.”
EUROCROWD believes that only a comprehensive approach, born out of collaborative discussions, will be able to pave the way for a positive, sustainable, and collaborative future for European crowdfunding ecosystems. Next steps will include discussions with our membership base to further identify the best options. Once the discussions will reach a more mature level, we will test the viability of the chosen solution before committing to full-scale implementation. For now, EUROCROWD will operate quarterly calls and meetups with its confirmed partner associations, starting in February 2024, and continue to work for a professional crowdfunding ecosystem with its own members and partners, as we have done successfully for the past 10 years.