Brussels, 9 February 2022 – The European Crowdfunding Network (EUROCROWD) and the European Association for Local Democracy (ALDA) have formalised a cross-membership agreement to further develop activities of common interest and provide benefits to their networks. The agreement builds on ALDA’s interest in working with the crowdfunding industry and on EUROCROWD’s work on supporting public authorities.

Over the past years, a growing number of public authorities and grassroot organisations has thought of approaching crowdfunding as an alternative or complementary source of funding to add to their available options. This is even more true for local public authorities, for whom crowdfunding represents not only a mechanism to raise additional private funds for their projects, but also a way to increase their accountability and transparency towards citizens. At the same time, many of these public authorities still struggle to identify the right policy and administrative procedures to implement crowdfunding in their territories.

The partnership aims at delivering further support by designing and implementing joint activities of mutual benefit to both the crowdfunding industry and local authorities. Leveraging on existing best practices and common lines of action, the two organisations will work on providing replicable solutions and supporting material, as well as on exploring new innovative schemes in different areas, such as sustainable development, social innovation, financial literacy and cultural and creative industries.

“We are delighted enter into a formal partnership with ALDA, working toward positive and long-term benefits for both the crowdfunding industry and local authorities, while leveraging on both our organisations expertise in blended finance, active citizenship and cooperation between local authorities and civil society in Europe”, said Oliver Gajda, executive director of EUROCROWD.

ALDA – the European Association for Local Democracy – is a global alliance of local and regional authorities and civil society actors working together with a participative approach for resilient, inclusive and sustainable communities.

EUROCROWD is acting for an efficient, balanced & transparent crowdfunding eco-system in Europe. For more information on how crowdfunding platforms can benefit from our cooperation, please reach out to us via info@eurocrowd.org