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388 votes

Policy Action proposals to facilitate the use of Crowdfunding for Culture

Status: Open

Visibility: Public  

Author: crowdfunding4culture

Ending date: 31.03.2017

Crowdfunding has been growing substantially and billions of euros have been raised through the crowd. Yet, the cultural and creative sectors (CCS) are not very familiar with this new funding tool. In order to better understand and evaluate the potential of crowdfunding for creatives and cultural organisations, the European Commission launched Crowdfunding4Culture

What actions should public authorities take in order to raise awareness, create trust, train and link creative communities in using crowdfunding?

Following an expert workshop 23 potential actions have been identified by the crowdfunding4culture team in 5 different areas:

These actions, targeting crowdfunding platforms and cultural organisations as well as local, regional and EU policy makers, aim to improve the understanding and uptake of crowdfunding for cultural projects. 

Join the Discussion & Shape European policy on Crowdfunding for Culture

We invite cultural organisations, crowdfunding platforms and backers to have a say in the future of crowdfunding for cultural and creative sectors in Europe:

  • Vote for or against each proposed action
  • Improve the actions by adding suggestions in the comments
  • Propose new actions in the comments
  • Sharing means caring. Invite peers to join the public discussion

Sign up now (discussion closes at 31.03.2017) and help shape the future use of Crowdfunding!

Awareness Raising

 
001

Organisations that support creatives and cultural entrepreneurs should update their current guidance & toolkits and events to incorporate the topic of crowdfunding, its multifaceted benefits (community building, audience development etc…) and risks.

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18 Votes
 
002

In promoting access to finance for the CCS, local, regional and European policy makers should integrate information on crowdfunding (models, VAT, tax, platform costs etc...), its potential and risks.

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15 Votes
 
003

The EC should facilitate the exchange of practices and lessons learned on policy initiatives on crowdfunding and matchfunding between local and regional policy makers (e.g. through the Open Method of Coordination mechanism).

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15 Votes
 
004

The EC should further develop the Crowdfunding4Culture.eu website as a tool to raise awareness on the potential of crowdfunding in CCS, by sharing examples (both successful and unsuccessful) on 1) the use of crowdfunding and its different models for all CCS, and 2) setting up partnerships to support crowdfunding for CCS.

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19 Votes
 
005

The EC should support the launch of an EU wide CCS crowdfunding prize competition to stimulate and showcase innovative and impactful uses of crowdfunding in the CCS.

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17 Votes
 
006

The EC should facilitate a European conference on crowdfunding 4 culture on a yearly basis, creating a platform of exchange between cultural organisations, platforms, investors, philanthropy organisations like European Cultural foundation, and policy makers.

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19 Votes

Trust creation

 
007

The EC should stimulate the process of setting up a European quality label for crowdfunding platforms to be initiated by the CCS crowdfunding community.

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17 Votes
 
008

In order to bring transparency and good code of conduct to the industry, the EC should facilitate the creation of an independent observatory that collects and publishes data on the use of crowdfunding (no. of campaigns, amounts raised per model, costs, success rate per platform etc…)

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16 Votes
 
009

The industry should stimulate clear communication by the CF platforms on costs charged to project holders, transparency over the process of due diligence, risks attached to donating or investing through crowdfunding, ownership and partnership structure etc…

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16 Votes
 
010

Member states should develop a regulatory framework that stimulates the use of (different types of) crowdfunding such as f. ex. a favourable tax scheme for crowdlending, tax deduction for crowd-donations, etc…

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16 Votes
 
011

Member States and the EC should provide clear VAT and Tax guidelines for crowdfunding campaigns in the sector.

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18 Votes

Skills

 
012

Government/regional and EC should support incubator type of places where people come together and develop skills on how to get started with crowdfunding.

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15 Votes
 
013

Member States should integrate financial literacy at an early stage in curricula during formal education.

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16 Votes
 
014

The EC should support the development of an access 2 finance tool (similar to the one aimed at start-ups) that provides an integrated overview for the CCS actors on the various sources of finance and the potential financial mix, including crowdfunding.

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16 Votes
 
015

Similar to the Capacity Building programme of the CCS Guarantee Facility, public authorities should facilitate the development of training programmes for financiers and crowdfunding platforms on the specifics of crowdfunding cultural and creative activities.

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15 Votes
 
016

The EC should further develop the Crowdfunding4Culture.eu website as a tool for skills developement, through 1) the regular update of the resource repository page and 2) the development of a “How to run a crowdfunding campaign” toolkit tailored to the different creative sectors and crowdfunding models.

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16 Votes

Matchfunding

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