1. Eco-Crowdfunding in RECOMMEND partner regions Presentations by Lead Partner, Slovenia, Czech Republic & Italy 24 th October 2013 24th October 2013

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

3. What is crowd funding? How does it work? 3 Definition: The collective effort of individuals to pool money in order to support efforts from other people or organisations. 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 24th October 2013

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 424th October 2013

5. Eco-Crowdfunding in Austria 5 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.atwww.buergersolarkraftwerk.at 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.htmlhttp://www.gea.at/home.html 24th October 2013 Two examples

6. Eco-Crowdfunding in Austria - Conclusion 6 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 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 24th October 2013 Two examples

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

8. Crowdfunding in CZ 8 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 24th October 2013

9. Pre-conditions for CF in general 9 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! 24th October 2013

10. Eco-Crowdfunding and the public sector in Slovenia Uroš Majerič uros@lea-ptuj.si 24 th 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. 17.05.201511

12. What public sector can do for Crowdfunding? -develop or co invest in Crowdfunding platforms -include public tendering in Crowdfunding platforms (Startup Slovenia) 1224th October 2013

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 1324th October 2013

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 1424th October 2013

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

16. Crowdfunding in CZ 16 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 24th October 2013

17. Pre-conditions for CF in general 17 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! 24th October 2013

18. Equity-Crowdfunding in Italy Claudio Carlone RECOMMEND PROJECT PARTNER External consultant Eurocentro s.r.l. c.carlone@eurocentro.it 24 th 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) 1924th October 2013

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! 2024th October 2013

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). 2124th October 2013

22. Equity-Crowdfunding Pro&Con 22 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). 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. 24th October 2013

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!www.produzionidalbasso.com –Kapipal (www.kapipal.com) general crowdfunding online portal, particularly dedicated to personal projects funding.www.kapipal.com –Siamosoci (www.siamosoci.com) specific equity-crowdfunding online portal, a sort of start-up browser for investors.www.siamosoci.com –Ulele (http://it.ulule.com) crowdfunding online portal dedicated to creative and innovative projects funding.http://it.ulule.com 2324th October 2013

24. Italian Crow-funding Network 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 2424th October 2013

25. THANK YOU FOR YOU ATTENTION 2524th October 2013