How to Boost Access to Crowdfunding for Innovative Businesses

Project information

Index: 1174R4
Priority:1: Innovation and the knowledge economy
Sub Theme:Entrepreneurship and SMEs
Location ESPAÑA NOROESTE Principado de Asturias Start/End date of the practice
Start: November 2013

Topic of the practice

Support to SMEs

Good Practice Information

Set up to meet new entrepreneur’s needs, CEEI Asturias developed a methodology and a role as validator for business projects interested in applying for Crowdfunding. Aware of the difficulties experienced in raising finance and a limited understanding of more recent financial instruments, the programme was set up to raise awareness amongst the regions businesses and advisory community.
Aimed at facilitating access to financial resources for business projects in Asturias the purpose of the service is to:
− Raise awareness of Crowdfunding as financial option
− Improve the financial planning and business modelling capabilities of entrepreneurs
− Provide the support needed for businesses to identify and select the best crowdfunding source from the wide range of platforms available

Evidence of success

Piloted in November 2013, CEEI Asturias are waiting for the final results needed to‘re-focus’ the action. Results known to date are:
Applications accepted/number of businesses pitching their projects and face to face meetings with Crowdfunding platforms: 25
SMEs/entrepreneurs and stakeholders attending the pilot event: 120
2 DIFASS partners spontanously decided to transfer this GP to their region.

Contact details to obtain further information on the practice

Cristina Fanjul Alonso

CEEI Asturias;

Annex completed on: 09-16-2014

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