New EuroCrowd partnership aims to provide funding to local authorities

The European Crowdfunding Network (EuroCrowd) has announced a partnership with the European Association for Local Democracy (ALDA) to develop new funding solutions for public authorities and grassroots organisations across Europe.

ALDA is a global alliance which represents local and regional authorities and civil society actors. The partnership aims to make it easier for public authorities to access crowdfunding solutions.

Oliver Gajda, executive director of EuroCrowd, said: “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.”

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EuroCrowd noted that a growing number of public authorities and grassroots organisations have begun to view investment crowdfunding as an alternative source of capital or a complimentary vehicle to augment needed funding.

However, the pan-European crowdfunding body said that many local councils struggle to identify the right policy and administrative procedures to implement crowdfunding in their territories.

Under the terms of the new partnership, the two organisations will work together to create replicable solutions and explore new funding schemes in different areas, such as sustainable development, social innovation, financial literacy, and cultural and creative industries.

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