Eurocrowd launches strategic group in Spain
Eurocrowd is launching a strategic group in Spain, following the success of its Italian group, to deepen understanding of crowdfunding at a national level.
The European trade body for crowdfunding warned of a “knowledge vacuum” due to the lack of professional knowledge exchange across the EU and said it is supporting local markets across the region.
It launched its Italian strategic group as a pilot initiative in 2018. It has now hosted three annual conferences, local meet-ups, a training programme and provided an active voice in the implementation of the new EU crowdfunding rules within Italy.
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The second national strategic group is already being set up in Spain, with a full roll-out expected in the first half of 2023, Eurocrowd said.
Meanwhile in other underserved member states, work has also started to establish a professional body for crowdfunding.
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“The lack of independent and professional cooperation in national markets has led to widespread misunderstanding in regulatory implications of the European Crowdfunding Service Provider Regulation and has led in many countries, leading to delays in the adaptation in the market and an increased risk of market consolidation,” said Eurocrowd’s executive director Oliver Gajda.
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“We expect serious implications for some market operators and a significant shrinking of the market as a result in the short term.”
Separately, Eurocrowd announced that it has partnered with the Network of European Digital Innovation Hubs (EDIH), to provide information to the latter’s community.
EDIH is a pan-European initiative that aims to accelerate digital transformation throughout the region. Its network is focused on building capacity and leveraging new technologies in key sectors in every EU member state.
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“Within the wider framework of EDIH’s Digital Transformation Accelerator, Eurocrowd has committed to promote crowdfunding to the benefit of any potentially interest party,” Eurocrowd said in a blog post on its website.
“The delivery of the first online introductory session has been performed on 17 April, providing participants with an overview of key information on crowdfunding, its characteristics, operating mechanisms and the current and future regulatory framework that will be applicable at EU level. Furthermore, the training focused on highlighting differences between crowdfunding platforms and their business models and operational structures.”
Additional sessions are already planned for the next three years, with a second online training session scheduled for 9 May 2023.