Annex 1: Crowdfunding as financing model for ICH

In the last 5 years crowdfunding has established itself as a serious new form of alternative finance, i.e. financial phenomena that have emerged outside of the traditional finance system. This has been highlighted recently (March 2018) by the European Commission’s Fintech action plan1, presented a proposal for a regulation on crowdfunding service providers. The new rules may have positive impact on financing ICH, as they will improve Europe-wide access to this innovative form of finance for small investors and businesses in need of funding, particularly start-ups. Investors on crowdfunding platforms will benefit from a better protection regime and a higher level of guarantees, based on clear rules on information disclosures for project owners and crowdfunding platforms.

• Created at: 26/02/2019
• Kind: Document
• Language:
• Tags: Crowdfunding D.t1.4.2 Wp T1 A.t1.4
• Need: Project Material
• Area: ICH - Intangible Cultural Heritage