Pilot Project: Kick-Starting Cultural Economy
Belgium, 28 August 2015
The aim of the Pilot Project is to identify, analyse and publicise the best practice in Europe's crowdfunding market in relation to the cultural and creative sectors (CCS), including inter alia architecture, archives, libraries and museums, artistic crafts, audiovisual (including film, television, video games and multimedia), tangible and intangible cultural heritage, design, festivals, music, literature, performing arts, publishing, radio and visual arts.
The project is expected to provide an overview of the different crowdfunding models currently operating in Europe which can be used to finance projects in the field of the cultural and creative sectors.
The purpose of the study on crowdfunding for the CCS - which is the main element of the pilot project - is to collect and analyse data in order to support the European Commission in the implementation of its political objectives regarding access to alternative sources of finance for SMEs and to provide case studies of good practice.
In order to achieve the objectives, the Contractor should perform the following tasks. In relation to Deliverable 1 (main study):
PART I: Mapping of crowdfunding benefiting the CCS. Carry out a mapping exercise on cultural crowdfunding in Europe, including presentation of data on: number and types of cultural projects funded, average project/campaign size, average contribution size (organised by type of crowdfunding, including donation, reward based, lending and equity), average success rate for CCS projects in comparison to other projects seeking crowdfunding, types and number of platforms where cultural projects are launched, and geographical coverage and cross-border campaigns. The mapping exercise should also include an analysis of the project owners and the investor/donor profile (e.g. gender, age, nationality), and the default rates for company/entrepreneurs financed via crowdfunding, analysed by sector. Mapping could be implemented by means of desk research and survey of European crowdfunding platforms as well as associations of financial institutions, in order to collect information about crowdfunding activities in the different sub-sectors of the CCS.
PART II: Market analysis of crowdfunding benefiting the CCS. Provide information not only on the crowdfunded cultural projects (the volume, size and type, amount of money invested etc.), but also on the investors/donors regarding their motivation (or reluctance) to pledge, and the creators themselves. An in depth quantitative and qualitative analysis of the collected data it is expected to showcase the mechanisms of crowdfunding for cultural and creative activities and examine whether it differs from crowdfunding in other sectors.
PART III: Recommendations to the Commission and to the Member States. Develop recommendations towards a plan of action at European level, covering such issues as the regulatory framework (including intellectual property rights and taxation), political considerations, governance aspects, transparency issues, conduct of business rules and links to EU funding programmes. Recommendations should take into consideration the need for awareness raising, protection of users/investors and creators, facilitation of cross-border activities through transparency as well as the requirements of a unified regulatory framework in order to enhance the benefits of crowdfunding.
Submission Deadline: 7 September 2015
Also view the ECN Procurement Notice (accessible by ECN Executive Members - Login to View)