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Scottish Crowdfunding Ending 2013 on a Positive Note

The closing months of 2013 seemed to demonstrate something of an up tick in the levels of interest in crowdfunding in Scotland.

East Fife football club launched a campaign for £100,000 to develop a new stand and other facilities at the club.

A second equity platform, ShareIn, launched in Scotland. Brewdog have pursued a further funding round in their own inimitable style closing in on a £4.25 million investment through their Equity for Punks scheme.

The  MacAulay & Co show show on BBC Radio Scotland  invited me on to speak about the phenomenon of crowdfunding – and you can hear that here if you missed it.

The first successful Scottish equity crowdfunding round on Crowdcube  completed as NewGalexy hit and exceeded their target – having sought some £100,000 for 10% of equity and reaching £200,000 for 20%

The Scottish Parliament took a real interest in crowdfunding as part of an investigation by the Economy, Tourism and Energy Committee began and investigation of the alternative funding sector. We were privileged to be asked to give evidence to the committee and if you missed that session you can see it here.

It is particularly pleasing to see the political classes recognising the potential of the democratising of capital to bring about positive change, entrepreneurial dynamism, and direct engagement of the people with shaping their financial future

And all that is a year when the first Scottish hybrid equity platform Squareknot launched and we released the ground breaking Crowdfunding the Scottish Perspective report – commissioned by the Glasgow Chamber of Commerce. Whilst the report demonstrated that Scotland was under using the resource and opportunity of crowdfunding perhaps this flurry of events late in the year might indicate some positive developments to address that.
What does it promise for 2014? Well we hope only good things. But one thing for certain is that whatever does happen you will find the best commentary, coverage and insight on crowdfunding and the crowd empowered economy and society here at twintangibles.

A Survey about the Future of Crowdfunding in Europe

A Survey about the Future of Crowdfunding in Europe

In the next few weeks, we will be speaking at a number of conferences in Europe. Amongst them, on April 17th, The Future of Crowdfunding in Berlin, organised by Ikosom and Crowdsourcing Week. The event will focus on crowdfunding for culture, innovation and public infrastructure, and will see a number of crowdfunding experts joining from many parts of Europe – incl. the Netherlands, Poland, Denmark, France, Belgium, UK and Italy.
We will contribute by presenting the regulation on equity-crowdfunding recently published by the Italian Financial Authority CONSOB.
The results of the conference will be published alongside the most recent market data on European crowdfunding. Together with Ikosom, Douw&Koren and Crowdsourcing Week, we are working on the publication “Vision on Crowdfunding in Europe” that will give an overview of Crowdfunding platforms in Europe, including their business models, legal structures and success stories. The publication is also meant to provide researchers, politicians, bankers, investors and government officials with an overview of the impact of Crowdfunding in Europe, now and in the future.
In order to get market data, we are asking all European Crowdfunding Platforms to participate in this survey. If platforms wish to present themselves in more depth in the final publication, they can contribute to the crowdfunding campaign that we started in order to make this publication possible.

Glasgow is going social again

Glasgow is going social again

As you may have heard, Social Media Week is coming back to Glasgow 24th – 28th September. Looks like Glasgow did a nice job last year, give yourselves a round of applause. And we at twintangibles are happy to be part of it again this year for another week of creativity, collaboration, innovation, connectivity and sharing with a global audience.

Last year many of you didn’t know us and what we it is that we do. ‘Event organisers’ was probably the most popular guess. By now we hope you have a clearer idea, not only of what twintangibles is, but especially of the connection we have with this global event.

But in case you don’t know here is a quick review. We first got involved with Social Media Week because we liked its vision and objectives – a worldwide event to explore the social, cultural and economic impact of social media. At twintangibles we have always focused our work on assisting organisations to understand, identify and create value from the opportunities presented by Social Media and the mindset that underpins it.

For us it’s always been important to help people understand how social technologies have revolutionised the way we interact with the world and how we relate to it, both individually and collectively. We need to constantly remind both ourselves and others that new generations will have never known the world without the “social“ and their attitudes and mental processes are shaped by and through these new technologies. This presents us with challenges and tremendous opportunity to re-think our approaches to almost every aspect of our daily lives. Understanding the diversity of application of these technologies is crucial. Day after day we encounter interesting initiatives in all sectors, students doing the most innovative research, and we hear of innovative projects we could have never thought of, empowered by the use of social technologies. Everything is connected by one only common denominator: social media influence and empowerment.

Social Media Week is the perfect “event” to showcase the diverse application of Social Media not least because it is crowdsourced, emergent and created by you, individually and all together. And it’s an event that not only demonstrates diversity and innovation around the globe, but also inspires us to be even more creative, to think differently, and to connect all the points of a global social world. It also encourages us to think big: anything is possible. We can reinvent ourselves and be whoever we want, connect and participate as never before through the power of digital technologies to liberated voices, talents, distribution, capital. Social Media Week is an amazing window on to all this, and we are delighted and honoured to be part of it again along with all of you.

As curators, we will do our best to ensure that Glasgow adds something of great value to the global conversation that will be going on in that week around the theme ‘empowering change through collaboration‘. This is the 2012 theme devised by non other than the Global Curator of Social Media Week Don Tapscott who we had the honour of having as our closing keynote speaker last year.

Another reason why we decided to put Glasgow forward again this year is because we know we can count even more on your support, collaboration and help. On Tuesday after the first ‘soft’ announcement was made that Glasgow will be one of the participating cities, we quickly noticed a good “buzz” on twitter. It’s all very exciting already and we are really looking forward to the 2nd of May when the full line up of cities will be announced and we can begin the process of building a fantastic week with you. If you want to get involved or to know more about this global event as it emerges, go to SMW Glasgow website or email us here.

Daniela & Tim

Crowdfunding leads to GOOD

Crowdfunding leads to GOOD

Last Friday we presented a very popular seminar on Crowdfunding alongside Stewart Whyte of McClure Naismith solicitors.

In a lively and engaging event that was part of Social Media Week London, we covered off the fundamentals of what crowdfunding actually is, how it has a strong relationship to social technologies and key aspects of the mindset and dynamics of a highly connected society. We also looked at elements you should take into account when considering a crowdfunding campaign and the legal complexities of equity-based crowdfunding and we emphasised the importance of taking good legal advice if you plan to move down that path. You can access the twintangibles slide pack here and the tweetdoc here, including all the lively discussion going on on twitter during the event.

It is sad, then, to hear about the closure of Profounder – a site that was dedicated to trying to guide US based companies through the complexity of securities law in the US (which varies considerably State to State). The platform had originated as a transactional platform but moved into the realms of guidance and compliance mode helping companies to a point where they could consider raising capital within the limited constraints permitted by the legislation at present. Only a couple of weeks ago I had a long conversation with Dana Mauriello, who along with Jessica Jackley of Kiva fame, co-founded Profounder. Dana was still enthusiastic then about the prospects for Profounder and passionate about helping companies grow through access to much needed capital.

The moral of the story is that the legal complexities of equity based funding means you absolutely need good advice, and that the US has some way to go before being as equity crowdfunding-friendly as the UK.

The good news is that Dana and Jessica will be taking their expertise on to GOOD. If you dont know then GOOD describe themselves as “a collaboration of individuals, businesses, and nonprofits pushing the world forward. Since 2006 we’ve been making a magazine, videos, and events for people who give a damn.” That sounds pretty damn good to us!

We at twintangibles wish them both well and look forward to hearing about their next ventures.

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