Ce diaporama a bien été signalé.
Nous utilisons votre profil LinkedIn et vos données d’activité pour vous proposer des publicités personnalisées et pertinentes. Vous pouvez changer vos préférences de publicités à tout moment.
Crowdfunding
--SSE Alumni Seminar
ROBIN TEIGLAND & CLAIRE INGRAM
STOCKHOLM SCHOOL OF ECONOMICS
DECEMBER 2013
ROBIN.TEIGLAN...
Crowdfunding in Sweden
Dr. Robin Teigland
Associate Professor
Stockholm School of Economics
robin.teigland@hhs.se
@robinte...
Today’s presentation
What is crowdfunding?
From crowdfunding to crowd equity
Why crowdfund?
Trends in crowdfunding
Q&...
What is Crowdfunding?
Accumulation of small investments in individual
projects by large number of individuals (the
“crowd”...
Local Stockholm success story:
Flippin’ Burgers
Money raised:
SEK 36,502 /
€4,000
Number of
investors: 186
Date funded:
Se...
Enabling local, small-scale
solutions

http://travel.cnn.com/best-americana-restaurants-europe-023346
Crowdfunding 2012
Est. 5.5 mln
(Oct 2013)

Massolution 2013

Worldwide
$2.7 bln
470k projects
800+ platforms
Four forms of crowdfunding
Form of funding
Donationbased

Benefits for funders

Donation

Intangible benefits.

Donation o...
Investment Role and Type

Angel
Investors

Soft Loans

Venture
Capitalists

Investment Value 2012

Invest large amounts, m...
Crowd equity raising its
head…
Millions of dollars

• Politicians generally
positive -> entrepreneurs
+ job creation
• But...
http://www.fundable.com/blog/crowdfunding-infographic---the-jobs-act-explained
Increasing focus on Crowd Equity in
Sweden

Sweden 2011

UK 2010

Finland 2011

Equity: 27,8 mln SEK

To Sweden 2013

To S...
Why crowdfund?
Test the market/Proof of concept
“Evangelists” / Ambassadors
Marketing & publicity (int’l platforms, mos...
“It’s not just about the money.”
685 people talking
about product on
social media

Australia’s “Major Disaster Department”...
International expansion
Requirements to succeed?
What do you give in return (thank you,
reward, pre-purchase, shares)?
Choose the right platform...
But there are potential downsides
Project(s) may not be understood by crowd
Not significant amounts of money
•
•

More a...
Trends in Crowdfunding
Niche
Community
Hybrid platforms
Enterprise sponsored
Internal corporate crowdfunding
LIVE!
...
Crowdfunding for research
Strategic partnership

+
Celebrities entering the scene

Donald Trump’s crowdfunding site
Open to anyone
Executive Producer Robert Redford
Narrated...
Internal corporate
crowdfunding
iFundIT
More than 300 participants
Entry-level workers to VPs

Given $2,000 to invest o...
Enabling entrepreneurs
anywhere
Ushahidi of Kenya

Kenya
“Made in Africa” 3D printer (Togo) through
Ulele

Winner of International
Space Apps Challenge

http://www.engineering.com...
But many unanswered
questions
Cross border investments?
Secondary markets for crowd equity shares?
Taxation issues for ...
Venture capitalists are the
travel agents of yesterday –
here today, gone tomorrow.
Venture capitalist
in Silicon Valley –...
http://www.slideshare.net/eteigland/crowdfunding-in-sweden
Thank
you!
Questions
?

Image via NewYorker.com
If you love knowledge, set it free…

Photo: Lindholm, Metro
Photo:
Nordenskiöld

Robin Teigland
robin.teigland@hhs.se
www....
Crowdfunding SSE Alumni Seminar Teigland & ingram
Crowdfunding SSE Alumni Seminar Teigland & ingram
Crowdfunding SSE Alumni Seminar Teigland & ingram
Crowdfunding SSE Alumni Seminar Teigland & ingram
Crowdfunding SSE Alumni Seminar Teigland & ingram
Prochain SlideShare
Chargement dans…5
×

Crowdfunding SSE Alumni Seminar Teigland & ingram

2 018 vues

Publié le

Presentation from SSE Alumni Seminar in Dec 2013. Video can be viewed here: http://www.livestream.com/sseresearch.

Publié dans : Business, Économie & finance
  • Soyez le premier à commenter

Crowdfunding SSE Alumni Seminar Teigland & ingram

  1. 1. Crowdfunding --SSE Alumni Seminar ROBIN TEIGLAND & CLAIRE INGRAM STOCKHOLM SCHOOL OF ECONOMICS DECEMBER 2013 ROBIN.TEIGLAND@HHS.SE
  2. 2. Crowdfunding in Sweden Dr. Robin Teigland Associate Professor Stockholm School of Economics robin.teigland@hhs.se @robinteigland Claire Ingram PhD Student Stockholm School of Economics claire.ingram@hhs.se @Claire_EBI
  3. 3. Today’s presentation What is crowdfunding? From crowdfunding to crowd equity Why crowdfund? Trends in crowdfunding Q&A
  4. 4. What is Crowdfunding? Accumulation of small investments in individual projects by large number of individuals (the “crowd”) via or with help of Internet and social networks (De Buysere et al., 2012) Picture: FundedByMe
  5. 5. Local Stockholm success story: Flippin’ Burgers Money raised: SEK 36,502 / €4,000 Number of investors: 186 Date funded: September 2011 Sector: Food
  6. 6. Enabling local, small-scale solutions http://travel.cnn.com/best-americana-restaurants-europe-023346
  7. 7. Crowdfunding 2012 Est. 5.5 mln (Oct 2013) Massolution 2013 Worldwide $2.7 bln 470k projects 800+ platforms
  8. 8. Four forms of crowdfunding Form of funding Donationbased Benefits for funders Donation Intangible benefits. Donation or preReward-based purchase Equity-based Investment Debt-based Loan Ingram & Teigland 2013 Rewards in addition to intangible benefits. Return on investment if company does well. Rewards sometimes also offered and intangible benefits may motivate too. Repayment of loan with interest. Alternatively intangible benefits if loan given interest-free.
  9. 9. Investment Role and Type Angel Investors Soft Loans Venture Capitalists Investment Value 2012 Invest large amounts, make few investments, take equity share. 3.3-3.9 billion SEK p.a. (approximation based on 2008 data) State loans at high interest rates that can be written off if enterprise 2.4 billion SEK p.a. (ALMI alone) dissolution. Invest large amounts, make few investments, take equity share. Donation, pre-purchase/reward, or Crowdfunding equity, depending on platform and entrepreneur’s preferences. Ingram & Teigland 2013 1.8 billion SEK p.a. (2010 data) Estimated 37 million SEK p.a.
  10. 10. Crowd equity raising its head… Millions of dollars • Politicians generally positive -> entrepreneurs + job creation • But regulation is lagging in most countries • US, Italy, Denmark changing regulations enabling equity Massolution 2013
  11. 11. http://www.fundable.com/blog/crowdfunding-infographic---the-jobs-act-explained
  12. 12. Increasing focus on Crowd Equity in Sweden Sweden 2011 UK 2010 Finland 2011 Equity: 27,8 mln SEK To Sweden 2013 To Sweden 2013 Reward: 6,8 mln SEK Equity only Equity only
  13. 13. Why crowdfund? Test the market/Proof of concept “Evangelists” / Ambassadors Marketing & publicity (int’l platforms, mostly) Raise funds faster Faster time to market Money
  14. 14. “It’s not just about the money.” 685 people talking about product on social media Australia’s “Major Disaster Department” World’s largest telecom
  15. 15. International expansion
  16. 16. Requirements to succeed? What do you give in return (thank you, reward, pre-purchase, shares)? Choose the right platform for you Make concept easily understood Ensure initial critical mass Bring the crowd I have a dream! And “The crowd needs fuel!”
  17. 17. But there are potential downsides Project(s) may not be understood by crowd Not significant amounts of money • • More about publicity But changing with crowd equity Other skills/resources do not seem to be forthcoming
  18. 18. Trends in Crowdfunding Niche Community Hybrid platforms Enterprise sponsored Internal corporate crowdfunding LIVE! Economic development Celebrities
  19. 19. Crowdfunding for research
  20. 20. Strategic partnership +
  21. 21. Celebrities entering the scene Donald Trump’s crowdfunding site Open to anyone Executive Producer Robert Redford Narrated by Jodie Foster
  22. 22. Internal corporate crowdfunding iFundIT More than 300 participants Entry-level workers to VPs Given $2,000 to invest over 8 week period Choose internal projects in which to invest
  23. 23. Enabling entrepreneurs anywhere Ushahidi of Kenya Kenya
  24. 24. “Made in Africa” 3D printer (Togo) through Ulele Winner of International Space Apps Challenge http://www.engineering.com/3DPrinting/3DPrintingArticles/ArticleID/5712/E-Waste-3D-Printer-to-Mars.aspx
  25. 25. But many unanswered questions Cross border investments? Secondary markets for crowd equity shares? Taxation issues for investor and entrepreneur? Lack of support and strategic advice for both investors and entrepreneurs? How to better leverage “crowd” for resources?
  26. 26. Venture capitalists are the travel agents of yesterday – here today, gone tomorrow. Venture capitalist in Silicon Valley – June 2013
  27. 27. http://www.slideshare.net/eteigland/crowdfunding-in-sweden
  28. 28. Thank you! Questions ? Image via NewYorker.com
  29. 29. If you love knowledge, set it free… Photo: Lindholm, Metro Photo: Nordenskiöld Robin Teigland robin.teigland@hhs.se www.knowledgenetworking.org www.slideshare.net/eteigland www.opencrowds.org RobinTeigland För mer information: •Research article: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2263965 •Industry report: http://blog.fundedbyme.com/robin-teigland/

×