Civic Crowdfunding: Four Perspectives on the Definition of Civic Crowdfunding

Abstract

Campaigns are also hosted on few equity-based CFPs and lendingbased CFPs (Assenmacher 2017; Catapult 2018; Wenzlaff et al. 2015; Old et al. 2019). The civic equity-based crowdfunding platform "Leih-Deiner-Stadt-Geld" (Lend money to your city) is facilitating equity investments in city property, such as an investment into firearms equipment at the city of Oestrich-Winkel (LeihDeinerStadtGeld GmbH 2012). Civic crowdfunding campaigns can be found on special-purpose CFPs, with Spacehive being the most prominent international example. Italy, France, the Netherlands, the UK, Germany, and many other countries have seen platforms dedicated to civic crowdfunding, with a majority of platforms offering donations and pre-sales of rewards. Almost all major international reward-based platforms (like Kickstarter, Indiegogo, GoFundme) and many local reward-based platforms have introduced project categories focussing on civil purposes (Davies 2014). The German platform 'startnext', in its category called 'Community', featured projects such as the funding of a fountain in a Berlin Park or the Pacific Garbage Screening Project (Förderkreis des FEZ-Berlin e.V. 2018; PGS-Team 2018). The Italian platform Produzioni Dal Basso is an all-purpose CFP which features the category of 'Social and Community', making up 1145 projects (of 5771 projects in total) and EUR 3.6m (of 11.4m in total) and thus constituting the biggest category on the platform. It is interesting to reflect on the interaction between all-purpose CFPs and special-purpose CFPs. The history of platform-based crowdfunding cannot be summarized in this chapter, but with regard to civCF, it should be noted that the first reward-based platforms were special-purpose CFPs dedicated to music and film (Sellaband, Artistshare) which gave rise to all-purpose platforms (Kickstarter, Indiegogo). The success of platforms like Kickstarter and Indiegogo influenced the founding of special-purpose civCF platforms, which in turn motivated the large all-purpose platforms to introduce civCF categories. In equity-based and lending-based crowdfunding, the special-purpose CFPs developed alongside special-purpose CFPs for start-ups, energy projects, or real estate projects. However, international equity-based crowdfunding platforms like OurCrowd do not have a dedicated category to civCF campaigns. Analysing the interaction between civCF platforms and civCF categories on all-purpose CFPs merits further research since it would provide a K. Wenzlaff

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“…The online fundraising system grew and became very popular several years ago, initiated by the two bearers of the United States of America, such as kickstarter.com and indiegogo.com (Wenzlaff, 2020). However, no exact date stated when this kind of social business was transmitted to Indonesia, which was evident before kitabisa.com in 2013, there have been patungan.net and ayopeduli.com.…”

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“…Kemudian, konsep crowdfunding juga diterapkan ke berbagai sektor mulai dari kreatif hingga sosial. Dari tahun ke tahun, dana yang terkumpul lewat kegiatan crowdfunding meningkat pesat hingga bisa menyentuh angka lebih dari 2 miliar dolar (Agrawal et al, 2013;Bradford, 2012;Kleemann et al, 2008;Kunz et al, 2016;Massolution, 2013;Utenberg, 2010;Wenzlaff, K. Gumpelmaier, W. Eisfeld-Reschke, 2012).…”

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“…The secondary differences to the other classes of crowdfunding are in terms of the main platforms, online communities, participants, sponsors, narratives in the campaigns, etc. (Lee et al, 2019;Wenzlaff, 2020).…”