Crowdfunding and Civic Crowdfunding: Theoretical Features and Future Prospects

Oliva, Nadia

doi:10.5772/intechopen.74739

Cited by 4 publications

(2 citation statements)

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“…One of the first definitions of civCF was very narrow. Barollo and Castrataro posited that civCF takes place outside of public budgets: civCF is the "collective funding of public works and projects-outside the budget of the interested entity or administration-collected by citizens, organisations and private companies sometimes in match funding with the administrations themselves" (Barollo and Castrataro 2013;Oliva 2018;Colasanti et al 2018). The dichotomy between campaigns which are contributing towards a public budget and campaigns that function outside of public budgets is seldom explicitly discussed in the literature, but present in the different perspectives discussed below.…”

Section: Definition and Perspectives Of Civic Crowdfundingmentioning

confidence: 99%

Civic Crowdfunding: Four Perspectives on the Definition of Civic Crowdfunding

Wenzlaff¹

2020

Advances in Crowdfunding

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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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Section: Definition and Perspectives Of Civic Crowdfundingmentioning

confidence: 99%

Civic Crowdfunding: Four Perspectives on the Definition of Civic Crowdfunding

Wenzlaff¹

2020

Advances in Crowdfunding

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“…Therefore, the present fundraising originates from the concept of microfinancing and has become common at the beginning of the 1990s as an evolution of microcredit [6]. With the coming of the Internet in 1991, the early online fundraising campaigns began and they were mostly meant for charity purposes, like those started by the platform JustGiving 2000 [7].…”

Section: Historical Origin and Evolution Of Crowdfundingmentioning

confidence: 99%

Crowdfunding and Civic Crowdfunding: Theoretical Features and Future Prospects

Oliva¹

2018

Public Management and Administration

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The aim of this work is to carefully analyze crowdfunding, an innovative financial tool based on fundraising activities intended for "crowds" of people, also meant as an antidote to the global financial crisis. After an introduction to crowdfunding, its origins and evolution, the document pinpoints the specificities of the various models. Special attention will be then reserved to civic crowdfunding, which engages the citizens in financing or co-financing public works meant to improve and preserve the territory, or to support social and cultural activities. This study focuses on critical and successful factors of the crowdfunding campaigns to then propose a research schedule meant to implement the future of this emerging tool.

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From Passive Observer to Confident Leader: Taxonomies for Public-Private Collaboration in Regional and Local Civic Crowdfunding

Wenzlaff

2021

Crowdfunding in the Public Sector

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Crowdfunding and Civic Crowdfunding: Theoretical Features and Future Prospects

Cited by 4 publications

References 1 publication

Civic Crowdfunding: Four Perspectives on the Definition of Civic Crowdfunding

Civic Crowdfunding: Four Perspectives on the Definition of Civic Crowdfunding

Crowdfunding and Civic Crowdfunding: Theoretical Features and Future Prospects

From Passive Observer to Confident Leader: Taxonomies for Public-Private Collaboration in Regional and Local Civic Crowdfunding

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