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Crowdfunding seen as an innovative post-crisis financing mechanism in Tunisia

Countries around the world are struggling to find new ways to revive their economies deeply affected by the COVID-19 health emergency. Tunisia is considering crowdfunding as a post-crisis financing mechanism. A webinar was held on this subject on May 21st, which was attended by 4,000 people. Among other things, the study also highlighted the importance of the promulgation of the crowdfunding law.

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This picture show a city in Tunisia.

A webinar was organized on May 21st 2020 in the framework of Innov’i – EU4Innovation, a project to support the entrepreneurship and innovation ecosystem in Tunisia. The project was funded by the European Union and implemented by Expertise France, and in partnership with the Ministry of Industry and SMEs and the Agency for the Promotion of Industry and Innovation (APII).

If you want to find out more details about the webinar held in Tunisia on the importance of crowdfunding in the revival of the economy after the COVID-19 crisis and to read the latest financial headlines in the world, download for free the Born2Invest mobile app. Our companion app makes it easy for you to keep informed, to intuitively move from story to story, and from section to section. Our clean design lets you read articles without clutter, and use the app with no limits on how many articles you can view.

The main theme of the webinar was the role of crowdfunding in the economic recovery

The main theme of this webinar was the presentation of the results of the study on the role of crowdfunding as an instrument for post-crisis economic recovery in Tunisia. The study was conducted in coordination with the Ministry of Finance, the Central Bank of Tunisia, the Financial Markets Council, CONECT and UTICA.

This meeting was attended by Mr Salah Ben Youssef, Minister of Industry and SMEs, Mr Omar Bouzouada, Director General of APII, Mr Arnaud Poissonnier, founder of Babyloan.org and Mr Mazen Alkassem, international technical expert at Expertise France. It highlighted the importance of the promulgation of the crowdfunding law, a draft of which was submitted to the ARP on February 21st, 2020, and the creation of a participatory approach as mentioned by Mr. Ben Youssef.

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Crowdfunding can be particularly helpful for SMEs, VSEs and startups

The study presented in this webinar first highlighted the different mechanisms of crowdfunding, exploring its potential in the post-crisis economic recovery. It highlighted, in particular, its role in supporting Tunisian VSEs, SMEs, and startups, in parallel with the economic recovery and support measures taken by the Tunisian government.

In the second part of the presentation, Mr. Poissonnier shared with the panelists and the audience his recommendations on the role of crowdfunding as an instrument for post-crisis economic recovery in Tunisia. The expert stressed the role of this financing instrument, and of the reward grant mechanism in particular, as an ally of project leaders, an essential tool in the creation of start-ups, support for existing companies and citizen mobilization on local community projects.

A few thousands people took part at the webinar

This webinar was attended by more than 4,000 people. Several questions were raised by the participants around this theme: How can the donation-reward help entrepreneurs to launch their startups, how much can a campaign of this kind raise? Concretely, how can crowdfunding boost the economy and help reduce youth unemployment? What public intuitions will the roles of controllers, supervisors of the operationalisation of the law be? among others.

Crowdfunding has proven itself in the financing of personal projects,the financing of a project, of self-employment, the dynamization of cultural projects, sports and others, the creation of startups, and the refinancing of Microcredit.

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(Featured image by 12019 via Pixabay)

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First published in Enterprises Magazine, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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J. Frank Sigerson is a business and financial journalist primarily covering crypto, cannabis, crowdfunding, technology, and marketing. He also writes about the movers and shakers in the stock market, especially in biotech, healthcare, mining, and blockchain. In the past, he has shared his thoughts on IT and design, social media, pop culture, food and wine, TV, film, and music. His works have been published in Investing.com, Equities.com, Seeking Alpha, Mogul, Small Cap Network, CNN, Technology.org, among others.