Crowdfundmatch, the European Pilot Project to Improve Regional Development Policies

The Regional Ministry of Economy, Science and Digital Agenda, through the Directorate General for Enterprise, is participating in the Crowdfundmatch pilot project, approved by the European Commission and financed by the Interreg Europe program.

It is an initiative that has a marked innovative character, as it is the first in the EU that focuses on combining European Structural and Investment Funds with digital crowdfunding campaigns.

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Crowdfundmatch is coordinated by the Italian regional government of Marche, and formed by a consortium composed of nine partners

Among the partners are the Ministry of Economy, Science and Digital Agenda of the Regional Government of Extremadura; the Public Investment Development Agency JSC of Lithuania; the Northwest Regional Development Agency of Romania; the Western Pomerania region of Poland; the province of Antwerp in Belgium; the province of Utrecht in the Netherlands; the Department of Infrastructures, Territories and Civil Protection of the Marche region of Italy and the central region of Macedonia in Greece. In addition to other partner public authorities such as the Ministry of Finance of the Republic of Lithuania.

Among its objectives is the exchange of experiences between the participating regions for the combination of crowdfunding and European structural and investment funds; the exchange of existing good practices and creation of new good practices; as well as the improvement of regional policy instruments in the use of European funds.

In addition to the design and implementation of pilot projects for the combination of crowdfunding and European funds in the five most advanced partner regions, among which is Extremadura thanks to its previous experience with the Cofinancia program, which was aimed at financing Extremaduran initiatives through crowdfunding.

Crowdfundmatch started on March 1st, 2023, and will end in February 2027

During the 48 months of the project, each of the participating regions will form a group of key players that will cooperate throughout the duration of the project in order to identify, test and evaluate the potential applications of this new crowdfunding formula. In addition, the regional and national context for the development of new crowdfunding practices will be analyzed and shared with the other regions participating in the project to identify regional best practices that combine public and private funds.

Through this project, Crowdfundmatch partners will have the opportunity to develop a common methodology that will be tested through different pilot projects, and then share the results.

Once the pilot experiments have been completed, the results will be used to implement policy improvements in the actions included in the respective operational programs of the participating regions. In the follow-up phase, the partner regions will monitor the first effects of the policy improvements and exchange experiences related to adaptation.

The projects developed within the framework of the Interreg Europe program aim at an intensive transnational exchange of policies between the partners, and eight transnational events are planned throughout the project. Specifically in Extremadura, it will take place in the first half of 2024, and in addition to the project partners will bring together key actors linked to the field of crowdfunding and management of policy instruments in the participating regions.

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(Featured image by RDNE Stock Project via Pexels)

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

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