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Venice launches a civic crowdfunding initiative

The call for civic crowdfunding will officially start in January 2021 and will be addressed to the realities of the Third Sector and non-profit associations of the Venetian territory. If the projects manage to raise 50% of the target amount, they will be co-financed for the remaining 50% by the City of Venice, with a non-refundable contribution up to $60,000 (€50,000) in total.

J. Frank Sigerson

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These days, Venice seems to capture the crowdfunding scene in Italy. In the past few days, the e-Concept equity crowdfunding campaign has been presented on Ecomill, which launched an electrified pole for the emerging electric boating market. Now, the City of Venice has presented a civic crowdfunding project, carried out in collaboration with Produzioni dal Basso and Fondazione Fenice Onlus.

The initiative is part of the program “La città SIcura di sé”, through which the Municipality intends to support and accompany the realization of innovative and sustainable projects able to meet the needs of the city and its inhabitants.

Read more about the e-Concept equity crowdfunding campaign presented on Ecomill and find the latest finance news with the Born2Invest mobile app.

Projects can be supported on the platform Produzioni dal Basso

The call for civic crowdfunding will officially start in January 2021 and will be addressed to the realities of the Third Sector and non-profit associations of the Venetian territory. The selected projects can be supported through a fundraising on the platform Produzioni dal Basso and, if they manage to reach 50% of the budget thanks to donations, they will be co-financed for the remaining 50% by the City of Venice, with a non-refundable contribution up to $60,000 (€50,000) in total.

“In recent years – said the Councillor Simone Venturini – the City of Venice has worked hard to strengthen social and voluntary networks, both through direct collaborations and through important calls for funding and support of projects carried out by the Venetian associative world. Only in the last year have been published important calls that have generated new and interesting projects at the service of the territory. With the project Crowdfunding Civico we intend to offer a new and useful tool to our associations thanks to which they can explore new funding channels and activate new energy. But it is not enough to offer a new tool, we intend to support the associations that want to participate with training activities carried out by competent and trained people in this field, as well as an ad hoc budget to integrate what the associations will be able to collect thanks to crowdfunding. This tool, already successfully tested in some international and European realities, now also arrives in Venice.”

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The call, explained the Councillor Venturini, will be addressed to the territory of the city of Venice, for innovative projects in the social field able to stay alive with their legs even after the funding period. The purpose of the initiative is to enhance and renew the strength of the social fabric of the city of Venice to discover new synergies in the direction of the principle of subsidiarity.

The initiative also includes several training sessions: the first is scheduled on November 24th, while the second is scheduled for December 15th. The meetings will take place online and will be open to all. In addition, the designers of the selected ideas will be supported by Fondazione La Fenice to learn how to make the best use of the crowdfunding tool and communicate their project in the most effective way.

Andrea Grigoletto, Technical Director Fondazione Fenice Onlus added that “The process of Civic Crowdfunding of the city of Venice is one of the main pilot cases at national level and aims to revitalize the city’s territory through social innovation projects. The path offered with the support of Fondazione Fenice in the training and tutoring phase of the project proposals, includes three main stages: understanding the tool of Civic Crowdfunding, significance of innovation, measurement of its impact on the resolution of the problems of the territory.”

Moreover, in order to promote civic crowdfunding, events will be organized on the territory, with the aim of promoting community participation.

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(Featured image by bogitw via Pixabay)

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First published in Crowdfunding buzz, 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.