Crowdfunding Focal Point (Cyprus)
Crowdfunding Focal Point (Cyprus)
Through the transfer of know-how from abroad and certified consultants in Cyprus, the Cyprus Chamber of Commerce and Industry (CCCI) launched this specialised focal point webspace for Cypriot companies/projects/ideas of the blue economy offering them services such as information and access to the crowdfunding markets, training for executing crowdfunding campaigns, connectivity with investors and international networking and cooperation.
The Cyprus Chamber of Commerce and Industry is a leader in promoting such alternative financing mechanisms for the blue economy of Cyprus. Participating in the Blue Crowdfunding project co-funded by the Interreg Med programme, the Cyprus Chamber of Commerce and Industry represented Cyprus in a consortium consisting of 13 organisations from 9 countries with the aim to promote crowdfunding as a means of financing for small and medium-sized enterprises in the blue economy.
Here is an overview of the project activities undertaken by the CCCI:
Webinars by ‘Blue Crowdfunding’ project
Within the framework of the Interreg Med Blue Crowdfunding project, the CCCI organized webinars and a symposium, providing specialized guidance for the development and implementation of crowdfunding campaigns by Cypriot start-ups.
Preparing a Crowdfunding Campaign, 26 Jan 2021
Best Practices for Crowdfunding, 3 Feb 2021
Next Steps following a Crowdfunding Campaign, 9 Feb 2021
Blue Crowdfunding Symposium, 5-6 April 2022, Nicosia
Goteo is an open network for crowdfunding, collaborations and training, leader in social innovation. With 2 rounds and fiscal advantages for donors. Goteo has a dedicated funding option for blue economy projects.
Go Get Funding is a crowdfunding website that lets you raise money for anything that matters to you. From personal causes and events to projects and more.
Crowdbase, is a Cypriot-based crowdfunding platform. It supports innovative businesses that serve the community. Join us and help their businesses grow through crowdfunding.
Blue Economy Crowdfunding Success Stories
Blue Crowdfunding Interreg Med Project
The Interreg MED Programme gathers 13 European countries from the Northern shore of the Mediterranean. They are working together for a sustainable growth in the region. The Programme supports projects developing innovative concepts and practices and promoting a reasonable use of resources. The cluster will develop training programmes, dissemination activities and access to funding opportunities for companies that want to develop Blue Economy products or services in the Mediterranean area. Furthermore, the establishment of a blue crowdfunding cluster will allow us to mainstream policy solutions and strengthen the networking opportunities between its members related to crowdfunding. The cluster, its membership, services and the network will remain permanent structures after the project end. This will support institutions, improve capacities and ensure information about new trends of crowdfunding.
Registered as the European Crowdfunding Network AISBL (ECN) in 2013 in Belgium, is an independent, professional business network promoting adequate transparency, regulation and governance in digital finance while offering a combined voice in policy discussion and public opinion building.
The European Regional Development Fund (ERDF) provides funding to public and private bodies in all EU regions to reduce economic, social and territorial imbalances.
The Cyprus Securities and Exchange Commission, better known as CySEC, is the financial regulatory agency of Cyprus. As an EU member state, CySEC’s financial regulations and operations comply with the European MiFID financial harmonization law. Below are links to the Directive related to crowdfunding in Cyprus.
- Directive DI87-10 of the Cyprus Securities and Exchange Commission on the provision of crowdfunding, 22 Jan 2020
- CySEC finalises the investment-based crowdfunding rules, 15 Jan 2020