Crowdfunding: untapping its potential reducing risks
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- Alternativa
- 10 000 euros mean ticket – 32 companies listed including one startup for Wiseed – 40 projects funded – 20 mios euros in SME financing solo !
- A Swedish – French concept launched in 2003 in Sweden in 2008 in France on one concept SME’s need a disintermediated financial life with three concepts
- In EU regulatory terms : an Investment Service Provider (a broker) with an MTF (Multilateral Trading Facility – like AIM and the Marché Libre) license.
- One of the focuses has to be to foster trust with citizen-investors and SME’s through best practises (use of valuations, use of self imposed rules).
- Startups and SME’s desperately access to better Funding – the existing circuits are failing … But in fact they’re just not adapted.
- Local Presence Regional Presence National and Global Presence
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ALTERNATIVA The European SME Growth Market
3rd June 2013 - 2 - Alternativa - T h e E u r o p e a n S M E G r o w t h M a r k e t What is Alternativa? •
10 000 euros mean ticket – 32 companies listed including one startup for Wiseed – 40 projects funded – 20 mios euros in SME financing solo ! •
•
SME’s need a disintermediated financial life with three concepts : Crowdsourcing + Crowdfunding + Crowdtrading •
(Multilateral Trading Facility – like AIM and the Marché Libre) license. •
an EU passport for Belgium and the UK (May) & member of of
• We specialize in SME ‘s from 3 to 40 mio Euros. On Startups we Partner with
- 3 - Alternativa - T h e E u r o p e a n S M E G r o w t h M a r k e t Crowdfunding is a European Reality ! Legislation for Equity and Bond Crowdfunding should be pan european without ‘National Gold Plating’ – regulatory issues need more finetuning . One of the focuses has to be to foster trust with citizen-investors and SME’s through best practises (use of valuations, use of self imposed rules). Present regulation could ideally focus on the public offer of securities in a more adapted manner for different segments : startups, different from SME’s, lending, etc … Crowdfunding is perceived as blurring the lines between funding entrepreneurship and being entrepreneurship – we need to work on this ! Engaging regulators should be with a few key messages – our view is to simplify the public offering and make it the same Europe wide. Startups and SME’s desperately access to better Funding – the existing circuits are failing … But in fact they’re just not adapted.
- 4 - Alternativa - T h e E u r o p e a n S M E G r o w t h M a r k e t Venture Financing, Growth and Savings – a Perspective Mean GDP Gr.
Rate (%) (2002-11) Equity Market Capitalisation (% of GDP) Household Saving Rates (% of disposable income) Investments in Venture Capital (in USD) per inh. Population in Mios France 1,11 56,57
16,8 $18
65,44
Finlande 1,85 54,40
2,2 $26
5,39
USA 1,63 104,33
4,7 $75
311
Israël 3,62 59,68
6% est.* $170
7,7
Sources : 2011 data - World Bank, The Economist ,OECD & ONU *The statistical data for Israel are supplied by and under the responsability of the relevant Israeli authorities - 5 - Alternativa - T h e E u r o p e a n S M E G r o w t h M a r k e t The Missing Link - Financing the Equity Gap 250K€ 1,5M€
EQUITY GAP Financing 1M€ 50M€
Sales Revenues T HE
FINANCING
CYCLE Local Presence Regional Presence National and Global Presence Crowdfunding, Business angels Traditional Financial Markets
Junior markets, Crowdfunding, Pte Equity - 6 - Alternativa - T h e E u r o p e a n S M E G r o w t h M a r k e t Most Stock Exchanges are often struggling with SME’s
- The IPOs of SME on the big Stock Exchanges (Euronext, DBAG, LSE) are unsuitable because of fee structures and costs.
- Firms fundraisings below 1M€ rarely occurs.
- Brokers and financial institutions cannot profitably follow and don’t cater to SME’s .
- No market liquidity for SME’s because the firm value is not analysed and updated.
- Centralized structure: new initiatives are always for Intermediate or middle sized Companies (i.e. Bourse de L’entreprise )
- Alternativa model for SME. A low-cost integrated system
has regulatory approval.
- Specialised in fundraising from 250K €
to 2.5M € , using tax and public incentives
- In partnership with local ethical actors
- Educating investors and SME to financing cycles (Alternativa stock Guide for SME and SME investors)
- Quick Capital raising time horizon (6 weeks)
- Key Partnerships with leading equity crowdfunders, and Impact investing (SRI). - 7 - Alternativa - T h e E u r o p e a n S M E G r o w t h M a r k e t ‘‘ C ustomers tell you what they want, not what they need ’’ Steve Jobs - 8 - Alternativa - T h e E u r o p e a n S M E G r o w t h M a r k e t Private and Insitutional More than 15,500. in France Belgium & UK Investors Belgian and UK
Passeport Regional Market Places
32 32 listed companies. Wide range of sectors, sizes and profiles (from €100K to €40Mios revenues) Companies Including supervisory authorities… …and a regular media coverage
- 9 - Alternativa - T h e E u r o p e a n S M E G r o w t h M a r k e t 1 rue de la Bourse 75002 Paris Phone : +33 1 42 27 85 51
Philippe Dardier, CEO philippe.dardier@alternativa.fr Download 40.7 Kb. Do'stlaringiz bilan baham: 
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