Country Specific Action Plans
An Action Plan is a policy instrument that can be used to respond in a concrete way to a policy challenge. Each Action Plan is unique, in terms of local context, theme and coverage.
The aim of Action Plans is to provide detailed actions, also providing information about who will carry them out and by when, also providing a quantification of the resources needed to perform the different activities.
Action Plans can be used by decision makers as guidelines in drafting their development support policies and measures. Since Crowdfunding is a new phenomenon, decision makers usually do not have an agenda and specific knowledge on how to support it, especially in the Eastern part of Central Europe. Action Plans would change this situation; in addition, Action Plans can also be used for linking with structural funds.
As already underlined, Action Plans include the results of other studies developed within the project Crowd-Fund-Port, so as to increase specific knowledge of decision makers.
The countries involved in the preparation of Action Plans are those covered by the Interreg Central Europe Programme: Austria, Croatia, Czech Republic, Germany, Hungary, Italy, Poland, Slovakia and Slovenia.
Each Actions Plan is focussed on the following topics:
- General context and definition of the initial problem/policy challenge
- Goals of the Action Plan – focus and objectives
- Developing the Action Plan – actions and schedule
- Funding scheme
- Framework for delivery
Conclusions and Policy recommendations
Each partner has built its own Action Plan by considering its country specific situation and has highlighted the current state of the art on Crowdfunding, moreover recognising related challenges and mission. Thereafter, each partner has designed several policy recommendations to support Crowdfunding in each country and has identified 3/4 actions to support Crowdfunding initiatives until 2025 and beyond. Just to give a short overview, the following list shows some of the actions to be implemented by the Crowd-Fund-Port consortium in next years:
- Austria: Decreasing regulatory barriers for cross-border funding;
- Croatia: Comprehensive mapping of Crowdfunding;
- Czech Republic: Inclusion of Crowdfunding into development strategies;
- Germany: InnoFinance Conference 2020;
- Hungary: Create a Hungarian Crowdfunding law;
- Italy: Raise awareness on Crowdfunding;
- Poland: Emphasize Crowdfunding as a mechanism that helps filling the financing gap between banks and start-ups;
- Slovakia: Analysis of Crowdfunding market in Slovakia for the year 2018;
Slovenia: Higher financial grants for start-ups with successful CF campaigns.
What is an Action Plan?
An Action Plan is a policy instrument that can be used to respond in a concrete way to a policy challenge. Its aim is to provide detailed actions, also providing information about who will carry them out, by when and with what resources. Each Action Plan is peculiar, in terms of local context, topic and coverage. It should be a concrete and useful tool to provide an answer to the policy challenge addressed; it will vary depending on the policy challenge or process being addressed, the territorial coverage and the local context in which it is proposed to be implemented; it has to be applicable and replicable by other organisations/region/countries outside the project partnership.
How the Crowd-Fund-Port consortium will support Crowdfunding after the end of the project?
The following list shows some of the actions to be implemented byin next years:
- Austria: decreasing regulatory barriers for cross-border funding;
- Croatia: comprehensive mapping of Crowdfunding;
- Czech Republic: inclusion of Crowdfunding into development strategies;
- Germany: InnoFinance Conference 2020;
- Hungary: create a Hungarian Crowdfunding law;
- Italy: raise awareness on Crowdfunding;
- Poland: emphasize Crowdfunding as a mechanism that helps filling the financing gap between banks and start-ups;
- Slovakia: analysis of Crowdfunding market in Slovakia for the year 2018;
- Slovenia: higher financial grants for start-ups with successful CF campaigns.
Which are the policy recommendations in Central Europe for the further development of Crowdfunding?
The following list highlights some policies recommendations identified by the Crowd-Fund-Port consortium to thrive the Crowdfunding ecosystem in their countries:
- Austria: acknowledgement of Crowdfunding the existing capital market legal framework;
- Croatia: supporting alternative financing methods and monitoring their impact on Croatian economy;
- Czech Republic: national coordination of Crowdfunding;
- Germany: include Crowdfunding education in efforts to support early stage entrepreneurs and former unemployed;
- Hungary: acknowledgement of Crowdfunding the existing capital market legal framework;
- Italy: to increase awareness on Crowdfunding and its mechanism towards public and private authorities;
- Poland: ensure a stable and predictable regulatory framework for investors and adapt existing laws and regulations;
- Slovakia: overview of national strategies;
- Slovenia: preparation of comprehensive national study on Crowdfunding impact on Slovenian economy.
https://www.interreg-central.eu/Content.Node/Preparing-an-action-plan—M.Acri.pdf “Preparing an Action Plan”
Example of action plan https://www.interreg-central.eu/Content.Node/MOVECIT.html
URBACT II toolkit for Urbact Local Support Groups (provides examples of how the local group should contribute to the development of the Action Plan and some tools which can help with the aim of co-producing the Action Plans)
URBACT Summer University 2016 participant toolkit (develops in detail the method for developing an Action Plan)
URBACT Guide – Applying the results frameworks to Integrated Action Plans (how to define results from the outset of the project; what is to be achieved through the project, by when, and how it will be measured)