Enterprises seeking finance via alternative crowdfunding (CF) channels often lack the competence to develop and maintain an effective, durable, and successful pitching campaign.
Service providers may be from very different fields, such as legal advice on cross border financing issues or IPR rights, preparation of a pitching video for the product or company, PR advise how to run a successful CF campaign or how to communicate and use the investors view as well as services offered by crowdfunding platforms.
In all the above-mentioned fields are manifold service providers (public or private), however only a small number of them has experience and knowhow in crowdfunding and pitching. Thus for the qualitative arising of crowdfunding it is necessary to select and promote the appropriate service providers in the Danube region.
For this reason, within the project CROWDfunding to mainSTREAM innovation (Crowdstream), project partners created Transnational quality label for CF service providers and agreed on formal Label granting procedure.
Quality criteria for acquiring the Transnational quality label were selected with the aim to identify the quality criteria that will reflect quality of service providers in terms of crowdfunding as well as give an insight into knowledge, experience and success of the CF service providers and CF platforms in the field of crowdfunding. This is very important for CF users, especially for beginners who lack experience so they can surround themselves with experienced and quality team of professionals which will contribute greatly to the success of their CF campaign. Also, they will be able to choose the platform best suited for their needs.
In order to obtain the quality label, service providers will go through a set of questions related to the identified quality criteria. Based on their answers, software will calculate their score and if they reached set requirements, they will be awarded a quality label. All service providers who obtained quality label will be listed in order for CF campaigners to be able to see the ones who met the defined quality standards.
Crowdstream partners also designed a Quality label logo and Certificate that will be awarded to service providers who obtained the quality label. The use of logo will facilitate international recognition of the transnational quality label as well as recognition of quality CF service providers.
Transnational quality label and support tools for crowdfunding service providers will ensure higher quality of campaigns for alternative financing.
All service providers who obtain quality label will be listed in order for CF campaigners to be able to see the ones who met the defined quality standards. This will allow networking between CF campaigners and CF service providers as well as among service providers themselves, thus forming professional networks and sharing experience as well as raising awareness on crowdfunding.
The acquisition of quality label provides CF service providers with international recognition and legitimation for their work thus enabling them to reach new markets and to extend their target group. In addition, acquiring the quality label gives the service providers right to use the quality label logo.