Zagreb Corwdfunding Convention was held in Croatia’s northwestern capital, Zagreb, in 2016. The convention has the objective of assisting a variety of crowdfunding activities and helping with the development of crowdfunding in Croatia. During the Zagreb Crowdfunding Convention, numerous Croatian crowdfunding activities interconnect and share their outcomes and experiences. The reunion helps these activities grow bigger, and more importantly, grow better.
The key talk of the event came from Ronald Kleverlaan, one of the most active names on the European crowdfunding scene. According to the Alternative Finance Maturity Index presented by Kleverlaan, Croatia is currently at the starting, first of five levels of the market maturity.
The first, pre-mature level, includes an open dialogue between the government and the industry, simple regulations and financing educational programs, while the industry organizes informal roundtables, works with independent advisors, publishes educational articles, organizes local events and has uniformed taxonomy.
Building on current strength
According to Kleverlaan, market growth depends on variety of factors – from the general economic situation, legislative and policy framework to trigger events, such as economic crisis. Following the Alternative Finance Maturity Index, starting point should include identifying market’s current point of development, while the next step should include targeting the base-points that can be used for further upgrading. On the example of the Alternative Finance Maturity Index, informal industry events on the pre-mature level turn into organized industry events in the expansion market level, while in the competition market level industry they become integrated with traditional finance industry events. Meaning, markets can build upon their current status and strengths.
As Kleverlaan pointed out, the next stop on the Maturity Index, the expansion level, includes taking open dialogue with the government to the point of funding different stakeholders in the crowdfunding industry, as well as its open support, research and promotion. At the expansion level industry includes accountants and financial advisors in its work, organizes larger, nation-wide events, launches industry-wide associations, trains advisors and shares success stories.