The 1st Crowdfunding Conference in Cyprus: Paving New Ways to Finance
15 June 2016, 8:00AM - 3:30PM, EET
The 1st Crowdfunding Conference in Cyprus: Paving New Ways to Finance, organised by KPMG and Anirot Development Organisation through their mutual initiative Crowdfunding Cyprus, which took place on 15th June at the Hilton Park in Nicosia, was hailed with great success and paved the way for the introduction of Crowdfunding as a viable alternative investment mechanism. It examined all issues pertaining crowdfunding, a fast-growing alternative to access finance, both through a regulatory and entrepreneurial perspective.
The conference was attended by approximately 150 participants, including new and existing entrepreneurs, service providers, lawyers and accountants, investors, banking institutions, consultants and anyone interested in funding, investments, innovation and technology. Speakers included world-renowned experts from the US, the UK, Switzerland, Israel, Greece and Cyprus, including platform owners, advisors and alternative investment/ FinTech experts.
The participants had the opportunity to learn about crowdfunding and the different types of crowdfunding used to fund projects, ideas and products. Participants were informed on the current state of crowdfunding in Cyprus and the steps forward for introducing a bespoke legislative and regulatory framework for crowdfunding at national level. Speakers presented international experiences, the complementarity of crowdfunding and traditional banking borrowing as well as ways to run a successful crowdfunding campaign.
A panel discussion offered great insights to all participants and addressed specific questions concerning the status of current crowdfunding regulation, risk and due diligence performed by platforms to investors and mechanisms through which an innovative project can secure funding through crowdfunding platforms.
It is envisaged that the event will be repeated annually, attracting participants from Europe and the wider region and establishing Cyprus as a crowdfunding hub which can offer both crowdfunding services and other supporting services related to creating a vibrant and profitable new business niche.