Spain - the first country in the world to allow its citizens to invest in state crowdfunding platform
Each venture will receive a free year of business mentoring and support to help the businesses reach their growth targets
- March 20, 2018 16:00
- Monika Dimitrova
From March 15th 2018, the government of Biscay will allow its citizens to invest in state handpicked start-ups. It will be the first local government to do this on the planet. Crowdfunding Bizkaia's founders say the advantage of having local government involved is its capacity to boost investor confidence by mitigating risk.
Biscay’s government platform puts applying companies to the test with a rigorous financial and economic appraisal, which is meant to take the pressure off the shoulders of investors as they don’t’ have to check the viability and risk of the startup themselves. Chosen startups can request to have the government match the level of funding raised by the public, with a limit of €30,000. Each venture will also receive a free year of business mentoring and support to help the businesses reach their growth targets.
Source: The Local
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