The Nordic Crowdfunding Alliance

A Nordic partnership of key players in the Nordic crowdfunding scene is committed to developing an ever more crowdfunding-friendly Nordic region.

The cross Nordic alliance was officially established in March 2014 by the founding members from Denmark, Norway, Finland and Iceland with the University of Agder’s Center for Entrepreneurship in Norway as the project coordinator.

Has raised almost €5 million in two years

So far, the alliance members are jointly responsible for helping entrepreneurs, artists and social ventures raise approximately €4.7 million in the period from mid-2012 to the end of 2014, with figures more than doubling each year.

“In essence, crowdfunding is an important mechanism by which finance-starved early stage entrepreneurs can raise funding from the public, by collecting small sums from many people via Internet platforms,” explains Rotem Shneor, Associate Professor at the School of Business and Law, Agder University and responsible for the Nordic Crowdfunding Alliance.

“The advantages of the process are, that not only can early stage projects get access to funding, but that they build communities of fans and supporters early on in the venture’s life. They are also showered with feedback, ideas and criticism that helps them fine tune concepts, products, services and business models in a timely manner.”

The crowds support makes it possible to quickly raise finance, validate the market and establish initial customer base recruitment, while riding the waves of online communities and social media.

Among other things the alliance is organizing a series of events across the Nordics with the purpose of spreading knowledge and understanding of crowdfunding and its many benefits. You can find more information about their activities on their website.