We held the first Belgrade Crowdfunding Convention together with partners from the Heinrich-Böll Stiftung, GIZ and the Social Inclusion and Poverty Reduction Unite of Serbia. The goal of the convention was to foster a more systemic approach towards developing crowdfunding in Serbia and the region as an alternative source of financing, especially considering its benefits for SMEs, startups and NGOs.
By 2017., $653.134 has been raised by reward-based crowdfunding in Serbia, while only 41 campaigns out of 570 have been successful (7,2%). The number of backers grows yearly but their average number per successful campaign is still a low 148. This duality of simultaneous underdevelopment and growth of the crowdfunding industry which is portrayed in the results of our research also points out to the importance of the current moment for promoting and supporting Serbian crowdfunders.
Crowfunding is not only an alternative source of financing for those with less access to traditional funding. It can affirm the financial stability of the market, improve the entrepreneurial climate and democratize the third sector and social activism. We gathered crowdfunding experts, local government representatives and future crowdfunders to diagnose the important further steps for unleashing this full potential of a young crowdfunding industry.