Role of alternative finance
Iceland has a small market size given the country’s small population and economy, which can be estimated to 0,8m EUR for 2015. Nevertheless, Iceland on a per capita basis has a higher figure than both Norway and Sweden with €2.56 per person.
(source: Zhang, B. et al (2016): Sustaining Momentum. The 2nd European Alternative Finance Industry Report. Cambridge University. https://www.jbs.cam.ac.uk/fileadmin/user_upload/research/centres/alterna...)
Overall Nordic countries are characterised by a positive trend
There is one active rewards-based crowdfunding platform in the country, Karolina Fund, which focuses on cultural and creative projects. Since its creation in September 2012, the platform has collected a total of €1,451,591.. Katarina Fund is a member of the Nordic Crowdfunding Alliance, that includss crowdfunding platforms from four different Northern European countries (Finland, Norway, Denmark and Iceland).
|Reward and donation-based crowdfunding||
There is one active rewards-based crowdfunding platform in the country, Karolina Fund, which focuses on cultural and creative projects. Since its creation in September 2012, the platform has collected a total of €1,451,591.
|Is there a specific national regulation in place applying to crowdfunding?||
Currently, matching funds, state aid or tax benefits for alternative finance are not available in Iceland.
|Matching funds initiatives|
|Crowdfunding guidelines for entrepreneurs / investors|
|Guidelines for researchers on crowdfunding for R&I|
NAME: Karolina Fund.
DESCRIPTION: founded in September 2012, today it has 249 projects founded with 74% achieving success. They believe that part of their strength comes from the analytics. On their front page, they publish key metrics and live pledge statistics as well as user information. The platform does not only focus on R&I projects, but only innovation oriented projects were initiated.
NAME: Flotstofan - Reykjavik Floating.
PLATFORM: Karolina fund.
DESCRIPTION: The first flotating therapy centre in Iceland. Part of the success probably derives from the advertisment that promotes the completely new therapy in the country with many beneficial effects. The message is that everybody can take advantage from this therapy.
AMOUNT RAISED: €12,616