act4Greece NBG Crowdfunding Platform

George Kametas Sector Head Business Banking & NBG Business Seeds Retail Banking Segments

Sunday, April 24, 2016

Act4Greece

act4Greece act4Greece current Strategic Partners

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Act4Greece

act4Greece NBG: a crowdfunding pioneer in the European banking sector

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France: SG has established a partnership with SPEAR, a platform enabling businesses or charities to successfully implement a responsible project and to obtain a more advantageous loan thanks to solidarity savers. In 2014, SG financed 4 projects with social and environmental value added for a total of 750,000 euros and enabled some of its customers to know where their savings are going.

Belgium: KBC launched in 2014 a crowdfunding website (Bolero) connecting entrepreneurs with investors (https://bolero-crowdfunding.be). KBC sees crowdfinance as a valuable way for innovative startups and SMEs to obtain financing.

The Netherlands: ABN AMRO was the first bank to run a crowdfunding pilot platform (www.seeds.nl) in 2012.

Act4Greece

act4Greece

1.  welfare, health & solidarity

2.  social economy & entrepreneurship

3.  culture & cultural entrepreneurship

4.  research, education & training

5.  youth & innovative entrepreneurship

6.  environment & sustainability

7.  sports activities

Thematic areas

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Goals

o  to support a broad spectrum of initiatives and projects in the area of social and developmental banking.

o  to facilitate and manage funds offered by individuals and legal entities.

act4Greece: goals and thematic areas

the choice of thematic areas is made on the basis of current conditions in Greek society and the economy. It aims at enhancing awareness and broadening public participation to support collective social and developmental initiatives and to highlight the value-added of solidarity and social engagement in facing common challenges.

Act4Greece

act4Greece

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Transparency and clarity in filing: Each action in the context of the Program shall be described with full clarity and transparency so that each participant shall fully understand the relevant procedures before deciding to participate therein. Through the platform, each interested party shall be able to pose relevant questions/requests that will be answered by a special subcommittee in line with a specific procedure. Control for compliance: All activities are monitored and checked before the commencement of their implementation in order to ascertain their compliance with the existing regulatory and legislative framework and are then approved by the competent body of the Program. Accountability: By 31 December of each year, the Management Committee shall submit a fundraising accountability report to the competent bodies of the Bank and the Minister of Labor, Social Insurance and Social Solidarity, as provided for by law. The implementation of projects similar to those launched by public bodies shall also require the approval of the Minister of Labor, Social Insurance and Social Solidarity. All cooperating bodies adhere to the requirements of the Program and the special terms of operation of the Program. All related documents and data are kept in a relevant file for a least five (5) years following termination of the cooperation and are available to the competent judicial and supervisory authorities, in the event of fraud or other suspicious activities. Supervision of the use of funds and creation of a comprehensive profile of each donor: All who participate as donors declare that the funds they offer in the framework of the Program are of lawful origin and are not the proceeds of illegal activities as defined by the provisions of Law 2331/1995, as amended. Required checks shall be carried out and the relevant information will be requested for the documentation of the participant’s financial profile, in accordance with the respective provisions in force. EU legislation on payment services (the Payment Services Directive) shall apply in full.

Accountability, disclosure and supervision

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Act4Greece

act4Greece

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act4Greece starts with 4 projects

School meals for schoolchildren delivered to schools at West Attica

1 4,000 schoolchildren, 344,000 meals, 160 schools at West Attica

description

2 Medical care and humanitarian aid extended to frontier islands of the Eastern Aegean

medical and humanitarian aid and psycho-social support to socially vulnerable groups – native and foreign – at Samos (phase 1)

3 Creation of an online educational and research platform on the Greek Revolution of 1821

creation of a digital historical archive of the Greek Revolution of 1821 to facilitate research and to develop educational tools

projects

4 Modernization of infrastructures in both auditoriums of the Karolos Koun Art Theatre (starts 01/03/2016)

support the ART THEATRE, in order to secure its smooth and effective operation in the forthcoming years

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Act4Greece

act4Greece

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Project: warm meals for schoolchildren delivered to schools at West Attica

«give €2.5 and offer a meal»

Pilot project: 4,000 schoolchildren, 160 schools at Perama, Attica

344,000 meals for 86 days in 2016 Total Budget: €860.000 NBG contribution: € 200.00

Target: €660.000

Act4Greece

act4Greece

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Project: Medical care and humanitarian aid at frontier islands of the Eastern Aegean

«support vulnerable people»

Medical care and humanitarian aid at frontier islands of the Eastern Aegean (phase 1: Samos island, phase 2: Kos and neighboringislands)

Phase 1 - Samos Island: provision of medicalcare, humanitarian aid and psycho-social support to vulnerable groups;mobile medical unit

Total budget: €136,736 Doctors of the World contribution: €7,000 Target: €129,736

Act4Greece

act4Greece

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Project: Creation of an online educational and research platform on the Greek Revolution of 1821

«be part of the history»

Creation of a digital historical archive on the Greek Revolution of 1821 to facilitate research and develop educational tools

Creation of research and educational tools and material;

support young scholars

Total budget: €125,000 RCH contribution: € 10,000 Target: € 115,000

act4Greece

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Project: Modernization of infrastructures in both auditoriums of the Karolos Koun Art Theatre

support the ART THEATRE, in order to secure its smooth and effective operation in the forthcoming years

«“Togetherness” is needed»

modernization of infrastructures and equipment with respect to critical gaps in the technical framework

Total budget: €108,176 Onassis Foundation contribution: € 54,100 Target: completed!

Act4Greece

act4Greece

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Next steps: a platform to support start-ups/scale-ups

Phase 1

Phase 2

Phase 3

•  Crowdfunding platform for CSR (donations)

•  Basic operation of payments – donations

•  Provision of lending operations

•  Provision of equity participation

•  Auctioning operations for lending and equity participation

act4Greece

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1 Offered transferable equity with a total value of less than 500,000€ per company per annum

2 Τhe participation of the private investor cannot exceed 5,000€ (or 10% of 3year income avg)

3 funds donation is carried out exclusively via electronic system

Exception from the publication of fact sheet obligation provided that info exists on electronic system

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System administrator (eg. Bank or broker co) obliged to notify the HCMC or BOG for their intention

Crowdfunding lending: draft Capital market committee specs

www.act4greece.gr