Summary

The project led to the establishment  of a totally new and innovative crowd-sourcing concept combined with a local financial intermediary: Åre Lokalkapital, which serves as an intermediate between entrepreneurs with new innovative ideas and possible funding actors both locally and globally. Through this innovative approach, more financial resources can on a continuous basis be invested locally in a LEADER region, whereby resources are mobilized regional-internally (from people in the area) and -externally. With stronger equity being inherent to a company, banks are also able to step in to boost the investment.

Results

Since 2014 the local financial intermediary Åre Lokalkapital AB has been active with 36 founding members.

Currently, the tool offers three options for investors: gifts, loans (often with interest in kind), and investments. Interest in kind to be paid to savers/ investors can be, for instance in the case of a spa, free access to spa-facilities.

The initiative has to prove itself worthy to sell support services to local business and/or to municipalities and regions.