October has been a eventful month for our team. Earlier this month we took part in a conference here in Iceland on funding opportunities for start-ups and innovative projects organised by our friends at Poppins and Partners. It was a duo for us, we participated as speakers and also organised a workshop later in the afternoon on crowdfunding. It is unbelievable how many qualified people and experts we have now in Iceland. Thanks for having us!
Later in the month we jumped on a airplane and flew over to Brusselles to attend the 7th ECN Crowdfunding Convention organized by the European Crowdfunding Network. It was a long, but interesting and rewarding day with industry peers, policymakers and stakeholders. Networking was fruitful as usual and belgian beer is as good as people have been telling us. We are looking forward to seeing how the regulatory framework for crowdfunding and crowdlending will move forward in Europe.
Lastly, in the end of the month we will speak at the opening on the new FinTech cluster here in Iceland. The Fintech Cluster is a membership association of companies and institutions related to fintech. This could be the beginning of something exciting!
In 2017 Karolina Engine was chosen as the best Fintech Startup
in Iceland by the Nordic Startup Awards. Earlier this month our CEO, Ingi Rafn
Sigurðsson, had the honor of handing over the title for 2018 to the awesome guys
working for Payday at an annual event held by the Innovation Center of Iceland.
Karolina Engine‘s experience of the Nordic Startup Awards in recent years has been great. In 2016 our company was chosen as the best Social Tech Startup in the Nordic Countries which led us all the way to Malaysia in 2017 where we competed for the Global Startup Awards.
Earlier this summer the Icelandic platform reached a remarkable milestone. Over 40,000 out of the 260,000 adults in the country have pledged to a project on the platform which are exceptional metrics in the industry. Furthermore, more than 4,000 creative projects have been funded in this small market.
It will be interesting to follow Karolina Fund in the following weeks and months as they have announced that there will be updates to the platform and new features added such as a an ability to optimize crowdfunding campaigns with a data driven approach.
Karolinafund.com is the leading crowdfunding platform in Iceland and the first user of the Karolina Engine technology. The platform boosts a 73 % success rate after operating for almost 6 years. Projects on the platform have among other things toppled a government, supported freedom of speech, helped the disabled and enabled the first Icelandic Circus to operate.
For the last two years Karolina Engine has collaborated with
the UCD Michael Smurfit Graduate Business School in Dublin, inviting a group of
students to our offices in Iceland to work on a analysis on our company and
instury as part an international consulting project.
The results have been interesting and helpful. We have gotten new and insteresting insights on our market, pricing, solutions, competitive strategy, target market and much more. Furthermore we got to know wonderful students and hopefully raise their interest in the world of crowfunding and alternative finance.
Are you interested in doing a research projcet or working on a analysis with us? Lets us know
We are back from the 3rd ECN Crowd Camp in the wonderful city of Bologna. We would like to thank all the speakers, sponsors, partners and participants for making this happen.
In the last few weeks we had been working hard on our newest civic crowdfunding platform. So it was well appreciated to be able to get away for few days, catch our breath, gain knowledge and inspiration from the leaders in the industry. We also participated in panels and got to discuss our unique story and experience in the world of fundraising and crowdsourcing.
Now we are back home in chilly Iceland with new insights on best practices in civic crowdfunding and match-funding, having heard many interesting stories and identified new opportunities. It was an enriching opportunity as well as we got to know so many of the wonderful participants.
We look forward to seeing you at an upcoming ECN events.