The City of Munich is the very first municipality in Germany to launch a crowdfunding program with a special funding program. This program is intended to support both founders in creating their campaigns and the cultural and creative industries in the state capital.
Specifically, funding with a dual effect is being implemented: Founders receive a grant of up to €3,000 for creative services necessary to implement a crowdfunding campaign. This funding, in turn, is linked to contracts for the local cultural and creative industries.
What crowdfunding is intended to achieve
The Head of the Department of Labor and Economic Affairs, Mayor Joseph Schmid explained:
"With this new program, we are supporting an innovative financing and marketing tool that is becoming increasingly important for founders. The new funding program is also intended to contribute to better networking between the startup and creative communities."
The funding is intended to support financing in the early stages of a startup. Professional preparation is crucial for the success of a crowdfunding campaign. However, external support is often required to create good videos, texts, a logo, or a social media strategy. Many project starters lack the financial resources for this. This is precisely where the new municipal crowdfunding funding program comes in.
The funding program is part of the crowdfunding strategy of the Department of Labor and Economic Development and was developed in collaboration with the city's Cultural and Creative Industries Competence Team. And it remains exciting: A complementary offering combining crowdfunding with traditional startup financing is planned for later this year.
Further information on the crowdfunding program of the City of Munich is available online.
