Energy and Transport in the Crowd Economy
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Innovation through Crowdsourcing and Crowdfunding. Does Transport have a change to sustain its development through the social capital engagement and the crowd economy?
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Energy and Transport in the Crowd Economy
- 1. Innovation through crowdsourcing and crowdfunding Does Transport have a change to sustain its development through the social capital engagement and the crowd economy? Walter Vassallo, 2016
- 2. Presentation flow • Research objectives • Background • Methodology • Key aspects • Conclusions
- 4. The context
- 5. METHODOLOGY Crowdcapital Crowdsourcing Lean startup Open InnovationPolicy Crowdfunding Platforms Environmental sector Regulation Transport?
- 6. THE 3rd INDUSTRIAL REVOLUTION
- 8. THE CHANGE OF PARADIGM
- 11. THE CROWD ECONOMY Opportunities for all: • Enterprises • Multinationals • Governments • Research • No profit Opportunites and innovation Crowdsourcing Crowdfunding Collective intelligence
- 12. CROWDSOURCING Is the crowd wise? The theory of crowd capital Content IT Structure Processing Location The Call Size and Quality Problem solved Ideas Created Knowhow enhanced
- 13. Principles of crowdsourcing applied to a lean startup strategy: • Entrepreneurs empowered with crowds - do more with less • Iterate fast and cheaply • Engaged community at every stage • Access to new ideas and perspectives • Direct access to emerging trends • Exposure to new partners and collaborators LEAN METHODOLOGY
- 14. Stakeholders partecipation is a key • Adopting a mission to create and sustain social value (not just private value); • Recognizing and relentlessly pursuing new opportunities to serve that mission; • Engaging in the process of continuous innovation, adaptation, and learning; • Acting boldly without being limited by resources currently in hand; • Exhibiting a heightened sense of accountability to the constituencies served and for the outcomes created. OPEN INNOVATION
- 15. From proprietas to usus Social innovation as key driver • Smart growth (fostering knowledge, innovation, education and digital society), • Sustainable growth (making production more resource- efficient while boosting competitiveness) • Inclusive growth (raising participation in the labour market, acquisition of skills and fight against poverty) remain until 2050 the leitmotifs of EU policies. SHARING ECONOMY AND EC POLICY
- 16. • $16 billion crowdfunded in 2014, with 2015 estimated to grow to over $34 billion. It was $880 million in 2010... • More than Venture Capital (average $30 billion year). • It is not just an alternative financing model! • Testing product/service, marketing and validation tool • In any kind of typology of CF, Community is a key • Any kind of project, any phase of a project, in any kind of sector, for any kind of budget, from any kind of proposer CAN BE FUNDED CROWDFUNDING
- 18. North America: funding volume of $9.46 billion with the 145% growth rate. Asia 320% growth rate by the amount of $3.4 billion Europe $3.26 billion funding size with the 141% growth rate. South America, Oceania and Africa are 167%, 59% and 101%, respectively. FUNDING VOLUMES 2014
- 20. COMPARISONS ACROSS TYPES OF CROWDFUNDER
- 21. THE USAGE
- 22. COMPARISONS ACROSS SECTORS Saturation and quality Average success rate for all projects is 37% on Kickstarter in 2014 (horizontal platform)
- 23. HORIZONTAL vs VERTICAL PLATFORMS Any kind of sector saw the creation of a vertical Crowdfunding Platform. But not the transport. Why? Timing . Not because of lack of matching between the sector and Crowdfunding/Crowdsourcing ‘environment’
- 24. THE ENERGY A good example to show the opportunities for Transport Why the Energy? Because it is the closest to transport for characteristics and the more recent ‘entry’ sector using crowdfunding
- 25. THE ENERGY USA Germany United Kingdom Netherlands France Switzerland Portugal Italy Finland Sweden India Activeplatforms 8 6 5 4 3 1 1 - - - 1 Forthcomingplatforms 1 1 3 - 3 - - 2 1 1 - Country Numberof projects Moneyraised€ Averageraised perproject€ Averagereturns bycountry Numberof platforms France 23 1,691,990 73,565 4.21% 3 Germany 87 11,148,740 128,146 5.53% 6 USA 98 12,406,537 126,597 6.29% 8 Netherland 49 20,364,614 415,604 5.58% 4 UnitedKingdom 121 118,234,845 977,147 7.36% 5 80% financing/investing platform, 20% non financial models. €165millions since 2012
- 26. THE ENERGY • Very high successful rate (average >80%) • No difference in success rate from non financial and financial models (the only difference is the amount) • Projects main focus: clean energy, renewable energy • Clear environmental and social mission • Strong focus on community (community based projects) = participation, ‘social’ engagement • Offer very homogenous and replicable projects = meaning new opportunities
- 28. THE ENERGY • €165millions since 2012, which accounts for only 0,75% of the crowdfunding funding volume cumulated Worldwide over the same period of time- • Despite being a still quite small market, the size of energy crowdfunding campaigns is almost double than the average wider worldwide crowdfunding. And this pattern is consistent across all models.
- 29. THE TRANSPORT – Case Studies No vertical crowdfunding platforms Crowdsourcing and crowdfunding are not used Few cases only. Selected two in Italy: • TocTocBox: peer to peer logistics 96.000 euro crowdfunded (overfunding amounting at 120%) • Kiunsys: urban transport 505.000 euro crowdfunded (min was 375.000 euro for 10% equity)
- 30. TOCTOCBOX BlaBlaCar model applied to small packaging transport • Perfect long tail ‘fitting’ • Sharing economy • A growing market (e.g. courier small packaging growing from ecommerce) • A strong community focus • Social and environmental sustainable • Sustainable financial plans
- 31. Break-even 1rd quarter 2nd year
- 32. KIUNSYS One stop solution for management and analytics of mobility in cities of any size • Smart Urban Mobility • Smart Parking • City logistics
- 33. KIUNSYS • The amount collected represents 1/6 of the total funds derived from all the Italian equity crowdfunding platforms. • More than 25 cities in Italy relies now on Kiunsys.
- 34. CONCLUSIONS • Great opportunities for transport. Learn from env. sector • Focus on community based projects helps (e.g. Smart city projects) • A social environmental dimension strenghthen engagement • Fertile ground for P2P and sharing based projects • Key to ensure the 5’Ps of the crowd are satisfied • Gain knowhow capital from users in all phases
- 35. CONCLUSIONS • Develop a Vertical platform with high added value services (crowdsorcing, crowdintelligence, etc) • Do expect similar success rate from different types of Crowdfunding (the difference will be the amount collected) • Do expect involvement from different stakeholders, meaning different types of backers, proposers, projects • Not only money but a sustainable development of the entire socio-economic environment which generates smart growth, inclusion, partecipation.