- Promoters who wish to finance their projects by means of investment crowdfunding through Crowdfunding Bizkaia must register as Promoters.
- In order to be able to operate on the platform, Promoters must complete the information requested in this respect.
- Registration is free of charge.
- Those Promoters who wish to obtain financing through investment crowdfunding must send Crowdfunding Bizkaia all the information and documentation required in relation to their project.
- It is not necessary to complete or send all the information and documentation about the project in the same session. It can be saved and completed later.
- Crowdfunding Bizkaia uses the information and documentation sent by Promoter, solely and exclusively to carry out its activity, conserving it during the legally established period.
Four minimum requirements have been established for the publication of projects:
- That the company that applies for and receives the funding is an SME.
- That the company's address is located in Bizkaia, and the effective administrative management and direction of its business is centralized in Bizkaia.
- That the company is up to date with the payments of Social Security, Inland Revenue and payment of workers.
- The company is not a financial, real estate and/or marketing company.
Without prejudice to the foregoing, Crowdfunding Bizkaia reserves the right to publish projects that, taking into account their potential, comply with the following requirements:
- The participation and economic implication of the promoter partners.
- The quality and technical capacity of the management team.
- The potential generation of employment and wealth in Bizkaia.
- The degree of innovation in processes, services and/or products.
- The company's growth potential.
- Competitive advantages over the competitors.
- Feasibility of the business plan.
- Crowdfunding Bizkaia carries out an economic and financial analysis of the projects, and advises and/or makes recommendations to the Promoters on their content, the amount of funding requested, or any other issue related to the projects.
- Crowdfunding Bizkaia assumes the commitment to carry out the validation process, this implies making a decision on the publication of projects, as quickly as possible. It also undertakes to take a decision within ten (10) working days from the date on which the Promoter has made available to Crowdfunding Bizkaia all the information and documentation requested.
- Crowdfunding Bizkaia will communicate to the Promoters the result of the project selection process by e-mail (whether or not it has been selected for publication).
- Once the project has successfully passed the selection process, the Crowdfunding Bizkaia team works together with the Promoters, offering the necessary accompaniment and advice.
Publication of projects
- After publication of the project, the project will remain active on the platform for a maximum period of fifty (50) calendar days, unless the funding objective is achieved earlier.
- Once published, the project cannot be modified.
- In the event that fifty (50) days have elapsed since the opening of the financing round without at least 100% of the financing requested having been reached, Crowdfunding Bizkaia reserves the right to extend this period by 25% in order to complete the funding target.
- In case that 100% of the requested financing is not reached within the period (including the extension mentioned in the previous paragraph), Crowdfunding Bizkaia reserves the right to grant the financing provided that at least 90% of the funding target is reached, once deducted the shares that the Crowdfunding Bizkaia platform itself may have in the project.
- After the formalization of the investment, the Promoters assume the commitment to send to the investors, the information related to the evolution of the project.
- In the event that those promoting the project do not comply with this obligation, Crowdfunding Bizkaia does not assume any obligation in relation to the transmission of said information, nor to the veracity and/or accuracy of the same.
- In the case that Crowdfunding Bizkaia ceases its activities, it undertakes to keep the communication channel open between investors and promoters related to the projects successfully closed for the legally established period of time.