The Slovenian Conda is a part of the Austrian Conda (its subsidiary, and co-owner), which is already active in six European countries. The Slovenian platform which started operating in March of this year focuses on Slovenian companies. The first two projects have been announced, i.e. companies looking for support of people. In the period of half a year both are successfully financed, Conda explained for MMC. The first company, the Slovenian Sweet Speed Kickstarter company, with its product - energy booster chocolate, has already received EUR 33,000 from the planned 30,000 (the campaign will continue for one more month). The second company, Borza terjatev (Invoice exchange) has received EUR 80,300, namely 161% of the target amount. For the next year, Conda intends to increase the turnover (i.e. the amount collected by crowdfunding) from EUR 100,000 to EUR 800,000 through 15 campaigns, CEO Slovenia at Conda Vladimir Milošević explained.
Four more Slovenian projects are planned for this year, two to be launched directly to the platform. The first is a small ‘I like tofu’ company, developing different tastes of this type of food. The second is 54HC, a Kickstarter company from the ABC Accelerator, which optimized ordering of containers from Asia through the web. Presently a number of calls, e-mails, and a lot of clicking is required; they reduced it to one mouse click only, thus saving time and money, Milošević claims.
Two projects will be involved in a closed investment cycle, i.e. they will not be widely available at the platform, but the invitations will be extended to only a limited number of potential investors. JT Energy is building a factory for producing pallets from solid residue of olives in production of olive oil and "already has suppliers and buyers". The last place is taken by Archimedes Technology. According to Conda, the company has developed a driving system which doubles the efficiency of internal combustion engines, and is collecting money for applications for patents in 64 countries of the world.
Milošević, known also for his work in spreading crowdfunding through the ZMAG Institute, emphasized the difference between Conda and Kickstarter, as Conda's survey procedure of projects is much longer, and in-depth. Almost anybody can join Kickstarter, while Conda accepts only such companies which pass a thorough inspection and estimation of their business plan, and show potential for intensive growth. They must also have a developed product, and be in business, while Kickstarter deals mainly with prototypes. But there is also a specific characteristic: the recipients of the loan prepare prizes.
Above all, Conda is a blend of crowdfunding in the form of investments, and loans. All citizens of age can contribute from EUR 100 to EUR 5,000 to the project. But it is not a gift, but the company pays the money back within agreed time, usually in 5 years. In the meantime, the lender gets annual interest rates of 4.5%, but only when the company shows profit before EBITDA, and in the end a prize is given in proportion to the actual growth of the company. If everything turns out well, EUR 100 can turn into EUR 200, and result in the success of the financially supported company; the company can also count on the back up by a certain number of people, who buy its products, and wish the company well, Milošević explained.