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The Evolution of a Social Service Crowdfunding Platform Towards an Investing Logic: The Meridonare Case Study

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Social Impact Investing Beyond the SIB

Part of the book series: Palgrave Studies in Impact Finance ((SIF))

Abstract

This study aims to configure an innovative financial structure for social impact investments. Framing on the Theory of Change, we apply an exploratory analysis to the Meridonare case study, a donation/reward crowdfunding platform led by the Banco di Napoli Foundation and engaging in philanthropy in the social sector. Over the years, the platform has changed the Foundation’s resource allocation procedures through the adoption of an “impact model” evaluation process. Accordingly, for each financing request, Meridonare defines a social evaluation report allowing the Foundation to establish which projects are worthy of additional funds as rewards. However, in its current state, the Meridonare crowdfunding platform lacks the investing perspective, thus we propose an innovative instrument of Social Finance: the Social Bond Crowdfunding based (SBCb), arising from the “pay-for-performance” rewarding mechanism. Therefore, the role of the Foundation shifts from impact facilitator to impact generator.

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Notes

  1. 1.

    Fixed remuneration is an element of diversity compared to the standard scheme of a Social Impact Bond (SIB). However, as will be seen later, the proposed scheme retains the peculiarities of the “pay for success” mechanism.

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Authors and Affiliations

  1. University of Salerno, Fisciano, Italy

    Carmen Gallucci

  2. University of Molise, Campobasso, Italy

    Michele Modina & Antonio Minguzzi

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  1. Carmen Gallucci
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  2. Michele Modina
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Correspondence to Carmen Gallucci .

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Editors and Affiliations

  1. University of Rome “La Sapienza”, Rome, Italy

    Mario La Torre

  2. School of Management, Politecnico di Milano, Milan, Milano, Italy

    Mario Calderini

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Gallucci, C., Modina, M., Minguzzi, A. (2018). The Evolution of a Social Service Crowdfunding Platform Towards an Investing Logic: The Meridonare Case Study. In: La Torre, M., Calderini, M. (eds) Social Impact Investing Beyond the SIB. Palgrave Studies in Impact Finance. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-78322-2_6

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