Regions that join the Impact Multiplier consortium receive support for the implementation of the Impact Multiplier tool and share knowledge, experiences and best practices. The consortium also makes a joined effort to find funding for the start-up costs. The participating regions all have their own local partners.
A region first signs a Letter of Intent to indicate they are seriously interested. Next, regions and their partners participate in knowledge sharing sessions. Detailed information about the Impact Multiplier technology is shared and pre-conditions for a successful project are investigated and discussed. Once funding for the start-up costs is secured, the regions will have to make the final decision to start.
While cities and regions from the South and the West of Europe are connected to the Impact Multiplier, the consortium is still missing and welcomes regions from Scandinavian and Baltic countries, Eastern Europe, Ireland, and Scotland.
The province of Easter Flanders joined the consortium. The local cooperative bank is interested to support the project and now is evaluating if it has the human resource capacity to do so.
In Normandy the Rollon has started and the network of participating SMEs is growing. The Rollon already uses the Cyclos technology that enables the Impact Multiplier and therefore this is a perfect starting point. The regional government of Normandy budgeted 1 million euro to reward consumers with a 5% premium to spend their euros in the Rollon network. This will bring no less than 21 million Normandic euros into circulation! Youngsters between the age of 19 and 26 receive a free account and a small budget to experience buying in the region. Watch this humorous presentation of the Rollon.
The Greek region Karditsa joined the consortium. Its development agency ANKA is contacting various cities and business organizations in Greece to make a joined introduction of the Impact Multiplier. Local cooperative banks show interest to help with the execution of the project.
Sardex (Sardinia) with an experienced team and a large network of SMEs is also using Cyclos software. Sardex is preparing the introduction of a regional payment facility together with some Italian regions. Once the payment systems are implemented, these regions can include the Impact Multiplier. A first test is underway with the government of the Sardinian city, Sassari.
Barcelona has a long-standing interest to test new ways of improving the local economy and signed the LOI of the Impact Multiplier consortium. SMEs in the city have been hurt unbelievable hard by the lock down.
Other cities and regions in Spain are interested to multiply the impact of their expenditures and might join soon.