28th Regime - manual for the Open call (till 30/9/2025)

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Let’s make steward-ownership visible in Europe

Dear steward-ownership community,
With just a few minutes of your time, you can help take Steward-ownership in Europe to the next level – either by giving short feedback or by completing the questionnaire of the public consultation on the 28th Regime.
The EU wants to know:

Is Steward-ownership just a niche topic, or is there broad demand?

This is where we need your voice!

You can respond in two ways: by filling in the questionnaire, or by submitting an open response.

Option 1: The questionnaire

Filling in the questionnaire is the most valuable. In total, there are 50 questions. You can choose which ones to answer and which to skip.
The most relevant questions in relation to steward-ownership are 1, 2, 30, 33, 34, 37, 48 – to ensure that the perspective of steward-ownership and non-exit-oriented start-ups is properly considered!

Question 30, about practical barriers to improving access to capital (for steward-owned companies, for example, standard share instruments that can be repurchased by the company).
Questions 33 and 34, about the possibility of issuing multiple share classes (for steward-owned companies this is important to separate control rights and economic ownership).
Question 37, about financing instruments (for steward-owned companies, in addition to the mentioned options, think of 'equity-like-debt' models without voting rights for investors).
And most important: question 48, about the need for steward-ownership.

If you are very short on time, focus on question 48 – it is the most important one. Please make sure you answer at least one or two more questions.

Go to the consultation website of the European Commission, scroll down a little and click on the yellow button “Respond to the questionnaire”. Log in with your eID (DigiD or eHerkenning), Facebook or Google account.

Option 2: Open response

If you choose to share an open response, you could, for example, explain why it is important that a simple choice for steward-ownership should become part of the legal form.

Background documents:

Our German partner Purpose has also created the following supporting documents:

Need support?

We are organizing 2 open online sessions where we can guide you through the response, give suggestions, and discuss the different perspectives you may want to include in your recommendations.
Join this open call (even 10 minutes is enough) on
• Monday 22/9 between 11-12am >> Link to call
• Friday 26/9 between 13-14pm >> Link to call

Just jump in.
Every entrepreneur, investor, or member organization can make a difference.

So, Together let’s make steward-ownership visible in Europe!

Peter Depauw