Authors: T.B. Zambalaeva, M.V. Ryzhkova, M.V. Chikov

Title of the article: Business schemes of crowdfunding platforms in providing financing for an innovative project

Year: 2019, Issue: 2, Pages: 70-83

Branch of knowledge: 08.00.05 Economics and Management of National Economy

Index UDK: 334.732.2

DOI: 10.26730/2587-5574-2019-2-70-83

Abstract: In the digital economy, crowdfunding is a new model of financing innovative projects, assuming a wide involvement of economic agents in fundraising directly. As a new phenomenon, crowdfunding requires an understanding of its business scheme. The purpose of the article is to describe the business schemes of crowdfunding technology in providing funding for innovative projects, as well as assessing the scale of activities of the two largest crowdfunding platforms - Kickstarter, IndieGoGo. Crowdfunding is considered as one of the types of investment sources. An assessment of geographical location of crowdfunding platforms as well as a description of their activities is given. The business scheme of a crowdfunding digital platform is described, namely the crowdfunding process and the progress of the crowdfunding campaign. The types of crowdfunding are analyzed and the reward options for sponsors are typed, the algorithm of the crowdfunding campaign and the financial scheme of the crowdfunding project are given. The mechanisms of operation and statistics for the two largest platforms, Kickstarter and IndieGoGo, are described. It is shown that fundraising for projects from the fields of multimedia (cinema, music, games), design, publishing and food is most successful. The specific of crowdfunding as a tool for financing innovation is shown. It was concluded that crowdfunding is able to drive back traditional financial institutions in financing the innovative projects in future.

Key words: crowdfunding crowdsourcing innovation business schemes crowdfunding project Kickstarter IndieGoGo

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