Skip to main content

Abstract

The purpose of this study is the current globalization process of crowdfunding. The main theoretical approaches to defining the essence of crowdfunding are revealed, the main types of crowdfunding services are identified, the advantages of using this type of financing from the standpoint of each participant in the process are considered. The evolution of the development of crowdfunding platforms both at the global level and at the level of modern economic development of Ukraine has been studied. The leading foreign and domestic experience of functioning of the market of crowdfunding services is analyzed. Based on statistical data, its dynamic development in economically developed countries in the context of globalization is substantiated. The main directions of its development in the conditions of digital transformation of economy of Ukraine are offered.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 169.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 219.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  1. Massolution in their 2015 Crowdfunding Industry Report (2016). http://crowdexpert.com/crowdfunding-industry-statistics/

  2. Eliseeva, L.: Crowdfunding in Ukraine: problems and prospects in the context of foreign experience. In: Scientific Bulletin of the International Humanities University. Series: Economics and Management. vol. 23, no. 1, pp. 8–11 (2017)

    Google Scholar 

  3. Diamandis, P., Kotler, S.: Winner: How to Achieve Tremendous Success and Influence the World, vol. 253. K. Fund, Kyiv (2016)

    Google Scholar 

  4. Marchenko, O.: Crowdfunding: socio-economic content and types. Bull. Yaroslav Mudryi Natl. Law Univ. 4(15), 26–35 (2013)

    Google Scholar 

  5. Petrushenko, Y., Dudkin, O.: Crowdfunding as an innovative tool for financing projects for socio-economic development. Marketynh i menedzhment innovatsij 1, 41–45 (2014)

    Google Scholar 

  6. Howe, J.: Crowdsourcing Collective Intelligence as a Business Development Tool, p. 288. Al’pina Pablisher, Moscow (2012)

    Google Scholar 

  7. Manaenko, I., Didenko, A.: Crowdfunding as an innovative tool for business development (2017). https://www.google.com.ua/search?ei=H8wWWpyZMsnA6QTx-7DICA&q=MaHaCHKO

  8. Crowdfunding’s Potential for the Developing World, p. 103. World Bank, Washington, USA (2013)

    Google Scholar 

  9. Vasiliyev, O., Matjushhenko, S.: Crowdfunding is a modern instrument for financing the development of intellectual capital. Investments: practice and experience. Edition 18. 36W0. (2016)

    Google Scholar 

  10. Foresight management: formation and transformation adaptive business organizations: International collective monograph vol. 1, p. 270. Georgia, Tbilisi (2017)

    Google Scholar 

  11. Crowdfunding info and news site (2017). www.crowdexpert.com/crowdfunding-industry-statistics/

  12. Global Crowdfunding Market 2016–2020 (2018). https://crowdfundbeat.com/mobile/2016/02/03/report-elobal-crowdfunding-market-2016-2020/

  13. Global Crowdfunding Market 2017–2021 (2019). https://finance.vahoo.com/news/global-crowdfunding-market-2017-2021-182400851

  14. Project assistance site on Kickstarter.com in Ukraine. www.kickstart.com.ua

  15. Povod, T., Ostapenko, A.: Crowdfunding as a promising source of business financing. Eastern Eur. Econ. Bus. Manage. 5(16), 235–240 (2018)

    Google Scholar 

  16. Karelians, S.: Crowdfunding prospects: in the USA – the law, in Russia– fraud. Slon.ru. 3, 101–107 (2013)

    Google Scholar 

  17. Kickstarter. https://www.kickstarter.com/press?ref=hello

  18. Eliseeva, L.: Exponential development of crowdfunding as a tool tointensify innovation. Econ. Soc. 8 (2017). http://economyandsociety.in.ua/

  19. In 2018, Ukrainians raised over $ 2 million in crowdfunding. Here arethe 15 most successful projects (2018). https://ain.ua/2018/12/18/kraudfanding-ukrainy-2018/

  20. Shevchenko, O., Kazak, O.: Crowdfunding development in theconditions of digital transformation of Ukraine’s economy (2019). http://www.economy.nayka.com.ua/?op=1&z=6957

  21. Suprun, N.: Social entrepreneurship as a mechanism for building asolidarity economy. In: Proceedings of the International Symposium “Social andEconomic Solidarity - Ukrainian Choice”, pp. 36–38 (2016)

    Google Scholar 

  22. Tanklevska, N., Kyrylov, Yu., Zaitseva, O.: Management of conscious adaptive organizations in the conditions of social and economic transformations and financial turbulence. Sci. Bull. Polissya. ChNTU Ukraine 4 (12), 36–39 (2017)

    Google Scholar 

  23. Spilnokosht. https://biggggidea.com/projects/

  24. Trusova, N., Tanklevska, N., Prystemskiy, O., Hryvkivska, O., Advokatova, N.: Determinants of the development venture financing of the subjects of agrarian market of Ukraine. Asia Life Sciences. Asian Int. J. Life Sci. 21(1), 377–391 (2019)

    Google Scholar 

  25. Nikitenko, U., Gernego, Y.: Crowdfunding as a tool for attracting financial resources in Ukraine. Problems of development of small open economies: materials of speeches of the All-Ukrainian forum on problems of the international economic relations (in an online format), pp. 207–210. Zhytomyr, Ukraine (2018)

    Google Scholar 

  26. Petrenko, V., Karnaushenko, A.: Jont enterprises in foreign trade activity of Ukraine. Baltic J. Econ. Stud. 3(5), 203–207 (2017)

    Google Scholar 

  27. Tanklevska, N., Petrenko, V., Karnaushenko, A., Melnykova, K.: Worldcorn market: analysis, trends and prospects of its deep processing. Agric. Res. Econ. Int. Sci. E-J. 6(3), 96–111 (2020). https://are-journal.com/index.php/are/article/view/339. Accessed 21 June 2020

  28. Ihnatenko, M., Marmul, L., Petrenko, V., Karnaushenko, A., Levaieva L.: Innovative tools in the methodology and teaching of the basic principles of enterprise management. Int. J. Manage. 11(6), 847–854 (2020). https://doi.org/10.34218/ijm.11.6.2020.073

  29. Trusova N., Cherniavska T., Kyrylov Y., Hranovska V., Skrypnyk S., Borovik L.: Investment attractiveness of the economy of the World countries in the polystructural space of foreign direct investments. J. Adv. Res. Law Econ. 11(2), 645–660 (2020). https://journals.aserspublishing.eu/jarle/article/view/5132. Accessed 21 June 2020

  30. Borovets, L.: 5 ways to use crowdfunding for education (2018). https://ain.ua/2018/04/30/kraudfanding-dlya-osviti/

  31. Nassar, R.M.M., Battour, M.: The impact of marketing ethics on customer loyalty: a conceptual framework. Int. J. Bus. Ethics Gov. 3(2), 1–12 (2020)

    Google Scholar 

  32. Ali Saad, A.Z., Mohd. Noor, A.B., Sharofiddin, A.: Effect of applying total quality management in improving the performance of Al-Waqf of Albr societies in Saudi Arabia: a theoretical framework for “Deming’s Model””. Int. J. Bus. Ethics Gov. 3(2), 13–33 (2020)

    Google Scholar 

  33. Alremaidhi, Y., Hasan Saleh, A.O., Abdullah Othman, A.H.: Assessing the Relationship between the Economic Feasibility Study and the Guarantees Provided by Small and Medium Enterprises with the Financing Decisions in Kuwait. Int. J. Bus. Ethics Gov. 3(2), 34–54 (2020)

    Article  Google Scholar 

  34. Al Azemi, M.M., Al Omari, A.M., Al Omrani, T.: The role of islamic legitimacy basis to combat the financial corruption in Kuwait. Int. J. Bus. Ethics Gov. 3(2), 55–71 (2020)

    Google Scholar 

  35. Mokadem, W., Muwafak, B.M.: The difference of the theoretical approach of corporate social responsibility between the European Union and United States of America. Int. J. Bus. Ethics Gov. 3(1), 1–14 (2020)

    Article  Google Scholar 

  36. Alsuwaigh, M.A., Mohd Noor, A.B., Abdullah Othman, A.H.: The Importance of the Accounting Disclosure as a Mediator Factor between the Shareholders of the Cash Waqf in the Kingdom of Saudi Arabia: The Theory of Planned Behavior. Int. J. Bus. Ethics Gov. 3(1), 15–24 (2020)

    Article  Google Scholar 

  37. Mohammed Nasar, A.J., Hasan Saleh, A.O., Alhajri, F.M.F.S., Taoufiq, E.A.: Methods of financing waqf development in Singapore. Int. J. Bus. Ethics Gov. 3(1), 25–42 (2020)

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Nataliya Tanklevska .

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2021 The Author(s), under exclusive license to Springer Nature Switzerland AG

About this paper

Check for updates. Verify currency and authenticity via CrossMark

Cite this paper

Tanklevska, N., Povod, T., Ostapenko, A., Borovik, L. (2021). Crowdfunding Development Trends: Foreign Experience and Ukrainian Realities in the Digital Economy. In: Alareeni, B., Hamdan, A., Elgedawy, I. (eds) The Importance of New Technologies and Entrepreneurship in Business Development: In The Context of Economic Diversity in Developing Countries. ICBT 2020. Lecture Notes in Networks and Systems, vol 194. Springer, Cham. https://doi.org/10.1007/978-3-030-69221-6_69

Download citation

  • DOI: https://doi.org/10.1007/978-3-030-69221-6_69

  • Published:

  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-69220-9

  • Online ISBN: 978-3-030-69221-6

  • eBook Packages: EngineeringEngineering (R0)

Publish with us

Policies and ethics