Mechanism of introduction of venture philantropy in countries with the initial level of philantropy culture development (on the example of Ukraine)

Iryna Tkachuk

E-Forum Working Papers, 2020, vol. 10, issue 4, 145-153

Abstract: The aim of the study is to propose a mechanism for introducing venture philanthropy in countries with an initial level of development of charitable culture, using the example of Ukraine. A set of general scientific and special research methods, including logical generalization and systematization (to justify the use of crowdfunding approach for projects that have not passed the initial competitive selection in the organization of social impact) were used to solve the problem. The article substantiates the importance of applying a venture approach to charity as one that helps to solve the causes of existing problems in society. The mechanism of venture philanthropy of European Venture Philanthropy Association (EVPA) is presented and described. It provides close interaction of investors for impact, social impact organization and beneficiaries. As there is the initial stage of development of venture philanthropy in Ukraine, it is proposed to introduce it in combination with a crowdfunding approach. Such a mechanism will contribute not only to the faster introduction of venture philanthropy into charity practice, but also to a significant increase of the social responsibility of NGOs and citizens involved in the processes. The originality of scientific research. It is the first time in Ukrainian practice when the peculiarities of venture philanthropy in Ukraine were investigated from a scientific point of view and it was proposed to use its flexibility to improve the charity process and increase the level of philanthropy culture in Ukraine. This can be achieved through a combination of venture and crowdfunding approaches to charity

Keywords: social responsibility; venture philanthropy; non-governmental organizations (NGOs); social impact organization; investor for impact; civil society; crowdfunding (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:cuc:eforum:v:10:y:2020:i:4:p:145-153

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