Non-equity Crowdfunding as a National Phenomenon in a Global Industry: The Case of Russia

Evgeny Torkanovskiy ()
Additional contact information
Evgeny Torkanovskiy: Russian Academy of Sciences

A chapter in Crowdfunding in Europe, 2016, pp 115-123 from Springer

Abstract: Abstract Venture capitalists and entrepreneurs all over the world have tried to imitate the success of Kickstarter, Indiegogo and other crowdfunding platforms. Russia has followed suit with the emergence of local platforms for raising capital online in 2010–2013. The moving forces behind this were an eagerness to copy a successful business model, existing language and legislative barriers and the potential capability to raise capital from strangers from afar that might be very important in such a vast country as Russia. However, given the performance of Russian platforms for non-equity-based crowdfunding it is evident that the success of local platforms largely depends on the characteristics of the national market and competition from international platforms. We provide a preliminary exploration of the underlying economics of Russian crowdfunding and its relationship with the international crowdfunding community. We offer a framework for speculating on how crowdfunding may unfold at national level and what the required conditions for its local development might be.

Keywords: Crowdfunding; Non-equity; Fundraising; Russia; National platform; Planeta; Boomstarter (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations: View citations in EconPapers (3)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:fgfchp:978-3-319-18017-5_8

Ordering information: This item can be ordered from
http://www.springer.com/9783319180175

DOI: 10.1007/978-3-319-18017-5_8

Access Statistics for this chapter

More chapters in FGF Studies in Small Business and Entrepreneurship from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().