Collective financing of innovation: current state and prospects of crowdfunding
Sergey Sedelnikov
(about the author)
Sedelnikov Sergey R. – Postgraduate, Chair of Finance and Credit, Department of Economics (A. S. Griboedov Institute of International Law and Economics, Moscow)
Keywords:classification of innovations, collective financing of innovations, crowdfunding, Indiegogo, innovation crowdfunding, innovations, Kickstarter, source of financing
Citation: Sergey Sedelnikov (2015). Collective financing of innovation: current state and prospects of crowdfunding. Creative Economy, 9(4), 495-508. doi: 10.18334/ce.9.4.207
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Abstract:
The article describes crowdfunding, a new type of financing for innovative projects, and gives some project examples. The author reviews the existing classifications of innovations, proposes new values for classification criterion – the type of financing, and analyzes the current state of collective financing based on statistics from the Kickstarter and Indiegogo sites. He introduces the concept of innovation crowdfunding.