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Title

The Impact Of Crowdfunding On The Innovation Process In The Conditions Of Ukraine’s Economy Digital Transformation

Author

Oksana Karpenko, Tetiana Semenchuk, Yevheniia Osypova, Nataliia Pakhota

Citation

Vol. 22  No. 1  pp. 702-708

Abstract

Crowdfunding is an innovative tool for financing projects in the digital economy. The main concepts and types of crowdfunding are considered. Characteristics of the most successful crowdfunding foreign and Ukrainian platforms are given. The main characteristics of the crowdfunding platforms for the choice of the platform during the implementation of the investment decision are formulated considering its specific features in the conditions of digital transformation in Ukraine. Based on a comprehensive analysis of crowdfunding market dynamics in the world Ukraine revealed specific features of its operation compared with other countries. The perspectives and problems for the use of crowdfunding in Ukraine on the basis of foreign experience and the participation in world-wide crowdfunding platforms are defined. It has been found that Ukrainian projects are predominantly social in nature, while technological innovations and just for fun are more valued abroad. The advantages and disadvantages of crowdfunding as a tool for financing innovation process are summarized, as well as the prospects for its development in Ukraine. Functioning mechanism of crowdfunding is proposed. Its implementation will contribute to the efficient functioning of crowdfunding as a tool for financing digital economy projects in Ukraine.

Keywords

crowdfunding, crowdfunding platforms, digital economy, innovation process, market of crowdfunding.

URL

http://paper.ijcsns.org/07_book/202201/20220192.pdf