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Crowdfunding: An innovative approach to start up with entrepreneurship
conference contributionposted on 24.05.2018, 00:00 authored by MK Khan, X Zhao, U Akram, M Hashim, Ahmad KaleemAhmad Kaleem
© Springer Science+Business Media Singapore 2017. It is beyond any doubt that getting finance at eve of establishing the creative projects or entrepreneurial businesses is most difficult task. Creator may face difficulty, or failure sometimes, in gathering finance due to lack of relationships with venture capitalists or banks due to lack of sound financial track record or pledge. This paper is to introduce and explain the model of a new form of financing, crowdfunding (CF) for entrepreneurs or project initiator. This research suggests that the field is fragmented and undeveloped. It explains the distinct features and the key players of CF. Crowdfunding—a mechanism, by which an innovative or patronage idea may get into reality by gathering funds from a large number of people through internet, may prove the problem solver for entrepreneurs or creators who don’t have enough resources for their dream. Research has also shown business models of crowdfunding and different sources of funding. Based on the available empirical data, we have studied how it can be helpful for capital deficit units and what are its advantages and disadvantages from founder, funder and platform’s prospective.