| Abstract [eng] |
The lack of financial resources is one of the main obstacles to starting and implementing sustainable projects. The development of projects to reduce environmental impact can be encouraged through new forms of funding and greater involvement of citizens. Crowdfunding is becoming an alternative solution to attracting funds for the implementation of sustainable projects. Through crowdfunding platforms, sponsors fund individual companies and projects that might not be funded through traditional funding opportunities. According to N. Nigam et al. (2018: 195), crowdfunding is becoming a viable alternative to traditional financing, especially for small and medium-sized enterprises. The crowdfunding process usually involves three participants: sponsors, entrepreneurs and the platform. Crowdfunding helps to raise funds, build relationships, replicate successful experiences, access a large group of potential investors, attract other external investors, and overcome other challenges relating to raising the necessary funds. In 2019, the size of the crowdfunding market was 13.93 billion USD, and in 2026 it is projected to grow threefold to 39.7 billion USD (Statista, 2020). The following types of crowdfunding can be distinguished: donation-based crowdfunding, peer-to-peer lending, equity crowdfunding, reward-based crowdfunding, profit-sharing crowdfunding, debt-securities crowdfunding, and hybrid models. In Europe (excluding the UK), reward crowdfunding generated the largest transaction value in 2018. In the process of selecting a crowdfunding platform, it is recommended to pay attention to the following aspects: the size of the platform, the common values, the value-added services provided by the platform, the duration, the structure of the participants, and the sustainability of the platform. Focus of the research: crowdfunding. Aim of the research: after analysing the principles of crowdfunding, identifying the opportunities and challenges of crowdfunding as an alternative way of attracting necessary funds for the implementation of sustainable projects. Research methods: analysis of scientific literature, analysis of crowdfunding platforms for sustainable projects, statistical analysis. After analysing the possibilities of crowdfunding contributing to the implementation of sustainable projects, it can be stated that the developers of such projects may incur higher costs, because additional efforts are needed to present their value proposition and convince potential investors (Maehle, 2020: 281). In addition, more attention needs to be paid to building relationships with investors or sponsors, by explaining the potential risks of the project, and providing additional information. The social and psychological motivation of investors to contribute to the implementation of sustainable projects can be the same or even more important than the financial return. The analysis of crowdfunding platforms suitable for investing in sustainable projects has shown that suitable platforms could be: StartEngine, Citizenergy, Goteo.org, Kiva, GoFundMe, Kickstarter, and others. To sum up, crowdfunding is an acceptable way of investing in sustainable projects, supported by the growing value of sustainable project transactions each year, and by the growing number of successful projects. |
