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Finance and Credit
 

Modern models of startup financing

Vol. 23, Iss. 6, FEBRUARY 2017

PDF  Article PDF Version

Received: 22 December 2016

Received in revised form: 11 January 2017

Accepted: 25 January 2017

Available online: 17 February 2017

Subject Heading: INVESTING

JEL Classification: G31, O30

Pages: 341-352

https://doi.org/10.24891/fc.23.6.341

Evdokimova S.S. Volgograd State University, Volgograd, Russian Federation
evdokimovalana@mail.ru

Kobyshev M.S. Institute of World Economy and Finance of Volgograd State University, Volgograd, Russian Federation
kmaxim95@rambler.ru

Subject The article considers the major models of startup financing applied in the Russian practice.
Objectives The objectives of the study include researching the models of startup funding used by Russian enterprises and the venture investment market in the Russian Federation; highlighting the specifics of fund attraction from various sources; assessing the practice of applying various models of startup financing in Russia; identifying perspective sources of investment for startups.
Methods Using the methods of formal logic, analysis and comparison, we described the mechanism of Russian startup funding.
Results We considered the specifics of the Russian market of venture capital investments, revealed ins and outs of various methods of startup financing, their benefits and shortcomings in modern economic conditions.
Conclusions and Relevance Traditional methods of financing, like commercial loans, own financing, etc., are replaced by innovative models with favorable terms of investment attraction and a focus on long-term development of companies driven by direct interest of investors in their performance results.

Keywords: startup, venture fund, business angel, business incubator, сrowdfunding, сrowdinvesting

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