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Finance and Credit
 

A crowdfunding model for agricultural financing: Application features

Vol. 23, Iss. 42, NOVEMBER 2017

PDF  Article PDF Version

Received: 27 July 2017

Received in revised form: 21 September 2017

Accepted: 18 October 2017

Available online: 15 November 2017

Subject Heading: INVESTING

JEL Classification: Q14

Pages: 2523–2537

https://doi.org/10.24891/fc.23.42.2523

Filimonova N.G. Krasnoyarsk State Agrarian University (KrasSAU), Krasnoyarsk, Russian Federation
natali_f08@mail.ru

Ozerova M.G. Krasnoyarsk State Agrarian University (KrasSAU), Krasnoyarsk, Russian Federation
ozerova_m71@mail.ru

Ermakova I.N. Krasnoyarsk State Agrarian University (KrasSAU), Krasnoyarsk, Russian Federation
irena-erm@rambler.ru

Importance The article deals with the issues of crowdfunding as a modern financing instrument to attract resources and finance projects in the agricultural sector of economy.
Objectives The article aims to develop methodological recommendations for setting up a crowdfunding model for financing innovation and investment projects, taking into account the sectoral characteristics of agriculture.
Methods For the study, we used general scientific methods of analysis and synthesis, considering various statistical and analytical data from the crowdfunding platforms.
Results The article reveals the specificity of the crowdfunding model of financing in relation to the sectoral characteristics of agriculture and provides specific recommendations for the crowdfunding campaign to attract funds to rural-area business projects.
Conclusions and Relevance Crowdfunding, as a promising tool for financing innovation and investment projects in the agrarian field, requires consideration of sectoral characteristics of agriculture that condition the selection of a specific crowdfunding model and the crowdfunding campaign stages. The recommendations offered can be used by agricultural producers and other agrarian entrepreneurs when deciding on the choice of a crowdfunding model for financing investment and innovation projects.

Keywords: crowdfunding, crowdinvesting, crowdfunding platform, crowdfunding campaign, farming industry

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