CROWDINVESTING AS A TOOL FOR ATTRACTING PROJECT FINANCING

The article discusses the features of crowdinvesting as a tool for attracting project financing; provides foreign experience in the implementation of innovative start-ups and the results achieved so far; analyzes the process of fundraising through crowdinvesting. The author considers the differences between crowdinvesting and classical financing instruments. It is concluded that the main differences are the lack of strict reporting standards, the possibility of direct interaction between investors and organizations that attract investments. The author gives a classification of crowdfunding (charitable, conditionally repayable, crowdinvesting, crowdlending). The main stages of crowdinvesting are also considered — the placement of the project on the crowdinvesting platform; verification of the placed project by a representative of the crowdinvesting platform; promotion of the project; investments; postinvesting. In the course of the study, the forms of attracting investments in crowdinvesting (direct ownership of shares; ownership through an intermediary; convertible loan or shares) were identified, as well as their features were considered in general terms. For the objectivity of the study, the author considers not only the advantages of crowdinvesting, but also its disadvantages, among which the main ones are expensive preparation of documents, high risks of fraud, limited funding, uncertainty of legislative regulation, etc. The article also discusses the features of the Russian crowdinvesting market, highlights limitations and problems hindering the development of this market in Russia. It is concluded that in order to minimize risks, it is necessary to comply with the principle of transparency, and its features are also considered. The author focuses on the fact that under the current conditions, the state should consider participants in the alternative financing market as full-fledged partners, and not just grant them support provided for by law. The best option, according to the author, is to amend the legislation on public-private partnership — it is proposed to supplement it with rules on the possibility of attracting finance to solve public problems through crowdfunding platforms.

crowdfunding, crowdfunding platform, crowdinvesting, financing, lending, start-up, investment project, investment, investment platforms, digital financial assets, public-private partnerships, foreign subjects

Zavertiaev A. A. Crowdinvesting as a tool for attracting project financing. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2023;3(64):274—278. DOI: 10.25683/VOLBI.2023.64.719.