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People’s Tribute: Crowdfunding Innovation

KOROLEV HALL, October 17 10:00 — 11:15

The amount of funds raised by Russian crowdfunding platforms amounted to approximately RUB 11 bln by the end of 2017. At the same time, funds raised at the most popular global platform Kickstarter have already exceeded $3 billion, and the number of successfully completed projects on this platform amounts to over 126 thousand. Russian platforms raise funds mostly for social and cultural projects; users throughout Russia still ignore the opportunities of investing into hi-tech projects via crowdfunding platforms. In the meantime, the population of ICO is growing. However, ICO remain the prerogative of the part of the population that has at least a general idea of blockchain and cryptocurrencies, i.e. not the largest part of the population. Startups at the early stages of their development (seed, pre-seed) still experience a lack of financing that could be covered by the funds of the population acquainted with advanced technologies.
What hinders the prosperity of angel and crowdfunding investments in Russia?
Is crowdfunding a predictable development stage which all countries pass, or is it mentality-specific and should one look for another instrument?
Or is it the issue of platform marketing and everything that is needed is to bring knowledge about new investment opportunities to the whole population?