Chapter 15: Crowdfunding and sustainable enterprises in developing markets
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This chapter explores the role crowdfunding plays in the emergence of sustainable enterprises in developing markets. The chapter sets out with an exploration of the nature of crowdfunding and sustainable enterprises in developing markets. Five main crowdfunding mechanisms are observed in developing markets. Sustainable enterprises are observed as those businesses that move beyond the economic value to include social value. These are equity-based, debt-based, donation-based, reward-based and royalty-based crowdfunding. These are further integrated to achieve the objectives of this chapter. Stringent financing mechanisms force entrepreneurs to emphasize economic value over social value. Consequently, crowdfunding as alternative financing arrangement enables entrepreneurs to integrate both economic and social value to create sustainable enterprises.

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