Crowdfunding in sustainable innovation: Insights from and for Hungary

Katalin Erdős, Kaisa Johanna Matschoss, Juha Petteri Repo, Anita Tregner-Mlinaric

Research output: Book/ReportCommissioned reportProfessional

Abstract

The take up of innovative services and products has contributed to creative thinking also in terms of new sources of financing. Innovation processes are characterised by constant development, and it is beneficial if models of financing can be aligned to that. Crowdfunding, i.e. collecting finance from publics, has emerged as a new alternative also in the field of sustainable innovation. Crowdfunding is particularly interesting for Small and Medium size companies (SME’s) looking for financing when their product or service is not considered quite ready for investments. This policy brief looks how crowdfunding relates to sustainable innovation. It introduces crowdfunding as an activity, discusses it in relation to sustainable innovation and looks at the development of crowdfunding in Hungary. This policy brief looks at crowdfunding from several levels: a strategic, programmatic and case level. Concerning Hungary several measures are needed to enhance crowdfunding (CF). Idea owners should be precisely informed about the methods, advantages and disadvantages of crowdfunding, and trained or supported in the design of their crowdfunding campaign. Also the general public should be informed about the concept and methods of crowdfunding, and confidence in online payment should be increased as well.
Original languageEnglish
Publisher¨Public Participation in Developing a Common Framework for Assessment and Management of Sustainable Innovation, CASI
Publication statusPublished - 22 Dec 2015
MoE publication typeD4 Published development or research report or study

Fields of Science

  • 1172 Environmental sciences
  • 512 Business and Management
  • 511 Economics

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