How Crowdfunding Works in Romania?
How Crowdfunding Works in Romania?

Author(s): Mădălina Bălău
Subject(s): Economy
Published by: Editura Universitară Danubius
Keywords: Crowdfunding; social networks; marketing and business plan
Summary/Abstract: Crowdfunding is increasingly becoming a good solution for entrepreneurial ventures to obtain funds, being facilitated by internet and social networks, and it is also spreading in Romania as well. The current paper aims to explore this alternative for financing in Romania in order to understand better its evolution until now, whether if it is viewed as suitable for business as well, and to compare the advices offered for entrepreneurs in Romania versus those on famous crowdfunding sites such as Kick starter and Indiegogo. In order to achieve this we explored websites offering crowdfunding in Romania and the information they offer entrepreneurs, we identified the types of most successful campaigns and we compared advices offered to those existing on international websites, renowned for their success. The marketing strategy and the planning of the campaign seem to be essential for its success and this paper highlights in its conclusion some lessons Romanian entrepreneurs could learn from international crowdfunding campaigns and the growing scientific literature available on this subject.

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