Crowdfunding In France: A New Revolution?

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Aurelie Sannajust
Fabien Roux
Anissa Chaibi

Keywords

Financial Innovation, Crowdfunding, SMEs, France

Abstract

In the last few years, small firms have had difficulties to finance their projects via the traditional bank system. A new type of financing has recently appeared in Europe and in particular in France: the crowdfunding. It is a method for funding a variety of new ventures, allowing individual founders of for-profit, cultural, or social projects to request funding from many individuals via Internet. Our paper contributes to the literature by introducing this financial innovation and building a theoretical framework to explain its success. We also discuss some more practical issues to enhance crowdfunding in France.

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