Authors: Paraskevi Boufounou

Title: Crowdfunding in Greek Economic Crisis : Lessons Learned

Abstract

Innovative Finance for Development Mechanisms as defined by World Bank (2009) depart from traditional approaches by mobilizing development finance involving non-traditional methods that support fundraising by tapping new sources and engaging investors beyond the financial dimension of transactions as partners and stakeholders in development. This paper presents and critically evaluates the efficiency and effectiveness of the introduction of crowdfunding as an IFD Mechanism, in the environment of the recent Greek economic crisis. Also, reviewing the international experience, assesses potential challenges and prospects for the future.