CROWDFUNDING SYSTEMS: evaluation and government regulation in the conditions of reengineering

fact that the project placement procedure is simple. However, project authors must make a lot of effort to successfully implement the project. An effective crowdfunding campaign requires time and significant human and financial resources. Entrepreneurs should research other campaigns aimed at raising money in similar sectors or geographical regions to understand what to expect. 2. Needs define the choice of platform. Entrepreneurs should be realistic about how much capital can be generated from specific platforms. Crowdfunding and crowdinvesting platforms, which typically allow for increased funding, are often not available in many developing markets. If an entrepreneur considers a certain instrument (debt or equity) to be effective and this instrument is not available in your country or region, they should consider alternative sources of financing. 3. A paid crowdfunding system affects the choice of platform. Leading international crowdfunding platforms often impose restrictions on who can launch campaigns, or use payment systems that are not used in developing countries. Local crowdfunding platforms are best suited for raising funds in developing countries, but they provide a much smaller number of potential participants and, as a result, the number of accumulated funds. However, do not underestimate them. An example is Nikweli, a startup that combines employers and job seekers, founded in 2014, and located in Dar es Salaam (Tanzania). The founder of the startup has dual citizenship, so she decided to use the American crowdfunding platform Kickstarter to finance the project. Since the founder published information about her campaign on social networks, she learned about local Tanzanians who wanted to support this campaign but did not meet the requirements of credit cards of the payment system that serves Kickstarter. Therefore, the founder posted information about the project on local crowdfunding platforms. 4. The quality of the crowdfunding project network is important. Entrepreneurs need to spend a significant amount of time creating a contact base that will attract the necessary capital and support the promotion of the campaign. Besides, entrepreneurs who can pre-raise funds from their own sources before the crowdfunding campaign starts are more likely to receive the necessary amount of funds. A good example of the importance of a personal network of contacts is the «Shake Your Power» campaign, which produces portable generators that use kinetic energy for reproduction and convert it into electricity for 120