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

INTRODUCTION Modern globalization processes and competitive environment make it necessary to direct the Ukrainian economy to an innovative development path, and it requires significant financial resources. Without the use of the latest tools of the financial and investment system, it is impossible to improve the state of entrepreneur activity and to implement innovative social and business projects in modern economic realities. In developed countries, crowdfunding has already established itself as an innovative high-tech financial tool for accumulating funds to implement projects (including reengineering) and support startups. This method of financing has several advantages, however, its application on the territory of Ukraine is limited due to certain technological, economic, social, and other barriers. The existence of these problematic aspects determines the need for a detailed study of the concept of «crowdfunding», its features and conditions of application. The problem of a low level of entrepreneurial and innovative activity is becoming urgent in the conditions of instability and imperfection of the Ukrainian financial market, limited and significant cost of financial resources for enterprises and entrepreneurs (for the implementation of reengineering projects, too). All this determines the significance and relevance of the development of theoretical, methodological, and applied foundations for the evaluation and state regulation of crowdfunding in the conditions of reengineering. In Ukrainian science, research on crowdfunding and its features just started, so it actualizes its research interest. Many scientists have paid attention to topical issues of fundraising and crowdfunding (for the implementation of reengineering projects, too). The main scientific achievements in this area are the development of the concept of «crowdfunding», the disclosure of the methodology for forming a crowdfunding project, and the procedure for its placement on crowdfunding platforms, identification of problems in the development of this financial instrument, etc. Despite the achievements of scientists in this area, some topical issues on this point have not yet been resolved. In particular, the typology of 5