Crowdfunding is growing fast as the practice of financing a project or venture by raising monetary contributions from a large number of people, today often performed via internet-mediated registries. Although Crowdfunding is a form of alternative fina...
Crowdfunding is growing fast as the practice of financing a project or venture by raising monetary contributions from a large number of people, today often performed via internet-mediated registries. Although Crowdfunding is a form of alternative finance for development projects, there has not been much efforts to academically assess the applicability in the circle of development in Korea. This paper is designed to fill the gap by desk-reviewing existing platforms, conducting interviews and the assessing the possibility of adopting in Korea, especially from the angle of the partnership between public and private sectors. In conclusion, three types of crowdfunding Platform for international development project are suggested such as 1) the platform managed by civil society driven platform, 3) partnering with existing portal sites, and 3) partnering with existing crowd-funding sites. Well-prepared crowdfunding system will play a positive role in international development cooperation, by enlarging the pool of development financing sources, increasing the awareness of development projects, and strengthening the membership of each individual to promote partnership.