Titlebook: Advances in Crowdfunding; Research and Practic Rotem Shneor,Liang Zhao,Bjørn-Tore Flåten Book‘‘‘‘‘‘‘‘ 2020 The Editor(s) (if applicable) an

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https://doi.org/10.1007/978-3-662-11285-4em. Conditions of growing popularity of digital and mobile finance, low penetration of traditional financial institutions, and a long cultural heritage of communal mutual support may enhance crowdfunding uptake. On the other hand, conditions of unclear regulation, relatively low levels of internet a

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https://doi.org/10.1007/978-3-662-11285-4social hierarchies, low degree of separation, mandatory army service that enforces innovative thinking and improvisation, Chutzpah, and finally high tolerance for failure, all provide fertile ground for entrepreneurship and facilitate innovative approaches to entrepreneurship funding such as crowdfu

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https://doi.org/10.1007/978-3-662-11285-4. Fragmented markets, especially caused by differences in regulation, are an obstacle to growth of crowdfunding platforms. The European Union introduced the European Crowdfunding Service Provider (ECSP) Regime in 2019. This harmonized regime applies to crowdfunding platforms intermediating equity an

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https://doi.org/10.1007/978-94-015-9868-2 of economic development, the appropriateness of regulation, as well as the advancement of IT infrastructure are all key determinants for the development of crowdfunding markets. Finally, we conclude with a discussion of some implications for research and practice.