Designing a crowdfunding model in the aviation industry

Subject Areas : Financial engineering

Ali Haji Gholam Saryazdi ¹ , Manuchehr Manteghi ²

1 - Management, Management Faculty, Imam Javad University College, Yazd, Iran
2 - Management, Management Faculty, Maleke Ashtar University, Tehran, Iran

Received: 2021-10-02 Accepted : 2021-11-21 Published : 2022-06-22

Keywords: Stakeholders, Aviation Industry, components, Crowdfinding, Group Interview,

Abstract :

The aviation industry is one of the strategic, technology-based, and capital-seeking industries. One of the most important challenges in this industry is proper financing. On the other hand, crowdfunding is one of the new methods of financing, which is based on Web 2. It has expanded today in various fields, including business and technology. However, due to its characteristics, this method requires proper design and adaptation to the intended industry to be implemented in a specific industry, so this article seeks to design a crowdfunding model in the aerospace industry. To design an appropriate model, first, a systematic review of the literature and empirical studies of crowdfunding platforms in the world and Iran was used, and then using semi-structured in-depth group interviews with experts to accurately determine stakeholders, models, and components of crowdfunding in The field of aerospace industry was addressed and the final model of mass financing for the aviation industry was designed. Findings showed that the crowdfunding model in the aviation industry has 5 stakeholders including platforms and social networks, founders, investors (funders), financial institutions, and legal and regulatory institutions. The components are involved in crowdfunding include law, project, campaign, benefits, communication, proximity, dissemination, and credibility.