Challenges and dynamics of FinTech crowd funding: An innovation system approach

FinTech crowd funding mechanism has gained popularity as an alternative of entrepreneurial financing worldwide. This paper reviews the challenges and dynamics of FinTech crowd funding platforms in the continents of USA, Europe and Asia. The case study analysis of Thailand, an emerging Asian country, under the policy direction of “Thailand 4.0” provides interesting results that can be applied to other developing economies with regard to start-up financing. The findings point out the barriers both at the policy and operation levels underlying the Thai entrepreneurial innovation system. The paper provides lessons and implications to strengthen the FinTech crowd funding platform.