In developing countries, the topic of crowdfunding is still in its
infancy because Europe; Asia and North America have monopolized almost all the
researchers’ attention. Nevertheless, the number of scholars stressing the fact
that investigations should be conducted on the economic impact of crowdfunding
in developing countries where financial systems are still struggling is incredibly increasing. But before getting to that point, as Gajda and Walton
stated, “An analysis of primary and secondary data; in-depth assessment of live
projects and statistical analysis could provide more insight (…) how to make
crowdfunding more accessible to entrepreneurs in the developing world” (Gajda & Walton, 2013: p.
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