Scientific Essay from the year 2015 in the subject Business economics - Investment and Finance, grade: 1, 3, , language: English, abstract: In the light of the economic crisis, it has become increasingly difficult for ventures to raise a substantial capital through banks, venture capitalists and angel investors. The rise of the internet-based economy set the frame for the collective allocation of funds. In this paper, we address the question whether crowdfunding could and would substitute or complement traditional forms of financing for early-stage ventures. Inspired by the evolution of e-commerce, our hypothesis is that crowdfunding will become a relevant tool in the future. The goal of this paper is to facilitate managers' decision-making process about the use of crowdfunding. With the help of scientific literature and expert interviews, we found that, currently, crowdfunding can open the fast and wide access to capital, moreover, it helps building a network around the venture. However, it has so far not achieved to become more than a niche application. This is due to an insufficient regulatory framework and an equally small circle of users. Our work is not exhaustive. Further attention should be given to the dynamics and the actors in the crowdfunding system, as well as to legal aspects.