Crowdfunding and Crowdfunding: How Joint Funding Changes the Rules of the Game for Startups

Ayaulym Ayaganova, city — Astana, financier, co-founder and CEO of Acvee Finance, board member of TechnoWomen, head of the technical women’s entrepreneurship group, Instagram

Brief overview of terms

Crowdfunding is the attraction of funds “from the people” through various online platforms. Most often, in return, investors or donors receive either non-financial rewards, such as merchandise, early access to the product, mentions in credits, and so on, or symbolic bonuses without claims to a stake in the company.

Crowdinvesting is a more “substantial” form of crowdfunding, where investors acquire a stake in a startup or receive a convertible loan for their invested money; with successful business development, it can convert into shares. In some models, direct loans with interest are also practiced.

If crowdfunding is often associated with creative projects, public initiatives, and initial support for “informal” ideas, then crowdinvesting works with technological and business products aimed at growth and profit. However, for a startup, the difference lies only in the details: in both cases, you receive financial and marketing “fuel,” and the community gets the opportunity to support cool ideas or invest in a promising project.

Why startups should turn to crowdfunding

1. Early demand testing
   When you go to a crowd platform, you are not just looking for money. You are checking whether the market is ready to pay for your product. The campaign itself often turns into a large PR event, where every potential investment is also a signal of interest.
   
2. Flexible financing opportunities
   A startup can offer different models, such as a loan, convertible loan, and equity.
   This provides room for maneuver: if you do not want to give up equity immediately, you can choose a more “gentle” instrument.
   
3. Community expansion
   Crowdfunding is not just about raising funds, but also building a community of loyal supporters. These people can become the first buyers, brand ambassadors, and even a source of feedback. This “word-of-mouth” effect is hard to overestimate, especially in the early stages.
   
4. Additional validation for subsequent rounds
   If you successfully close a crowd round, you get a strong argument for future negotiations with funds and business angels. After all, there is already confirmation: people believed, people invested, which means the idea is “not makeshift.”

Perspectives in Central Asia

The Central Asian region is actively developing in the technological sphere. In recent years, IT hubs, co-working spaces, accelerators, and startup communities have appeared in the region, which were rare just five to six years ago.

1. Growing number of new ideas
   The youth of the region are increasingly oriented towards global technological trends, and local heroes are also emerging — projects that are going international.
   Crowd platforms focused on the region provide the opportunity to find the first customers and partners at the “prototype” stage.
   
2. Activation of local investors
   Family offices, business angels, and mini-funds in the region view crowdinvesting as an additional channel for finding startups. They are interested in diversifying portfolios and finding talents that are not always visible outside major cities.
   
3. Potential for entering international markets
   Successful campaigns in Central Asia often become a “springboard” for expansion into Russia, Europe, or the Middle Eastern markets. International crowd platforms are increasingly paying attention to the region, seeing interesting cases and untapped potential there.

Global results and forecasts:

— market growth: according to major analytical agencies, the total volume of crowdfunding will grow by 15-20% annually over the next three to five years. In developed countries, a culture of “chipping in for cool projects” has already formed, while in emerging markets, this process is just gaining momentum

— transition to professionalization: if crowdfunding was previously perceived as raising funds “bit by bit,” today structures closer to stock market mechanisms are emerging. SPVs, syndicates, and more complex legal structures are appearing, giving deals greater solidity

— wide industry coverage: on crowd platforms, funds are increasingly being raised not only for gadgets and IT services, but also for agricultural projects, industrial production, as well as green and social initiatives

— integration with venture funds: large venture funds use crowd rounds to “test” market interest in a product before making large investments. For startups, this is a chance to attract “smart money,” when there is already confirmed demand from the crowd community.

What startups should pay attention to

1. Legal aspects
   Study local legislation and the requirements of the chosen platform. In some cases, a simplified model is sufficient, while in others, a license or special permits may be required.
   
2. Project presentation
   Successful crowd campaigns are a clear story, high-quality visual content, and a clear pitch. An idea alone without a developed business model will not be successful, even on the most loyal platform.
   
3. Prepare for the post-campaign phase
   If you have raised money, the audience expects reporting, news, and possibly feedback on the product. Abandoning them “after the collection” is a mistake that undermines trust.
   
4. Flexible conditions for investors
   Offer several investment options, not just one universal instrument. Some prefer to acquire equity, while others prefer a simple loan with a fixed interest rate.

Conclusion

Crowdfunding is gradually becoming an integral part of the startup ecosystem, complementing traditional channels such as business angels and venture funds, and opening access to funding and audiences. In Central Asia, as in other regions with developing startup cultures, crowdinvesting and crowdfunding can become a catalyst for innovation, contribute to the creation of new technological clusters, and scale local projects onto the international stage.

For startups, this is a signal: the “gates” to the world of investments are no longer limited to classic venture funds. If your product really interests the audience, you can raise funds directly from hundreds and thousands of people. The main thing is to think through the strategy, take into account legal aspects, and offer clear value to everyone who invests in your future.