Crowdfunding: A new Era of Fundraising. The case of Morocco.

Abstract

Financing a project in its seed phase has always been a hurdle for entrepreneurs, as they cannot secure funds using conventional methods because of their lack of creditworthiness proof or project success guarantee. Therefore, crowdfunding started to evolve as more entrepreneurs began to make a call for public generosity to help them finance their ideas and initiatives. The current study focuses on the Moroccan framework. It aims to explore the potential of participatory financing in Moroccan kingdom and to identify the factors that support or hinder its evolution. We conducted interviews with various Moroccan entrepreneurs who have opted for one of the two financing options to analyze their experiences and thus conclude the drivers and barriers of crowdfunding in Morocco. The findings of our study show that crowdfunding has potential in Moroccan framework since the barriers mentioned in the literature have become opportunities. In other words, in the last few years, Morocco has been working on the evolution of this mode of financing and its results have already manifested: The new law n°15.18 and the authorization of electronic payment. And we can assume that from now on, more actions will be taken.