Research on Urban Regeneration Projects using Crowdfunding: Focusing on the British Case

The development of the ICT (Information Communication Technology) industry, which has driven the Fourth Industrial Revolution, promotes the digitalization of network products. Additionally, new business models are continuously being created through convergence with e-commerce. Crowdfunding is an opportunity and means for business owners to promote their business to an unspecified number of people and secure funds. Unlike investment funds that are generally concentrated in businesses with a high probability of success, in crowdfunding, funds can only be secured when a consensus is formed about the business. Even in urban regeneration projects, crowdfunding is an effective way for business operators to publicize the project to an unspecified number of people and raise funds. In Korea, urban decline continues due to low birth rate and aging due to changes in business structure, increase in depopulated areas, and changes in social and economic conditions. In this situation, this study explores urban regeneration projects and crowdfunding to find ways to revitalize sustainable local communities in which various entities participate. This study aims to analyze the characteristics of crowdfunding, which are differentiated from traditional financing methods, the meaning of urban regeneration projects, and cases of overseas developed countries. Additionally, this study seeks to suggest ways to utilize crowdfunding in urban regeneration policy and its implications.