The Crowdfunding Ecosystem as a Catalyst for Social Impact: A Comparative Case Study of Social Projects in Morocco

Khtiar, Hajar and Benhida, Zakia (2025) The Crowdfunding Ecosystem as a Catalyst for Social Impact: A Comparative Case Study of Social Projects in Morocco. ACTA PERIODICA (EDUTUS), 2 (A/2). pp. 4-21. ISSN 2063-501X

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Abstract

This research investigates the nascent crowdfunding ecosystem in Morocco and its influence on social initiatives. Social entrepreneurship is acknowledged as a catalyst for sustainable development, however access to financing constitutes a primary obstacle particularly in emerging economies. Crowdfunding offers a novel funding mechanism, yet its efficacy hinges on the interplay among ecosystem stakeholders and contextual elements. Using a qualitative comparative case study, we analyze two Moroccan projects: the successful “Douar Shemsy” project, which funded the construction of an eco-village for orphans, and the unsuccessful „Une Goutte d’Espoir 2” initiative, which sought to provide water access to a remote village. Through an analysis of these cases employing information asymmetry theory, and the ecosystem framework, this study elucidates the principal factors underpinning success of social projects in the Moroccan context. The core findings demonstrate that, although Law 15-18 regulatory framework has legitimized the sector, success is primarily shaped by the mobilization of social capital, the conveyance of distinct quality signals, and the discursive framing of the project, particularly amid crisis. The study offers recommendations for social entrepreneurs and policymakers to strengthen the crowdfunding ecosystem and enhance social impact in Morocco.

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