Abstract: The aim of the research is to discover nontraditional sources of financing economic entities that need funds at the initial stage of their functioning and thus to contribute to advanced development economy in the Russian Federation. The authors propose crowdinvesting to be one of such financial sources. The methodological basis of the research includes the theory of financies and problem-oriented approach that takes into account peculiar difficulties of financing search at the stage of start-up for economic entities of all sectors and forms of property. The research methods include dialectial, cause-and-effect and structural-logical analysis that allow to clarify theoretical aspects of crowdinvesting as a possible alternative source of financing small innovative enterprises in the Russian Fedation. The research results include the following: 1. definition of crowdinvesting as an initial source of financing innovative projects; 2. logically substantiated author's model of development of financial investment mechanism through crowdinvesting in order to encourage and develop innovation activity of economic entities. The results of the research are important for the development of availability of financial sources and implementation of new financial technologies that would attract more resources into innovation projects.