Crowdfunding

Gerber, Elizabeth M.; Hui, Julie

doi:10.1145/2530540

Cited by 554 publications

(221 citation statements)

References 33 publications

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“…The Kickstarter platform has garnered most HCI research (e.g. [2,19,38]), not least because its campaigns remain public even after closure, providing a ready corpus of data, at scale. More challenging is acquiring access to P2P and equity platforms' data, such as these here, as these platforms often keep campaigns private.…”

Section: Types Of Crowdfundingmentioning

confidence: 99%

“…Crowdfunding has drawn considerable recent research [e.g 1,2,12,13,19,23,37,38,39,41,50,54,55] along with design for crowds [49]. Of relevance to this paper is the growing field of civic crowdfunding [13,50] where crowdfunding acts as service design for mobilizing social innovation, generating value through 'community or quasi-public assets' ( [13: 342]).…”

Section: Introductionmentioning

confidence: 99%

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Crowdfunding Platforms and the Design of Paying Publics

Light

Briggs

2017

Proceedings of the 2017 CHI Conference on Human Factors in Computing Systems

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Crowdfunding enables groups to self-fund the changes they want to make in the world. In other words, digital financial platforms are proving capable of supporting new relations between groups of people as well as offering new ways to organize money. Taking an HCI lens, we look at how some crowdfunding platform owners are approaching social innovation, not only at the level of supporting individual community initiatives, but at the broader level of using their platform to change societal behavior. Through four case studies, we show how crowdfunding has been chosen as a tool to redesign society by promoting environmental or social sustainability. We argue that the groups constituted through these interactions are not merely 'crowds', but deliberate constellations built round a thing of interest (or 'paying publics'). Our interviews with managers and owners explore how interactions with and around platforms work to achieve these ends and we conclude with design considerations.

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Section: Types Of Crowdfundingmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Crowdfunding Platforms and the Design of Paying Publics

Light

Briggs

2017

Proceedings of the 2017 CHI Conference on Human Factors in Computing Systems

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“…The advantages of using a crowdfunding platform are several; from speeding up and making bureaucratic procedures cheaper [18], to carrying out matchmaker functions and serving as an advertising window [19]. They are also in charge of supplying the precious resource to the promoter of the idea, only if a certain economic amount is reached [17].…”

Section: What Is Crowdfunding?mentioning

confidence: 99%

“…On the other hand, sharing ideas or knowledge without any type of protection, intellectual or any other, increases the risk of plagiarism [19], which is further aggravated if the project does not reach the minimum necessary amount, since it cannot be funded despite having been publicized both on the platform itself and on social networks [45], once the funding is cancelled, it is not possible to present the project on the same platform, because one of the admission criteria is the originality of the projects.…”

Section: Challenges Of Crowdfunded Projectsmentioning

confidence: 99%

Key Factors for Project Crowdfunding Success: An Empirical Study

et al. 2020

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Crowdfunding is a response to the financing problem of innovative projects in an environment of severe economic crisis. Its competitive advantage lies in its independence from banking institutions and the distribution of risk among a certain number of funders. Since its inception, the number of successfully completed projects has grown to a point where it has started to suffer a downturn that puts its sustainability at risk. This study concerns this particular period of downturn, in order to identify attributes that characterize it, and to define behavioral stereotypes that may be associated with new projects. On a wide data set from sufficiently contrasted projects, and through the use data mining techniques, we extracted the most influential factors in determining the success or failure of the projects, that will subsequently be grouped together using clustering techniques. Six groups of projects have been identified, each with their own characteristics that define them, two of them clearly guide the projects to success and another one allows the modification its characteristics to move away from failure. This achieved strategy allows us to estimate which potential group would be the result of a new project.By means of crowdfunding, unlike the traditional sale of products, the necessary funds are advanced, which reduces risk and makes the project development possible. The contact is carried out through specific platforms that connect people interested in a particular type of product with entrepreneurs offering them. Otherwise, they would not come into contact, causing unmet needs and unrealized expectations [4]. So, a crowdfunding campaign is considered "successful" when the project reaches the minimum necessary funds (budgeted in advance) and is usually considered "very successful" if the funds reached exceed the budgeted amount.The rise of these platforms has been unquestionable since 2006, when the Sellaband platform was created, aimed at raising funds for musical projects. It was the first online platform with an interface just as it is known nowadays. Since then, its number has not stopped growing; 2011 ended with 348 platforms [5] and 2017 closes with more than 2000 active platforms [6] and a large amount of money raised; Kickstarter, the industry's most popular platform, has accumulated a total revenue of just over $4 Billion [7].Despite this positive data, crowdfunding has not reached maturity, since the failure rate is far from improving over the time. According to a study by Professor Mollick, based on an extensive database of Kickstarter projects between 2009 and 2012, the average success rate during that period was 48.1% [8]. The data that the platform shows in its statistics are even worse, starting with success rates in 2010 and 2011 of 43% and 46% respectively, and finishing with the last couple of years 2015 and 2016 with 36% and 32% success. 2016 stands out as the first year in which there is a recess in the number of projects proposed for funding, 14.5% less than the previous year [9]. The suc...

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“…Based on the previously elaborated research work, taking financial participation of venture capitalists participation may well be accompanied an active participation with the management team thanks to their experience business, their skills and professional relationships network (Weber and Kratzer, 2013; Leete andBocken and) enabling them to take part in the various managerial and control tasks of the firm (Davis and al., 2011; Cortez and al., 2012; Marcus and al., 2013, Bacon and al., 2013;Appelbaum and al., 2013). Consequently, the post-investment relationship between the venture capitalist and the entrepreneur should be considered as a source of interaction and success rather than an agency type of relationship (Frankeand al., 2008;Wirtz, 2011;Jengfang, 2012;Finet, 2012, Gerber andHui, 2013). Both actors will then be strongly dependent on one another.…”

Section: Introductionmentioning

confidence: 99%

The cognitive contribution within the Tunisian venture capital funded firms

Dziri

Jarboui

2016

IJAES

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The present research work's major objective lies in investigating the scope of the venture capitalist' cognitive contribution following their financial participation in the company's capital. Conducted on a sample of 70 Tunisian venture capital funded firms, operating up the year 2015, the survey reached findings have proved to reveal well the significant impact this financial intermediation mode appears to have on kindling cognitive resources, in its association with the contractor. Noteworthy, however, is that the cognitive contribution has been discovered to be constrained, in turn, by the venture capital organization's proper ownership structure.

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Crowdfunding

Cited by 554 publications

References 33 publications

Crowdfunding Platforms and the Design of Paying Publics

Crowdfunding Platforms and the Design of Paying Publics

Key Factors for Project Crowdfunding Success: An Empirical Study

The cognitive contribution within the Tunisian venture capital funded firms

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