The Relevance of Crowdfunding (eBook)

The Impact on the Innovation Process of Small Entrepreneurial Firms

Nadine Scholz (Autor)

eBook Download: PDF

2015 | 2015
XII, 86 Seiten
Springer Fachmedien Wiesbaden GmbH (Verlag)
978-3-658-09837-7 (ISBN)

Infos

Nadine Scholz shows that crowdfunding potentially shortens the development cycle of new products, thus enabling an earlier market entry. Hence, crowdfunding serves as a multifaceted early-stage support instrument for innovation implementation facilitated by the crowd's resources. It not only provides upfront cash for product development and production, more importantly it enables a firm to show traction through the validation of the market demand that is based on the crowd's function as information multiplicator generating public exposure and feedback. 

Nadine Scholz received her Master's degree in Innovation Management and Entrepreneurship from Manchester Business School, UK. 

Inhalt

Acknowledgements 5
Abstract 6
Table of Contents 7
List of Figures 9
List of Tables 10
1 Introduction 11
1.1 Towards an Ecosystem for Early-Stage Finance and Innovation: Crowdfunding 11
1.2 Description of Situation and Motivation 13
1.3 Research Question, Limitation and Purpose of this Work 13
1.4 Structure and Methodology 15
2 The Crowdfunding Phenomenon 17
2.1 What is Crowdfunding? 17
2.2 Typology of Key Actors in the Crowdfunding Arena 18
2.3 Crowdfunding Variations 19
2.4 Working Definition -Crowdfunding 20
3 Literature Review: Perspectives of Crowdfunding on the Innovation Process 21
3.1 The Entrepreneurial Innovation Process 23
3.1.1 The Generic Innovation Process and its Dynamics 24
3.1.2 Adoption of Innovation 29
3.1.3 Success Factors in Entrepreneurial Firm Development 31
3.1.4 Summary: The Entrepreneurial Innovation Process and Crowdfunding 33
3.2 The Crowdfunding Ecosystem 34
3.2.1 Roles of Main Actors 34
3.2.2 The Emergence from Crowdsourcing to Crowdfunding 36
3.2.3 Pros and Cons of Crowdfunding 37
3.2.4 Summary: The Economic Relevance of the Crowdfunding Ecosystem 38
3.3 New Consumer Dynamics in the Innovation Process 39
3.4 Literature Review Summary 41
4 Research Design for Empirical Study 43
4.1 Key Issues Derived from the Literature Review 43
4.2 Research Nature 48
4.3 Data Collection and Sampling 48
4.4 Framework for Data Analysis 51
4.5 Ethical Considerations 52
4.6 Research Limitations and Potential Problems 52
5 Empirical Research Results: Description, Analysis and Synthesis 54
5.1 Empirical Research Results 54
5.1.1 Critical Actors and Their Drivers in the Crowdfunding Ecosystem 54
5.1.2 New Dynamics in the Innovation Process 58
5.1.3 New Dynamics in Innovation Adoption 65
5.1.4 Crowdfunding Impact on Scaling-Up the Business 69
5.1.5 Crowdfunding as an Equal Financing Instrument to VC? 70
5.2 Summary of Analysis 72
6 Conclusion and Discussion 73
Bibliography 77
Appendices 84
Appendix A -Crowdfunding Growth Development 84
Appendix B -Overview of Selected Reward-Based Crowdfunding Platforms 85
Appendix C -Interview Guide 87
Appendix D - Overview of Interviewees 91
Appendix E – Overview of Kickstarter Projects for Quantitative Analysis 92

Produkt-Details

• Erscheint lt. Verlag: 26.5.2015
• Zusatzinfo: XII, 86 p. 15 illus.
• Verlagsort: Wiesbaden
• Sprache: englisch
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management
• Schlagworte: Crowdfunding Ecosystem • Development Cycle • Early Market Entry • Entrepreneurial Finance • New Venture
• ISBN-10: 3-658-09837-6 / 3658098376
• ISBN-13: 978-3-658-09837-7 / 9783658098377