University of Twente Student Theses
As of Friday, 8 August 2025, the current Student Theses repository is no longer available for thesis uploads. A new Student Theses repository will be available starting Friday, 15 August 2025.
The Role of Early Investors in Crowdfunding Success: A Comparative Analysis of Reward-Based and Equity-Based Campaigns in the Technology Sector
Wösting, Sam (2025) The Role of Early Investors in Crowdfunding Success: A Comparative Analysis of Reward-Based and Equity-Based Campaigns in the Technology Sector.
|
PDF
443kB |
| Abstract: | This thesis investigates whether early investor activity has a different impact on crowdfunding success in reward-based campaigns versus equity-based campaigns. Using manually collected data from Kickstarter (reward-based) and Crowdcube (equity-based) for technology-based campaigns launched between March and May 2025, the study analyzes early investor numbers, early funding amounts, and the percentage of the funding goal achieved early in the campaign. The results indicate that equity-based campaigns attract larger early investments and achieve higher total funding. In contrast, reward-based campaigns often reach a greater percentage of their funding goal in the early stages, but with more variability. Regression and t-test analyses confirm that early investment is a significant predictor of campaign success, especially for equity-based campaigns. Correlation analysis reveals a strong bandwagon effect, where early momentum attracts more investors and increases the likelihood of success. These findings demonstrate that early investors play a critical role in both crowdfunding models, with a stronger and more consistent influence observed in equity-based campaigns. |
| Item Type: | Essay (Bachelor) |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 85 business administration, organizational science |
| Programme: | International Business Administration BSc (50952) |
| Link to this item: | https://purl.utwente.nl/essays/106764 |
| Export this item as: | BibTeX EndNote HTML Citation Reference Manager |
Show download statistics for this publication
Show download statistics for this publicationRepository Staff Only: item control page