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CROWDFUNDING FOR INNOVATION: A QUALITATIVE RESEARCH ON RESOURCES, CAPABILITIES AND STAKES

Bakker - Rakowska, Justyna (2014) CROWDFUNDING FOR INNOVATION: A QUALITATIVE RESEARCH ON RESOURCES, CAPABILITIES AND STAKES.

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Abstract:This thesis investigates effects of crowdfunding on innovation, by investigating this central question: How can crowdfunding be best used to bolster successful technological product innovations? The study involves the use of well – known and well-established business administration theories: resource-based view and stakeholder theory, as well as writings on crowdfunding. It is a qualitative study of seven successfully crowdfunded projects, representing technological innovations. Each case was analyzed separately in order to inhibit the understanding of case-specific dynamics and organize the findings. Afterwards, a cross-case analysis was conducted to strengthen the collected evidence . Data was gathered from primary (interviews) and secondary sources. Results reveal that crowdfunding is investment intensive for stakeholders. However, the degree of devoting efforts and resources depends on their motivations to participate. There are two strategies for efficiency improvement where the founders’ task is to determine how backers’ will be involved. Backers’ engagement requires e-mail gate keeping and updating in case of financial and market research engagement. In case of co-development, personal contact is additionally required. This division offers an optimal manner for seizing the benefits and minimizing externalities in crowdfunding. This research extends applied theories and clarifies crowdfunding practice. It also broadens marketing literature on consumer involvement.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:http://purl.utwente.nl/essays/64668
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