A Review of Crowdfunding Research and Findings

Handbook of New Product Development Research, Forthcoming

20 Pages Posted: 4 Nov 2015

See all articles by Venkat Kuppuswamy

Venkat Kuppuswamy

University of North Carolina Kenan-Flagler Business School

Barry L. Bayus

University of North Carolina Kenan-Flagler Business School

Date Written: October 28, 2015

Abstract

An important barrier to commercializing innovations is the availability of early-stage funding. Given the difficulties that new ventures face in attracting financing from angel investors, banks and venture capital funds, some entrepreneurs are tapping into large, online communities of consumer-investors. Called “crowdfunding,” this relatively new form of informal venture financing allows entrepreneurs to directly appeal to the general public (i.e., the “crowd”) for help in getting their innovative ideas off the ground. Due to the rapidly growing interest in this online form of venture financing, academic research is beginning to explore the drivers behind successfully crowdfunded projects. In this chapter, we summarize the key findings from the empirical crowdfunding literature organized by the four types of crowdfunding platforms.

Keywords: Crowdfunding, Entrepreneurship, Innovation, Venture Financing, Strategy

JEL Classification: O31, L26, L17

Suggested Citation

Kuppuswamy, Venkat and Bayus, Barry, A Review of Crowdfunding Research and Findings (October 28, 2015). Handbook of New Product Development Research, Forthcoming. Available at SSRN: https://ssrn.com/abstract=2685739 or http://dx.doi.org/10.2139/ssrn.2685739

Venkat Kuppuswamy (Contact Author)

University of North Carolina Kenan-Flagler Business School ( email )

Chapel Hill, NC 27599
United States

Barry Bayus

University of North Carolina Kenan-Flagler Business School ( email )

McColl Building
Chapel Hill, NC 27599
United States
919-962-3210 (Phone)

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