A Qualitative Investigation of Factors Influencing Successful Crowdfunding Campaigns in the UK and China Using the Reward Model

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A Qualitative Investigation of Factors Influencing Successful Crowdfunding Campaigns in the UK and China Using the Reward Model

Authors
Type
Conference
Publication Date
May 09, 2021
Accepted Date
May 09, 2021
Source
MyScienceWork
Keywords
License
Green

Abstract

Crowdfunding is an alternative funding mechanism whereby innovators can access funding for their projects using a variety of “payback” options to investors – from traditional rewards such as equity, dividends and repayments with interest to non-monetary rewards such as physical or digital rewards. It has been defined by Schwienbacher and Larralde (2010) as an open call to the crowd to generate financial resources for particular purposes. The rewardbased model is of great interest as it gives the option of providing incentives to investors without using money (which is in short supply) or giving up equity – yet still being able to provide rewards which are of great interest to investors such as prototypes of games, a character in a game, early versions of products, or products at an exclusive discount (Islam and Phillips, 2020).

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