Success factors for Crowdfunding founders and funders
It addresses the problem of understanding crowdfunding success for entrepreneurs and funders, particularly in creative industries, but appears incremental as it builds on existing research without claiming major breakthroughs.
This research investigated the success factors for crowdfunding projects from both founders' and funders' perspectives, using a custom-designed website to observe behaviors, and provided practical recommendations based on findings related to trust and decision-making.
Crowdfunding has been used as one of the effective ways for entrepreneurs to raise funding especially in creative industries. Individuals as well as organizations are paying more attentions to the emergence of new crowdfunding platforms. In the Netherlands, the government is also trying to help artists access financial resources through crowdfunding platforms. This research aims at discovering the success factors for crowdfunding projects through crowdfunding platforms from both founders and funders perspective. We designed our own website for founders and funders to observe crowdfunding behaviors. Our research will contribute to crowdfunding success factors related to issues of trust and decision making and provide practical recommendations for practitioners and researchers.