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The Impact of Crowdfunding and its Ability to facilitate the Liability of Newness: A Case Study on New Ventures within the Product Design Industry

Falke, Florian LU and Schöne, Martin David (2014) ENTN19 20141
Department of Business Administration
Abstract
Crowdfunding is often considered as a financial source to close the early stage financial gap of new ventures. However, there is little research on its impact regarding other liabilities new ventures face. The aim of this study is to find evidence on how crowdfunding can provide new ventures with additional value apart from financial resources. For this purpose, the concept of liability of newness is used as a framework to understand the specific impact of crowdfunding in different areas. This article uses a qualitative approach with three new ventures within the product design industry that used the crowdfunding platform Kickstarter. The findings showed that new ventures in this particular kind of industry use crowdfunding only as a... (More)
Crowdfunding is often considered as a financial source to close the early stage financial gap of new ventures. However, there is little research on its impact regarding other liabilities new ventures face. The aim of this study is to find evidence on how crowdfunding can provide new ventures with additional value apart from financial resources. For this purpose, the concept of liability of newness is used as a framework to understand the specific impact of crowdfunding in different areas. This article uses a qualitative approach with three new ventures within the product design industry that used the crowdfunding platform Kickstarter. The findings showed that new ventures in this particular kind of industry use crowdfunding only as a marketing and sales channel rather than as a financial resource. It turned out that crowdfunding especially helps to facilitate external liabilities that are visible to the crowd, whereas internal liabilities that are not visible to the crowd are not affected. (Less)
Please use this url to cite or link to this publication:
author
Falke, Florian LU and Schöne, Martin David
supervisor
organization
course
ENTN19 20141
year
type
H1 - Master's Degree (One Year)
subject
keywords
Crowdfunding, Crowdsourcing, Web 2.0, Wisdom of the crowd, Liability of newness, New ventures, Product design industry.
language
English
id
4467500
date added to LUP
2014-06-19 13:42:36
date last changed
2014-06-19 13:42:36
@misc{4467500,
  abstract     = {{Crowdfunding is often considered as a financial source to close the early stage financial gap of new ventures. However, there is little research on its impact regarding other liabilities new ventures face. The aim of this study is to find evidence on how crowdfunding can provide new ventures with additional value apart from financial resources. For this purpose, the concept of liability of newness is used as a framework to understand the specific impact of crowdfunding in different areas. This article uses a qualitative approach with three new ventures within the product design industry that used the crowdfunding platform Kickstarter. The findings showed that new ventures in this particular kind of industry use crowdfunding only as a marketing and sales channel rather than as a financial resource. It turned out that crowdfunding especially helps to facilitate external liabilities that are visible to the crowd, whereas internal liabilities that are not visible to the crowd are not affected.}},
  author       = {{Falke, Florian and Schöne, Martin David}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{The Impact of Crowdfunding and its Ability to facilitate the Liability of Newness: A Case Study on New Ventures within the Product Design Industry}},
  year         = {{2014}},
}