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Not Just for Money. Crowdfunding a New Tool of Open Innovation to Support the Agro-Food Sector. Evidences on the Italian Market

Author

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  • Pronti Andrea

    (Istituto di ricerca sulla crescita economica sostenibile, Consiglio Nazionale delle Ricerche, Roma, Italy)

  • Pagliarino Elena

    (Department of Economics and Management, University of Ferrara, Via Voltapaletto, Ferrara, Italy)

Abstract

The aim of this paper is to explore Crowdfunding as a new form of Open Innovation for SMEs and family business in the Agri-Food sector which usually do not have the same skills and tools to operate with conventional own Crowdsourcing methods. The study first has analyzed the principal literature and data available on Crowdfunding and the Food industry in order to describe the state of the art in this subject. Afterwards the focus of the paper goes to the analysis of the Italian case. The study used a deep qualitative approach because of an important lack of data and information on this subject. Nine depth interviews to key informants of the sector have been carried out investigating the market players, the normative regulations, the businesses models and the evolution of Crowdfunding for the Agri-Food industry in Italy. The research finds that Crowdfunding for Agri-Food industry can be important for both its profitability and the development of the sector, but that nowadays the Italian market is still in its primordial phase. Crowdfunding is very suitable for SMEs business which represents the vast majority of the Agri-Food Italian market and the use of this instrument could be beneficial for it.

Suggested Citation

  • Pronti Andrea & Pagliarino Elena, 2019. "Not Just for Money. Crowdfunding a New Tool of Open Innovation to Support the Agro-Food Sector. Evidences on the Italian Market," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 17(1), pages 1-16, May.
    • Handle: RePEc:bpj:bjafio:v:17:y:2019:i:1:p:16:n:1
    DOI: 10.1515/jafio-2017-0016
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    References listed on IDEAS

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    1. Renwick, Matthew J. & Mossialos, Elias, 2017. "Crowdfunding our health: Economic risks and benefits," Social Science & Medicine, Elsevier, vol. 191(C), pages 48-56.
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    5. Alexandra Moritz & Joern H. Block, 2016. "Crowdfunding: A Literature Review and Research Directions," FGF Studies in Small Business and Entrepreneurship, in: Dennis Brüntje & Oliver Gajda (ed.), Crowdfunding in Europe, edition 1, pages 25-53, Springer.
    6. Michael M. Gierczak & Ulrich Bretschneider & Philipp Haas & Ivo Blohm & Jan Marco Leimeister, 2016. "Crowdfunding: Outlining the New Era of Fundraising," FGF Studies in Small Business and Entrepreneurship, in: Dennis Brüntje & Oliver Gajda (ed.), Crowdfunding in Europe, edition 1, pages 7-23, Springer.
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