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Crowdfunding: Outlining the New Era of Fundraising

In: Crowdfunding in Europe

Author

Listed:
  • Michael M. Gierczak

    (Kassel University)

  • Ulrich Bretschneider

    (Kassel University)

  • Philipp Haas

    (University of St. Gallen)

  • Ivo Blohm

    (University of St. Gallen)

  • Jan Marco Leimeister

    (Kassel University
    University of St. Gallen)

Abstract

Crowdfunding is increasingly gaining attention in theory and practice. Various platforms have emerged, offering entrepreneurs and project owners the possibility to raise money from an undefined group of online users (“crowd”). In this article we aim to provide a deeper understanding of the rise of crowdfunding as an alternative funding opportunity by discussing its main characteristics, the market development, different classification approaches, its fields of application and by providing directions for future research.

Suggested Citation

  • 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.
    • Handle: RePEc:spr:fgfchp:978-3-319-18017-5_2
    DOI: 10.1007/978-3-319-18017-5_2
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    Citations

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    Cited by:

    1. Chien-Chi Chu & Ya-Fang Cheng & Fu-Sheng Tsai & Sang-Bing Tsai & Kun-Hwa Lu, 2019. "Open Innovation in Crowdfunding Context: Diversity, Knowledge, and Networks," Sustainability, MDPI, vol. 11(1), pages 1-11, January.
    2. Yasar, Burze & Sevilay Yılmaz, Işıl & Hatipoğlu, Nurullah & Salih, Aslıhan, 2022. "Stretching the success in reward-based crowdfunding," Journal of Business Research, Elsevier, vol. 152(C), pages 205-220.
    3. Novak, Ivan & Knežević, Blaženka & Škrobot, Petra, 2017. "Crowdfunding of Entrepreneurial Projects in Sport," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2017), Dubrovnik, Croatia, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Dubrovnik, Croatia, 7-9 September 2017, pages 94-101, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
    4. Ren, Jie & Raghupathi, Viju & Raghupathi, Wullianallur, 2021. "Exploring the subjective nature of crowdfunding decisions," Journal of Business Venturing Insights, Elsevier, vol. 15(C).
    5. Kukurba Maria & Waszkiewicz Aneta, 2018. "Crowdfunding as a Form of Funding for Businesses in the Culturally-Changing Global Economy: A Literature Review," Journal of Intercultural Management, Sciendo, vol. 10(2), pages 99-137, June.
    6. Sabia, Luca & Bell, Robin & Bozward, David, 2022. "Big fish: Leveraging the fear of missing out in equity crowdfunding in the post-COVID-19 era," Business Horizons, Elsevier, vol. 65(1), pages 59-67.
    7. 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.
    8. Alsagr, Naif & Cumming, Douglas J. & Davis, Justin G. & Sewaid, Ahmed, 2023. "Geopolitical risk and crowdfunding performance," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 85(C).
    9. Peter Konhäusner & Marius Thielmann & Veronica Câmpian & Dan-Cristian Dabija, 2021. "Crowdfunding for Independent Print Media: E-Commerce, Marketing, and Business Development," Sustainability, MDPI, vol. 13(19), pages 1-17, October.
    10. Laffey, Des & Durkin, Mark & Cummins, Darryl & Gandy, Anthony, 2021. "A shift in power? Value co-creation through successful crowdfunding," Technological Forecasting and Social Change, Elsevier, vol. 172(C).
    11. Nikolaus Lipusch & Dominik Dellermann & Ulrich Bretschneider & Philipp Ebel & Jan Marco Leimeister, 2020. "Designing for Crowdfunding Co-creation," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 62(6), pages 483-499, December.
    12. Lynda Y. de la Viña & Stephanie Lee Black, 2018. "US Equity Crowdfunding: A Review of Current Legislation and A Conceptual Model of the Implications for Equity Funding," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 27(1), pages 83-110, March.
    13. Gerlinde BEHRENDT & Sarah PETER & Simone STERLY & Anna Maria HÄRING, 2019. "Community financing in the German organic food sector: a key for sustainable food systems?," CIRIEC Working Papers 1918, CIRIEC - Université de Liège.
    14. Irene Comeig & Ernesto Mesa-Vázquez & Pau Sendra-Pons & Amparo Urbano, 2020. "Rational Herding in Reward-Based Crowdfunding: An MTurk Experiment," Sustainability, MDPI, vol. 12(23), pages 1-21, November.

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