This article explores the impact of different types of products and rewards on the amount of funds raised in reward-based crowdfunding (RBCF). Specifically, we have analyzed two different product types, i.e., based on individual ownership or temporary use, and four types of rewards, i.e., prototype, branded promotional item, special edition, and discount. Results of a within-subject survey-based experiment indicate that individual ownership products obtain more funds than temporary use products. In addition, depending on the product type, some rewards are more effective in attracting funds from backers. These outcomes extend the application of Signaling Theory in the context of RBCF, as backers respond to multiple signals connected to both product and reward types because they are related to the likelihood of project realization, and of Self-Determination Theory, as backers are nonprofessionals and contribute their money mainly for the satisfaction of supporting what they consider valuable entrepreneurial projects. The findings of this article advance the scientific understanding of RBCF and provide advice for entrepreneurs on how to properly craft their call for money depending on the type of product proposed to the crowd.
4 April 2018 in Journal of Social Entrepreneurship
Previous research suggests that the body of Social Innovation literature is increasing in terms of scholarly contributions. The field is described as phenomenally based and hypothetically fragmented, with a set of emerging theoretical contributions filling the gaps. This article explores the domain of Social Innovation identifying its principal characteristics through a taxonomy proposal.
1 January 2016 in Journal of technology management & innovation
Even though scholars' attention has been placed on Social Innovation (SI), little evidence has been provided with regards to which tools are actually used to address social needs and foster Social Innovation initiatives. The purpose of the article is twofold. Firstly, the article offers empirical recognition to SI by investigating, on a large-scale, social and innovative activities conducted by start-ups and small and medium-sized enterprises (SMEs) across the world between 2001 and 2014. Secondly, the article intends to capture SI core businesses and underlying complementarities between products, markets, and technologies and show in which way digital media and IT are essentially tracing innovation trajectories over a multitude of industries, leading the current industrial patterns of SI, and continually fostering its cross-industry nature.
5 November 2022 in Nonprofit and Voluntary Sector Quarterly
Communities, intended as self-organized informal groups, are much less structured than nonprofit organizations typically considered by Cross-Sector Social Partnership (CSSP) studies. Building on the empirical investigation of a real CSSP, this article offers an in-depth analysis of the ambivalent dynamics implied by partnership with such communities. Our findings indicate that the mechanisms that create room for innovative collaboration opportunities made available by these communities (such as co-innovation, pricing co-determination, co-financing, and democratic decision making) can also, over time, adversely affect the partnership and cause it to permanently lose its shared purpose. In our conclusion, we provide potential remedies for the latter scenario and discuss how they may enrich CSSP literature.
10 February 2023 in IEEE Engineering Management Review
In this paper, we have provided insight into reward-based crowdfunding (RBCF). Individual ownership or temporary usage products and four different types of rewards have been evaluated — prototype, branded promotional item, special edition, and discount. We have determined whether intrinsic or extrinsic motivational strategies and the timing of the reward play a significant role. We have found that individual ownership items received more funding than temporary usage products. Certain rewards are more effective than others in garnering contributions from backers and we have identified the cases where this occurs. RBCF knowledge is important, and we have provided recommendations for entrepreneurs about how to appropriately structure their call for funding.