The Relevance of Crowdfunding : The Impact on the Innovation Process of Small Entrepreneurial Firms

Nadine Scholz shows that crowdfunding potentially shortens the development cycle of new products, thus enabling an earlier market entry. Hence, crowdfunding serves as a multifaceted early-stage support instrument for innovation implementation facilitated by the crowd's resources. It not only provides upfront cash for product development and production, more importantly it enables a firm to show traction through the validation of the market demand that is based on the crowd's function as information multiplicator generating public exposure and feedback. ℗ℓContents The Crowdfunding Phenomenon Perspectives of Crowdfunding on the Innovation Process Research Design for the Empirical Study Critical Actors and Their Drivers in the Crowdfunding Ecosystem New Dynamics in the Innovation Process ℗ℓTarget Groups Researchers and students in the fields of business administration, innovation management, and entrepreneurship Entrepreneurs, people aiming to use crowdfunding The Author Nadine Scholz received her Masterℓ́ℓs degree in Innovation Management and Entrepreneurship from Manchester Business School, UK Nadine Scholz shows that crowdfunding potentially shortens the development cycle of new products, thus enabling an earlier market entry. Hence, crowdfunding serves as a multifaceted early-stage support instrument for innovation implementation facilitated by the crowd's resources. It not only provides upfront cash for product development and production, more importantly it enables a firm to show traction through the validation of the market demand that is based on the crowd's function as information multiplicator generating public exposure and feedback. ℗¡Contents The Crowdfunding Phenomenon Perspectives of Crowdfunding on the Innovation Process Research Design for the Empirical Study Critical Actors and Their Drivers in the Crowdfunding Ecosystem New Dynamics in the Innovation Process ℗¡Target Groups Researchers and students in the fields of business administration, innovation management, and entrepreneurship Entrepreneurs, people aiming to use crowdfunding The Author Nadine Scholz received her Masterђ́ةs degree in Innovation Management and Entrepreneurship from Manchester Business School, UK Nadine Scholz shows that crowdfunding potentially shortens the development cycle of new products, thus enabling an earlier market entry. Hence, crowdfunding serves as a multifaceted early-stage support instrument for innovation implementation facilitated by the crowd's resources. It not only provides upfront cash for product development and production, more importantly it enables a firm to show traction through the validation of the market demand that is based on the crowd's function as information multiplicator generating public exposure and feedback. ℗lContents The Crowdfunding Phenomenon Perspectives of Crowdfunding on the Innovation Process Research Design for the Empirical Study Critical Actors and Their Drivers in the Crowdfunding Ecosystem New Dynamics in the Innovation Process ℗lTarget Groups Researchers and students in the fields of business administration, innovation management, and entrepreneurship Entrepreneurs, people aiming to use crowdfunding The Author Nadine Scholz received her Masterĺls degree in Innovation Management and Entrepreneurship from Manchester Business School, UK "Nadine Scholz shows that crowdfunding potentially shortens the development cycle of new products, thus enabling an earlier market entry. Hence, crowdfunding serves as a multifaceted early-stage support instrument for innovation implementation facilitated by the crowd's resources. It not only provides upfront cash for product development and production, more importantly it enables a firm to show traction through the validation of the market demand that is based on the crowd's function as information multiplicator generating public exposure and feedback"--Provided by publisher Front Matter....Pages I-XII Introduction....Pages 1-6 The Crowdfunding Phenomenon....Pages 7-10 Literature Review: Perspectives of Crowdfunding on the Innovation Process....Pages 11-32 Research Design for Empirical Study....Pages 33-43 Empirical Research Results: Description, Analysis and Synthesis....Pages 45-63 Conclusion and Discussion....Pages 65-68 Back Matter....Pages 69-86