Fighting for Funds: An Exploratory Study into the Field of Crowdfunding
Tuesday, May 31, 2011
BUSM08: Degree Project in International Marketing and Brand Management
Ralph Van Wingerden and Jessica Ryan
Crowdfunding, crowdsourcing, funding, fundraising, investing, and motivation
This thesis investigates users of crowdfunding platforms in order to further theinsight into understanding what affects their motives and behaviour. Therelationship between intrinsic and extrinsic motivation as well as peerinfluence is investigated.
This study is grounded on the limited theories surrounding crowdfunding andcrowdsourcing, as well as relevant theories in the neighbouring fields of intrinsic and extrinsic motivation, investment decision-making, early stage-investment, informal investing, informal venture capitalists, onlinecollaboration, and business angels.
Exploration of the predicted relationships was tested in a quantitative cross-sectional design. Data was gathered by means of a web-based Likert scalequestionnaire, which was distributed to crowdfunders primarily bycrowdfunding platform administrators, and through the use of Facebook,Linkedin, and Twitter.
This study relies on quantitative data analysis. As part of this analysis, theauthors made use of correlation, regression and factor analyses in order to findpatterns in the data that resemble and contradict findings in the theoreticalframework.
The findings confirm that: there are two major groups of individuals thatcrowdfund; more people engage for intrinsic reasons than might be expected;frequency and amount are reflected in motivational reasons for engagement;age does influence funding behaviours; and crowdfunders share similaritiesand differences with individuals in related fields.