Blueprinting Crowdfunding - Designing a Crowdfunding Service Configuration Framework

Crowdfunding gained momentum over the last few years. In contrast to traditional forms of funding, the service provision of crowdfunding platforms is performed within service systems. These comprise a complex combination of IT and non-IT services, different stakeholders, and diverging contexts and purposes. The design and operation of such service systems represents a tough challenge. Therefore, we developed a crowdfunding service configuration framework in the form of a morphological box and derived three dominant design patterns by following a design science approach. Therefore, we followed three iterations, which comprise in total twelve expert interviews, three case studies and the analysis of 161 crowdfunding platforms. The configuration framework extends research on crowdfunding and service science by providing insights in how to support the systematic design of crowdfunding service systems, reducing their complexity, and giving a comprehensive overview over their building blocks

Financing sustainable market actors in circular economy

Peer reviewe

Venture capital, crowdfunding, and initial coin offering: The interconnectedness of entrepreneurial financing channels in Europe

Objectives The main objective of this study is to examine the potential relationship between the more recent funding mechanisms – crowdfunding and initial coin offering, in this case – and the traditional ones – venture capital, in this case. Towards this goal, the study will review the current state of literature and conduct correlation analyses of the three aforementioned mechanisms. Summary This paper reviewed the literature in entrepreneurship financing and found a clear gap in researches for the interaction between different funding mechanisms. Based on the findings in this literature review, the paper conducted correlational analyses of three time-series, representing the amount raised via three channels: venture capital, crowdfunding, and initial coin offering. To prepare for these analyses, measures have been taken to produce stationarity from these non-stationary time-series. Both the differencing for stationarity and the correlation analyses allowed for interesting observations. Conclusions This led to three main insights: (1) all the time-series exhibit strong rising trend and some seasonality, (2) amount raised via crowdfunding has a slight negative correlation with that via venture capital, and (3) there is no statistically significant relationship between venture capital and ICO

Sijoittajakokemus kryptovaluuttojen maailmassa: Analyysi polettiantien asiakaspolusta

Initial coin offerings are a novel form of early-stage funding, enabled by blockchain technology and crypto tokens. It is becoming a significant disruptor of contemporary fundraising conventions. Current forms of initial coin offerings have emerged without regulation and no standard process of investing in one exists. The phenomenon has barely been studied previously in academia. How well existing theories of crowdfunding apply in the context of initial coin offerings is still unknown. This thesis provides knowledge on initial coin offerings from the perspective of the investor. The objective of the study was to utilize service design methodology into understanding how the investing process realizes from the investor's perspective. Furthermore, the aim was to understand the factors affecting the investor experience during the process. The study was conducted as qualitative interviews with eight investors. Through inductive content analysis, a model of a generic investor journey with related customer experiences was created. The results indicate that from service perspective initial coin offerings are unstandardized, fragmented and lack direct touchpoints between the investor and the campaign founder, implying inadequacy of service design in the campaigns. Regarding investor behavior, initial coin offerings can be categorized as a hybrid form of funding closely related to equity crowdfunding and angel investing. Bad reputation and lack of trust are driving forces affecting investor behavior and experiences throughout the investment process. Decentralized systems bring along novel challenges regarding the customer experience and investing requires a high level of IT skills, which limits the adoption of initial coin offerings as a form of funding. Poor customer experience currently limits the disruption potential of initial coin offerings.Polettianti on uusi lohkoketjuteknologian ja kryptopolettien mahdollistama alkuvaiheen rahoituksen muoto. Sillä on potentiaalisesti häiritsevä vaikutus nykyisiin rahoitusmekanismeihin. Nykyinen polettiantien muoto on kehittynyt ilman regulointia, eikä standardia sijoitusprosessia ole olemassa. Ilmiötä ei ole akateemisessa maailmassa juurikaan tutkittu aikaisemmin. Kuinka hyvin joukkorahoituksen teoriat soveltuvat polettiantien kontekstiin, on toistaiseksi tutkimatonta. Tämä diplomityö tarjoaa tietoa polettianneista sijoittajan näkökulmasta. Tutkimuksen tavoitteena oli hyödyntää palvelumuotoilun metodeja sijoitusprosessin ymmärtämiseksi sijoittajan näkökulmasta. Tämän lisäksi tavoitteena oli ymmärtää sijoittajan asiakaskokemukseen vaikuttavia tekijöitä prosessin aikana. Tutkimus toteutettiin kvalitatiivisena haastattelututkimuksena, johon osallistui kahdeksan sijoittajaa, joilla on kokemusta polettiannissa sijoittamisesta. Induktiivisen sisällönanalyysin keinoin tutkimuksessa tuotettiin yleisluontoinen sijoittajan asiakaspolku yhdessä sijoittamiseen liittyvien asiakaskokemusten kanssa. Tutkimuksen tulokset osoittavat, että palvelunäkökulmasta polettiannit ovat standardisoimattomia, sirpaleisia ja suorat kontaktipisteet sijoittajan ja varainkerääjän välillä ovat vähäisiä, mikä viittaa palvelumuotoilun puutteellisuuteen polettiantien suunnittelussa. Sijoittajien käytöksen näkökulmasta polettiannit voidaan luokitella hybridimallin rahoitukseksi, jolla on yhteistä pääomitusperusteisen joukkorahoituksen ja enkelisijoittamisen kanssa. Huono maine ja luottamuspula ovat ajavia voimia, jotka vaikuttavat sijoittajan käytökseen ja kokemuksiin koko sijoitusprosessin ajan. Hajautetut järjestelmät tuovat mukanaan uusia haasteita asiakaskokemukseen ja sijoittaminen vaatii korkeaa tietoteknistä osaamista sijoittajalta, mikä rajoittaa polettiantien omaksumista rahoituksen muotona. Heikko asiakaskokemus rajoittaa nykyisellään polettiantien disruptiopotentiaalia

Defining Archetypes of E-Collaboration for Product Development in The Automotive Industry

The automotive industry represents one of the most relevant industrial sectors of the global economy. In response to a plethora of challenges, e-collaboration for product development has become a nexus of competitive advantage in the automotive world. Since new dynamics in organizational forms on the one hand and advancements in engineering information systems on the other hand have led to increased complexity, a classification model to organize and structure the manifold manifestations seems analytically useful. Hence, the paper at hand (1) proposes, (2) describes, and (3) validates archetypes of e-collaboration for product development in the automotive industry. Anchored in (1) a structured literature review and (2) rich empirical evidence from a multiple-case study in the automotive ecosystem, we organize our research study along a well-established, two-stage research method on archetypes adopting a socio-technical systems perspective. Key findings include the archetypes (1) mechanical development-dominant, (2) software development-dominant, (3) systems engineering-oriented, and (4) non-development-focused e-collaborations for product development as basic patterns. Thereby, “importance of mechanical development” and “importance of software development” act as essential classification dimensions. Keeping the inherent limitations of the qualitative research tradition in mind, this paper offers theoretical, methodological, managerial, and cross-disciplinary contributions

Multikonferenz Wirtschaftsinformatik (MKWI) 2016: Technische Universität Ilmenau, 09. - 11. März 2016; Band I

Übersicht der Teilkonferenzen Band I: • 11. Konferenz Mobilität und Digitalisierung (MMS 2016) • Automated Process und Service Management • Business Intelligence, Analytics und Big Data • Computational Mobility, Transportation and Logistics • CSCW & Social Computing • Cyber-Physische Systeme und digitale Wertschöpfungsnetzwerke • Digitalisierung und Privacy • e-Commerce und e-Business • E-Government – Informations- und Kommunikationstechnologien im öffentlichen Sektor • E-Learning und Lern-Service-Engineering – Entwicklung, Einsatz und Evaluation technikgestützter Lehr-/Lernprozess

Service Design Capabilities

This open access book discusses service design capabilities in innovation processes, and provides a framework that guides design students, practitioners and researchers towards a better understanding of operational aspects of service design processes. More specifically, it revisits service designers’ capabilities in light of the new roles that have opened up in innovation processes on different scales. After years of being inadequately defined, the professional profile of service designers is now taking shape. Today private and public institutions recognize service designers as essential contributors to their innovation and development processes. What are the capabilities that characterize a service designer? These essential capabilities are what service designers should acquire in their education and can sell when looking for a job

Service Futures, Proceedings of the fourth Service Design and Service Innovation Conference

ServDes2014 explores how Service Design is contributing to ‘Service Futures’ and how it is developing as a field of research and practice. We have witnessed how the concept and role of services in the economy and society have come a long way since its first definitions and studies. Services have moved from being a peripheral activity in a manufacturing - centred economy; to an engine for growth and society driven innovation. This transformation has been fully recognised with a flourishing of service innovation and service research studies aimed at deepening understanding; and at supporting the development of services both as a sector and as a concept. We suggest that Service Design is closely following this transformation. Starting from its initial focus on service interactions and experiences; Service Design research and practice have entered more strategic and transformational roles; dealing with issues of organisational change; system design; sustainability and social change; amongst others. Increasingly; Service Design is considering ways to integrate and collaborate with other service related disciplines. Also; questions are emerging on the future of this field; considering the growing areas of application and the expansion of the concept of service itself. ServDes2014 has brought these recent discussions and transformations to the fore and offered an ideal place to collectively reflect on and imagine that future. ServDes.2014 ran over three days: The first day was dedicated to practical explorations of Service Design with eight workshops led by both practitioners and academics; The second day was mostly focused on (long and short) papers presentations organised in three parallel sessions and two extra workshops; The third and final day was partly dedicated to papers presentation and came to an end with three parallel forums exploring the future of Service Design Research and Education and their relationship with Social Innovation. Working at the boundaries of Service Design; Digital and Social Innovation; the keynote speaker Dominic Campbell (Futuregov); projected novel spaces and responsibilities for Service Design in relation to complex societal transformational challenges; while Prof. Pelle Ehn (Malmö University); positioned it within a historical retrospective of Participatory Design in a constant search for more democratic (service) design practices. The conference was organised around five main themes which are reflected in the proceedings structure: Emerging Directions for Service Design; Design for Service Innovation and Transformation; Service Design and Implementation; Novel Service Design Frameworks and Tools; Service Design Across Organisations. Thanks to everyone who contributed and participated to this conference; and we look forward ServDes.2016 further developments and ideas