Success in the Management of Crowdfunding Projects in the Creative Industries.

Purpose - Crowdfunding has become a significant way of funding independent film. However undertaking a campaign can be time consuming and risky. This paper aims to understand the predictors likely to produce a film campaign that meets its funding goal. Design/Methodology/Approach - This study analyses 100 creative crowdfunding campaigns within the film and video category on crowdfunding website Kickstarter. Campaigns were analysed in relation to a number of variables, followed by a discriminant analysis to highlight the main predictors of crowdfunding success. Findings - This study finds key predictors of crowdfunding success and investigates differences between successful and failed crowdunding campaigns. The attributes of these predictors lead us to question the long-term ability of crowdfunding to aid companies poorer in terms of time, financial and personnel resources, and therefore arguably in the greatest need of crowdfunding platforms. Practical Implications - The findings provide insight to practitioners considering the crowdfunding approach and offers knowledge and recommendations so as to avoid what can be naïve and costly mistakes. The findings highlight that crowdfunding should not be considered lightly and can be a considerable investment of resources to be successful. Originality/Value - The analysis of crowdfunding campaigns provides details on the significant predictors of crowdfunding success particularly relevant to creative campaigns. The findings provide a critique of previous claims about the benefit of crowdfunding for creative SMEs

Successful Features of Crowdfunding Campaigns: An Analysis of Requests for Coronavirus Food Relief

Crowdfunding is an emerging industry in the past decades, which proliferates and has attracted an enormous population from the public to be involved in various funding projects in multiple fields such as business entrepreneurship, healthcare, and fintech. Meanwhile, charitable crowdfunding platforms such as GoFundMe, Indiegogo, and Kickstarter have allowed internet users to provide help and donation to the fundraisers directly. As the year 2020 is surrounded by the COVID-19 global pandemic spreading out the world, the topic of coronavirus relief has surged. Thus, it is worthy of evaluating the crowdfunding campaign\u27s effectiveness during the coronavirus context by making a connection between fundraising activities and coronavirus relief. This paper aims to investigate the effects of various factors affecting a donation-based crowdfunding campaign for coronavirus relief of food donation in the United States and determine the significant factors affecting the campaign\u27s success rate. To achieve this research purpose, secondary data were extensively collected from the crowdfunding platform GoFundMe for regression analysis. The sample data was derived from crowdfunding campaigns launched from March 1st, 2020, to May 31st, 2020. During this period, the United States was severely affected by the COVID-19 pandemic with an exponentially surged number of confirmed cases. This paper derives the independent variables that have been examined from previous studies and further applies in the coronavirus context to identify whether these factors are significant influencers to the success of crowdfunding campaigns for coronavirus relief of food donation. The factors being examined include target funding amount, the existence of spelling mistakes, the presence of pictures, video, social network sites, project updates, comments between fundraisers and backers, and links to external websites. That the significant factors contributing to a successful funding project are similar, as identified in previous reward-based and equity crowdfunding studies. On the other hand, several independent variables\u27 effectiveness varied between the normal scenario and the coronavirus context, as such variables demonstrate a much compelling role to attract donors for the coronavirus relief activations. The analysis is valuable and worthy of different viewpoints. First, understanding the donor\u27s motivation and the success features of funding projects is valuable for fundraisers to have a strategic mindset for decision-making criteria when initiating funding projects to attract more donors and the amount of money. Second, because of the lack of literature focusing on examining the success features for donation-based crowdfunding campaigns, this study fills the gap and further focus on the crowdfunding activations in the context of coronavirus food relief in the US. Therefore, this study provides significant insight to understand the dynamics of the donation-based crowdfunding campaign and provides a recommendation to develop coronavirus relief more efficiently

Adopsi Credibility Index For SMEs (CIS) Model Jepang untuk Indonesia dan ASEAN

. Usaha Kecil dan Menengah (UKM) memiliki peranan penting sebagai tulang punggung dalam perekonomian nasional, namun UKM memiliki hambatan dalam berkembang. Untuk memperbaiki dan mengembangkan UKM, diperlukan alat evaluasi yang komprehensif. Sistem Credibility Index for SMEs (CIS) yang diusulkan oleh Advanced Institute of Industrial Technology (AIIT) Jepang, dapat mengevaluasi aspek multidimensi yang mencakup manajemen, teknis, penjualan, sumber daya manusia, organisasi, serta finansial. Namun, karena adanya perbedaan kondisi dan karakteristik UKM di Jepang dan Indonesia, perlu dikembangkan CIS Local Model untuk Indonesia. Penelitian ini bertujuan untuk merancang sistem evaluasi yang dapat dipergunakan untuk mengukur kondisi internal UKM. Pengembangan CIS Local Model terdiri dari beberapa tahapan, antara lain mengevaluasi CIS Base Model dari Jepang, menyelenggarakan focus group discussion, melaksanakan survei evaluasi terhadap model usulan, dan melakukan diseminasi model usulan. Pada model yang diusulkan terdapat penambahan 17 item evaluasi untuk dipertimbangkan. Sebagai tambahan, kami mengusulkan pengelompokkan item evaluasi ke dalam tiga level klasifikasi berdasarkan tujuan pencarian informasi yang diperlukan dalam rangka berkolaborasi/bekerjasama dengan UKM. Dari hasil uji validitas dan reliabilitas CIS Local Model yang diusulkan telah valid dan reliabel. Dari hasil survey meskipun informasi finansial sulit untuk diperoleh, berdasarkan uji korelasi kebutuhan data terkait finansial dapat didekati berdasarkan data mengenai kapabilitas penjualan dan pengelolaan sumber daya manusia. Oleh karena itu, kualitas pengelolaan sumber daya manusia menjadi faktor penting untuk dikelola pada level UKM

Introduction : From Fundamentals to Advances in Crowdfunding Research and Practice

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Can Title Images Predict the Emotions and the Performance of Crowdfunding Projects?

Crowdfunding is a novel way to raise funds from individuals. However, taking Kickstarter for example, more than 60% of projects failed to reach the funding targets. Hence it is imperative to study how to improve the successfulness of the projects. From a design perspective, we intend to investigate that can the characteristics of title images of the projects on the search page of the crowdfunding website predict the performance of crowdfunding projects. We use objective standards to measure the aesthetic features of the title images. And we introduce emotions as important antecedents for the performance of a project. We used deep learning to extract the emotion metrics from the title images. Analysis results provide significant evidence that aesthetic attributes of images can predict emotion in images, and emotions, such as sadness and contentment, can predict the performance of crowdfunding projects. Our results provide both theoretical and practical values

Crowdfunding para organizaciones de Economía Social: factores de éxito

This paper aims to analyse the key success factors of crowdfunding based on rewards in social projects promoted by Social Economy organisations. For this purpose, we used the information from the Goteo database, which has been compiled manually, and consists of a total of 134 projects, involving around 12,321 investment decisions and a total amount raised of more than one million euros. By using the logit model, the following relevant conclusions have been obtained. First, the variables that have shown a positive effect on the chance of success of crowdfunding projects have been those related to the experience of the founders and the location of the project. Second, regarding the type of entity, associations are more successful than cooperatives, non-profit organizations, and foundations. Finally, the variable related to gender and human capital of the project members don’t have an influence on the success of the project.Este artículo tiene como objetivo analizar los factores clave de éxito del crowdfunding basado en recompensas en proyectos sociales impulsados por organizaciones de Economía Social. Para ello, utilizamos la información de la base de datos Goteo, que ha sido recopilada manualmente, y está formada por un total de 134 proyectos, que suponen alrededor de 12.321 decisiones de inversión y un importe total recaudado superior a un millón de euros. Utilizando el modelo logit, se han obtenido las siguientes conclusiones relevantes. En primer lugar, las variables que han mostrado un efecto positivo sobre las posibilidades de éxito de los proyectos de crowdfunding han sido las relacionadas con la experiencia de los fundadores y la ubicación del proyecto. En segundo lugar, en cuanto al tipo de entidad, las asociaciones tienen más éxito que las cooperativas, las organizaciones sin fines de lucro y las fundaciones. Finalmente, la variable relacionada con el género y el capital humano de los miembros del proyecto no influye en el éxito del proyecto.Escuela de Estudios CooperativosFac. de Ciencias Económicas y EmpresarialesTRUEpu

FENOMENA PERKEMBANGAN CROWDFUNDING DI INDONESIA

Crowdfunding is an internet-based financial intermediation platform that collects funds from the general public to finance a project or business unit. This study aims to determine the development of crowdfunding in Indonesia, as well as how the development of Indonesian crowdfunding when compared to Asian countries. This Research is a descriptive qualitative study with literature studies. The results of this study can be concluded that the development of crowdfunding platforms in Indonesia is mostly Debt Based. Indonesian society, especially in urban society, they still have not utilized it maximally because there is minimum of literacy related to crowdfunding as alternative funding. The number of crowdfunding in Indonesia compared to other Asian countries, namely India and Malaysia is quite competitive. However, in terms of the percentage level of entrepreneurship, Indonesia is still far behind.Keywords : , , ,

Crowdfunding and Museums:A Field Trip Exemplar in the United Kingdom

This article sketches a project designed for an undergraduate course dealing with social contexts of entrepreneurship. The learning activity asks students to devise a reward-based crowdfunding campaign for a museum. The project relies on a field trip to a museum where students gather a better understanding of fiscal and brand visibility challenges currently unsettling these types of organizations. The project draws on intra and extra classroom activities that integrate innovative trends in entrepreneurship teaching, bridging theory, and real-life applications. The exercise motivates students to design solutions, develop collaborations, and cocreate value processes with the organization and diverse actors. The activities span over a 4-week period with tasks prior, during, and after the museum field trip, culminating with a presentation of a crowdfunding campaign. The pedagogical value of this exercise relates to students cocreating entrepreneurial action with a client/entrepreneurial organization within a resource-constrained environment, which motivates the design of innovative crowdfunding campaigns and empathizes with the entrepreneurial demands placed on cultural organizations. Cultural, social, and creative problem-solving competencies for working in international and multidisciplinary teams around crowdfunding can be expected as outcomes. This exercise can be advantageous for courses dealing with the multifaceted dynamics of social contexts of entrepreneurship