Success factors for Crowdfunding founders and funders

TL;DR

This study investigates the success factors of crowdfunding projects from both founders and funders perspectives, emphasizing trust and decision-making, through a custom-designed platform to observe real crowdfunding behaviors.

Contribution

It introduces a new platform for observing crowdfunding behaviors and identifies key success factors related to trust and decision-making.

Findings

Trust significantly influences crowdfunding success

Decision-making processes impact funding outcomes

Practical recommendations for practitioners and researchers

Abstract

Crowdfunding has been used as one of the effective ways for entrepreneurs to raise funding especially in creative industries. Individuals as well as organizations are paying more attentions to the emergence of new crowdfunding platforms. In the Netherlands, the government is also trying to help artists access financial resources through crowdfunding platforms. This research aims at discovering the success factors for crowdfunding projects through crowdfunding platforms from both founders and funders perspective. We designed our own website for founders and funders to observe crowdfunding behaviors. Our research will contribute to crowdfunding success factors related to issues of trust and decision making and provide practical recommendations for practitioners and researchers.