Information Technology Reference
In-Depth Information
Table 10.1
Motivations for participating in crowdfunding projects. Creators and supporters
Motivations for participating in crowdfunding actions
Creators
Supporters
1. The expectation of attracting founders
x
2. Get an overall control over their works
x
3. Helping testing, promoting and marketing their products, in gaining
a better knowledge of their consumer's tastes and in creating new
products or services altogether
x
4. Being part of a network which have similar interests and forming
connections
x
x
5. The chance to expand one's own personal network
x
x
6. Personal identifi cation with the project's subject and its goals
x
7. Enjoying contributing to an innovation or being among the pioneers
of new technology or business
x
8. Support a cause
x
9. To help others
x
10. Contribution to a societal important mission x
11. To be rewarded with a material object or an experience x
Based on Bellefl amme et al. (
2010
), Gerbner and Hui (
2012
) and Hemer (
2011
cited by Willems
2013
)
part of something bigger than oneself can be considered one of the causes of the
success of online crowdfunding platforms, environments where people around the
world participate with ease in a collective aim.
10.4
Online Crowdfunding Platforms
There are a multitude of online crowdfunding platforms around the world that we
can fi nd easily by using a search engine or by utilising any directory such as global
databases made by CrowdCafe or CrowdingIn, a directory created by the indepen-
dent charity named Nesta, which facilitates individuals or organisations in the
United Kingdom to choose the crowdfunding platform which better suits their
project.
Crowdfunding platforms provide possibilities that are worth to know with detail
when designing a project proposal. Depending on how creators use the space dis-
posed for the projects, they will reach their objective or not. Mollick (
2014
: 8)
identifi ed quality indicators to predict the success of crowdfunding projects. Among
them, he points out: the inclusion of video, doing quickly updates, not including
spelling mistakes and having a reasonable number of Facebook friends.
Mollick and Nanda (
2014
) discovered a pattern regarding the characteristics of
projects most liked by the crowds: they offer multiple tiers of rewards and provide
more updates. To guide the design of crowdfunding support tools, Hui et al. (
2014
: 1)
