Nadine Scholz shows that crowdfunding potentially shortens the development cycle of new products, thus enabling an earlier market entry. Hence, crowdfunding serves as a multifaceted early-stage support instrument for innovation implementation facilitated by the crowd's resources. It not only provides upfront cash for product development and production, more importantly it enables a firm to show traction through the validation of the market demand that is based on the crowd's function as information multiplicator generating public exposure and feedback.
|Publisher:||Springer Fachmedien Wiesbaden|
|Product dimensions:||5.83(w) x 8.27(h) x 0.01(d)|
About the Author
Nadine Scholz received her Master’s degree in Innovation Management and Entrepreneurship from Manchester Business School, UK.
Table of ContentsThe Crowdfunding Phenomenon.-Perspectives of Crowdfunding on the Innovation Process.-Research Design for the Empirical Study.-Critical Actors and Their Drivers in the Crowdfunding Ecosystem.- New Dynamics in the Innovation Process.