ENGLISH

The Relevance of Crowdfunding: The Impact on the Innovation Process of Small Entrepreneurial Firms

By Nadine Scholz (auth.)

Book information

Publisher
Gabler Verlag
Year
2015
ISBN
978-3-658-09836-0, 978-3-658-09837-7
DOI
10.1007/978-3-658-09837-7
Language
english
Format
PDF
Filesize
2 MB (1670467 bytes)
Edition
1
Pages
86\93
Time added
2015-07-18 18:00:00
Innovation/Technology Management; Entrepreneurship

Description

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.

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