Michał Gałkiewicz
 
 
University of Szczecin, ul. Mickiewicza 7, 71-101 Szczecin, Poland
DOI: https://doi.org/10.31410/ITEMA.2018.390

2nd International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2018 – Graz, Austria, November 8, 2018, CONFERENCE PROCEEDINGS published by the Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-13-4

Abstract

This study provides an overview of major characteristics of over 14,000 European projects successfully funded by crowds on the platforms Startnext and Kickstarter. Results suggest that the number of crowd supporters and in direct consequence funding significantly differ for most project categories when comparing these donation and reward based platforms. In particular, projects from the categories food, journalism, music and video projects differ significantly in every dimension. Design, games and technology related projects launched on Startnext and Kickstarter have a comparable funding goal, but reach in significantly shorter campaign duration significantly higher number of supporters on Kickstarter. Comics and photography projects showed similar funding goals and funding amounts, while project founders in the categories art and theater reach higher funding on Startnext. Overall, the comparison of successfully funded European projects from two important platforms reveals relevant differences, thus, understanding them is key for regionally and internationally acting investors, SMEs, founders and their advisors.

Key words
Crowdfunding, crowdsourcing, Startnext, Kickstarter, success
References
Agrawal, A., C. Catalini, and A. Goldfarb, 2015, Crowdfunding: Geography, Social Networks, and the Timing of Investment Decisions, Journal of Economics & Management Strategy 24 (2), p. 253-274.
Courtney, C., Dutta, S., & Li, Y. (2017). Resolving Information Asymmetry: Signaling, Endorsement, and Crowdfunding Success. Entrepreneurship Theory and Practice, 41(2), 265–290. https://doi.org/10.1111/etap.12267
Delivorias, A., 2017, Crowdfunding in Europe: Introduction and State of Play, available at https://www.europarl.europa.eu/RegData/etudes/BRIE/2017/595882/EPRS_BRI(2017)595882_EN.pdf (accessed August 21, 2018).
Dömötör, F., & Dömötör, A. (2015). The Power of the Crowd: Crowdinvesting für kapitalsuchende Unternehmen und Investoren [Ebook] (pp. 2-14). Wien: WKO., available at https://www.jungewirtschaft.at/jw/oesterreich/jw_lf_crowdinvesting_3004.pdf. (accessed August 20, 2018).
Forbes, H., and D. Schaefer, 2017, Guidelines for Successful Crowdfunding, Procedia CIRP 60 (2017), p. 398-403.
Gałkiewicz, D. P., and M. Gałkiewicz, 2018, Crowdfunding Monitor 2018: An Overview of European Projects Financed on Startnext and Kickstarter Platforms between 2010 and mid-2017, Bermag: Szczecin.
Koch, J., and M. Siering, 2015, Crowdfunding Success Factors: the Characteristics of Successfully Funded Projects on Crowdfunding Platforms, ECIS 2015 Completed Research Papers, Paper 106.
Mollick, E., 2014, The Dynamics of Crowdfunding: An Exploratory Study, Journal of Business Venturing 29 (1), p. 1-16.
Zvilichovsky, D., Y. Inbar, and O. Barzilay, 2015, Playing Both Sides of the Market: Success and Reciprocity on Crowdfunding Platforms, Working Paper.
Crowdexpert, 2016, Crowdfunding Industry Statistics 2015-2016: Massolution Crowdfunding Industry 2015 Report, available at https://crowdexpert.com/crowdfunding-industry-statistics/ (accessed August 21, 2018).

galkiewicz_first_evidence_on_differences_in_major_characteristics_of_successfully_crowdfunded_european_projects_via_startnext_and_kickstarter_platforms_pp_390-398

Association of Economists and Managers of the Balkans – UdEkoM Balkan
179 Ustanicka St, 11000 Belgrade, Republic of Serbia