Designing for Crowdfunding Co-creation: How to Leverage the Potential of Backers for Product Development

Item Type Journal paper
Abstract

Crowdfunding is now established as a valid alternative to conventional methods of financing for startups. Unfortunately, to date, research has not investigated how backers can be encouraged to support entrepreneurs beyond funding. The aim of this study is to design and evaluate certain design elements for reward-based crowdfunding platforms that can engage backers in co-creational activities for product development. The study uses a design science research (DSR) approach and the theoretical concept of psychological ownership to inform a new design and then experimentally test that design. The results suggest that the derived artifacts positively influence co-creational activities in crowdfunding and that feelings of psychological ownership play an important mediating role. The contribution of this research is threefold. First, this paper extends crowdfunding’s application potential from merely a method of financing to a method of value creation with customers for product development. Second, the study advances DSR by applying a new DSR approach that shows whether a design performs as hypothesized by theory. Third, this research allows the exploration of backers’ individual behavior as opposed to their collective behavior.

Authors Lipusch, Nikolaus; Dellermann, Dominik; Bretschneider, Ulrich; Ebel, Philipp & Leimeister, Jan Marco
Research Team IWI6
Journal or Publication Title Business & Information Systems Engineering (BISE)
Language English
Keywords Co-creation, Crowdfunding, Design experiment, Design science research
Subjects information management
HSG Classification contribution to scientific community
Refereed Yes
Date 3 January 2020
Volume 62
Number 6
Page Range 483-499
Number of Pages 17
Publisher DOI 10.1007/s12599-019-00628-w
Official URL https://link.springer.com/article/10.1007/s12599-0...
Depositing User Mahei Li
Date Deposited 16 Jan 2021 14:22
Last Modified 14 Feb 2021 10:06
URI: https://www.alexandria.unisg.ch/publications/262049

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Citation

Lipusch, Nikolaus; Dellermann, Dominik; Bretschneider, Ulrich; Ebel, Philipp & Leimeister, Jan Marco (2020) Designing for Crowdfunding Co-creation: How to Leverage the Potential of Backers for Product Development. Business & Information Systems Engineering (BISE), 62 (6). 483-499.

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https://www.alexandria.unisg.ch/id/eprint/262049
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