Now showing 1 - 5 of 5
  • Publication
    Blueprinting Crowdfunding - Designing a Crowdfunding Service Configuration Framework
    Crowdfunding gained momentum over the last few years. In contrast to traditional forms of funding, the service provision of crowdfunding platforms is performed within service systems. These comprise a complex combination of IT and non-IT services, different stakeholders, and diverging contexts and purposes. The design and operation of such service systems represents a tough challenge. Therefore, we developed a crowdfunding service configuration framework in the form of a morphological box and derived three dominant design patterns by following a design science approach. Therefore, we followed three iterations, which comprise in total twelve expert interviews, three case studies and the analysis of 161 crowdfunding platforms. The configuration framework extends research on crowdfunding and service science by providing insights in how to support the systematic design of crowdfunding service systems, reducing their complexity, and giving a comprehensive overview over their building blocks.
  • Publication
    Managing Disruptive Innovation through Service Systems – The Case of Crowdlending in the Banking Industry
    (Association for Information Systems, 2016-12-11) ; ; ;
    Jakob, Thomas
    ;
    The Internet has affected and partially radically changed the business models of traditional industries. Crowdfunding as a new concept of funding over the Internet by a large crowd has especially gained maturity. Crowdfunding offerings range from funding charitable projects or innovative gadgets to a funding alternative for start-ups or small businesses. Therefore, crowdfunding represents an innovative way to provide liquidity for illiquid markets. With regard to the banking crisis and the growing skepticism toward banks, crowdfunding is seen as a more transparent, democratic, and entertaining way of funding, which makes it highly attractive for banks. A senior innovation manager of The Bank of Switzerland (TBOS), one of Switzerland’s largest and most traditional banks, recognized the disruptive and beneficial potential of crowdlending. By facing strong resentments, he developed the idea of TBOS engaging in crowdlending by collaborating with a start-up by bundling competencies in a service system.
  • Publication
    Modularization of Crowdfunding Services: Designing Disruptive Innovations in the Banking Industry
    (Association for Information Systems, 2015-12-13) ; ; ;
    Crowdfunding represents a disruptive innovation in the banking industry by enabling the exploitation of market segments. Incumbents struggle to utilize this new phenomenon as crowdfunding is based on modules that have not been considered relevant for banking so far. Nevertheless, crowdfunding services are not entirely new compared to traditional banking. We argue that the modular design enables a bank to utilize crowdfunding. Thus, we started an action research project in order to investigate how modularization enables a bank to design crowdfunding services. Findings so far led to the identification of eleven preliminary crowdfunding services and their interconnection within an ecosystem. Our expected contribution will increase the understanding of crowdfunding services by bridging research on modularization, service ecosystems, and crowdfunding, and highlight the handling of disruptive innovations in an established industry. For practice, we provide a way of designing crowdfunding services in an efficient manner while building on already existing competencies.
  • Publication
    An Empirical Taxonomy of Crowdfunding Intermediaries
    (Association for Information Sytems, 2014-12-15) ; ;
    Due to the recent popularity of crowdfunding, a broad magnitude of crowdfunding intermediaries has emerged, while research on crowdfunding intermediaries has been largely neglected. As a consequence, existing classifications of crowdfunding intermediaries are conceptual, lack theoretical grounding, and are not empirically validated. Thus, we develop an empirical taxonomy of crowdfunding intermediaries, which is grounded in the theories of two-sided markets and financial intermediation. Integrating these theories, we develop a crowdfunding intermediation model that we use as foundation for performing cluster analysis with data of 127 intermediaries. We identify three generic archetypes of crowdfunding intermediaries, which differ in their value proposition: Hedonism, Altruism, and For Profit. Our crowdfunding intermediation model and our empirical taxonomy improve our understanding of crowdfunding by showing how crowdfunding intermediaries manage financial intermediation and digitally transform exchange relations between capital-giving and -seeking agents in two-sided online markets. For practice, our research may help characterize the crowdfunding industry.
  • Publication
    Crowdfunding: Outlining the New Era of Fundraising
    (Springer International Publishing, 2015) ;
    Bretschneider, Ulrich
    ;
    ; ; ;
    Brüntje, Dennis
    ;
    Gajda, Oliver
    Crowdfunding is increasingly gaining attention in theory and practice. Various platforms have emerged, offering entrepreneurs and project owners the possibility to raise money from an undefined group of online users (“crowd”). In this article we aim to provide a deeper understanding of the rise of crowdfunding as an alternative funding opportunity by discussing its main characteristics, the market development, different classification approaches, its fields of application and by providing directions for future research.
    Scopus© Citations 55