Now showing 1 - 10 of 13
  • Publication
    Designing for Crowdfunding Co-creation: How to Leverage the Potential of Backers for Product Development
    ( 2020-01-03)
    Lipusch, Nikolaus
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    Dellermann, Dominik
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    Bretschneider, Ulrich
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    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.
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    Scopus© Citations 19
  • Publication
    Radically Rethinking the Way Crowdfunding Works: The Case of Jumpstartfund and the Hyperloop
    ( 2019-11-21)
    Lipusch, Nikolaus
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    Dellermann, Dominik
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    Bretschneider, Ulrich
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    In this research, we explore the unique case of JumpStartFund, a new crowdfunding platform that is used to develop the Hyperloop project. To this end, we employ an in-depth single case study to examine the participation architecture of the platform as well as the Hyperloop campaign content, based on which we derive a new crowdfunding model. The derived crowdfunding model differs from existing crowdfunding models in that it allows entrepreneurs to develop their business with the crowdmore actively. Our research has important implications for research and practice. First, we introduce a new crowdfunding model that expands the boundaries of existent models. Second, we explain how our model helps to more efficiently leverage the potential inherent in the crowd thereby redefining entrepreneurial success within crowdfunding. Third, we discuss how our findings contribute to existent research within the context of crowdsourcing.
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    Scopus© Citations 1
  • Publication
    Radically rethinking the way crowdfunding works: the case of JumpStartFund and the Hyperloop
    ( 2019)
    Lipusch, Nikolaus
    ;
    Dellermann, Dominik
    ;
    ;
    Bretschneider, Ulrich
    ;
    In this research, we explore the unique case of JumpStartFund, a new crowdfunding platform that is used to develop the Hyperloop project. To this end, we employ an in-depth single case study to examine the participation architecture of the platform as well as the Hyperloop campaign content, based on which we derive a new crowdfunding model. The derived crowdfunding model differs from existing crowdfunding models in that it allows entrepreneurs to develop their business with the crowdmore actively. Our research has important implications for research and practice. First, we introduce a new crowdfunding model that expands the boundaries of existent models. Second, we explain how our model helps to more efficiently leverage the potential inherent in the crowd thereby redefining entrepreneurial success within crowdfunding. Third, we discuss how our findings contribute to existent research within the context of crowdsourcing.
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  • Publication
    Design principles for a hybrid intelligence decision support system for business model validation
    (Routledge, 2018)
    Dellermann, Dominik
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    Lipusch, Nikolaus
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    One of the most critical tasks for startups is to validate their business model. Therefore, entrepreneurs try to collect information such as feedback from other actors to assess the validity of their assumptions and make decisions. However, previous work on decisional guidance for business model validation provides no solution for the highly uncertain and complex context of early-stage startups. The purpose of this paper is, thus, to develop design principles for a Hybrid Intelligence decision support system (HI-DSS) that combines the complementary capabilities of human and machine intelligence. We follow a design science research approach to design a prototype artifact and a set of design principles. Our study provides prescriptive knowledge for HI-DSS and contributes to previous work on decision support for business models, the applications of complementary strengths of humans and machines for making decisions, and support systems for extremely uncertain decision-making problems.
  • Publication
    The Future of Human-AI Collaboration: A Taxonomy of Design Knowledge for Hybrid Intelligence Systems
    ( 2019)
    Dellermann, Dominik
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    Calma, Adrian
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    Lipusch, Nikolaus
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    Weber, Thorsten
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    Weigel, Sascha
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  • Publication
    Managing Initial Coin Offerings: Towards a Taxonomy of ICO Processes
    ( 2019)
    Lipusch, Nikolaus
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    Dellermann, Dominik
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    Initial Coin Offerings are a new type of crowdbased fundraising mechanism that uses the blockchain to issue tokens to a crowd of people in exchange for funds that blockchain start-ups use to develop their business. Unfortunately, due to the recency of this new phenomenon, there is no systematic understanding of the ICO process and its underlying process characteristics. However, companies engaging in ICOs should be able to evaluate and choose the right process steps to best achieve their goal. Against this background, we develop a taxonomy for ICO processes. In contrast to previous work, this classification scheme focuses exclusively on the processual nature of ICOs and its underlying mechanisms.
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  • Publication
    Building Your IoT Ecosystem: Proposing the Hybrid Intelligence Accelerator
    (Books on Demand, 2017)
    Dellermann, Dominik
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    Lipusch, Nikolaus
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    Buxmann, Peter
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    Curan, Aidan Thomas
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    Eichler, Gerald
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    Jansen, Slinger
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    Kude, Thomas
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    Popp, Karl Michael
  • Publication
    New Ways to Consider: Towards a Design Theory for Hybrid Intelligence Accelerators
    ( 2017)
    Dellermann, Dominik
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    Lipusch, Nikolaus
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    Setting a new venture is a challenging tasks which leads to dramatic numbers of failures. To support early stage ventures and accelerate their growth support service providers such as business incubators and accelerators gain increasing popularity. Yet, in particular the latter one is still on its rise and current practices of supporting startups have several limitations such as limited capabilities, networks or are faced with the bound rationality of individual mentors. To overcome these deficiencies we propose the Hybrid Intelligence Accelerator as a novel service system to support early stage startups through connecting multiple actors via an online platform and combining the idiosyncratic benefits of collective and artificial intelligence. In the context of a design science research approach we developed an initial prototype version of the Hybrid Intelligence Accelerator and provide insights in the procedures as well as design principles. We thus provide prscriptive knowledge abou novel forms of startup support service systems that might constitute a blueprint for future progress in the fields of entrepreneurship and information systems.
  • Publication
    Finding the Unicorn: Predicting Early Stage Startup Success through a Hybrid Intelligence Method
    ( 2017)
    Dellermann, Dominik
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    Lipusch, Nikolaus
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    Popp, Karl Michael
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    Artificial intelligence is an emerging topic and will soon be able to perform decisions better than humans. In more complex and creative contexts such as innovation, however, the question remains whether machines are superior to humans. Machines fail in two kinds of situations: processing and interpreting “soft” information (information that cannot be quantified) and making predictions in “unknowable risk” situations of extreme uncertainty. In such situations, the machine does not have representative information for a certain outcome. Thereby, humans are still the “gold standard” for assessing “soft” signals and make use intuition. To predict the success of startups, we, thus, combine the complementary capabilities of humans and machines in a Hybrid Intelligence method. To reach our aim, we follow a design science research approach to develop a Hybrid Intelligence method that combines the strength of both machine and collective intelligence to demonstrate its utility for predictions under extreme uncertainty.