Carl Adams, University of Portsmouth
Crowdfunding as it is applied across web 2.0 is a novel approach to raising funds for a variety of projects. However crowdfunding as a concept, or indeed the application of technology and media towards crowdfunding, is not necessarily new. This paper explores a range of crowdfunding examples, including some historical predating internet technologies as well as more current examples, to identify some generic cases of crowdfunding: Four categories are identified from which the paper highlights the main attributes, management issues, motivations for stakeholders and policy implications. The paper uses mixed methods research including a novel crowdsourcing set of activities to evaluate hosted crowdfunding calls and interviews of specific examples. The paper highlights some emergent themes from the crowdfunding cases, particularly that of co-creation of which ‘funding’ can be considered as only one aspect. The paper also explores relevant theoretical bases to consider crowdfunding and suggests likely fruitful theoretical avenues for further research. The paper also briefly collates together guidance on conducting crowdfunding assignments.
