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Dr. Ulrich Bretschneider

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+41 71 224 3800

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get_appMichael Marcin Kunz, Ulrich Bretschneider, Jan Marco Leimeister
Buchkapitel
Crowdfunding unterstützt neue Start-ups dabei, den Finanzierungsbedarf der ersten Unternehmensphase zu überwinden. Dieser Bedarf wird über die Unterstützung einer Vielzahl an Geldgebern mit kleinen Geldbeträgen realisiert. Das Ziel dieses Beitrages ist, den aktuellen Stand der Erfolgsfaktorenforschung im reward-based Crowdfunding zu reflektieren und auf Basis einer qualitativen Expertenbefragung um noch nicht betrachtete Aspekte zu erweitern. Durch dieses Vorgehen erhalten Projektinitiatoren einen Katalog an die Hand, der ihnen dabei hilft die Erfolgschancen eigener Kampagnen zu steigern.

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Increasingly, firms follow the strategy of open business model innovation via the Internet. In this form of digital innovation management, firms make use of Internet platforms that allow them to integrate external customers and other stakeholders for (re-)innovation of their business models. However, the used IT tools on these Internet platforms suffer from not being able to merge the content of multiple users in an adequate way, thus the resulting business models suffer from low degrees of quality. Against this backdrop, in this research, we propose to equip these Internet platforms with a wiki technology. This would allow users to add to each other’s content, to make changes or to correct mistakes. In our action design research (ADR), we could empirically validate that this leads to a higher quality in terms of business models’ degree of elaboration. Since research that focusses on the design of Internet-based open BMI is still neglected, our research contributes to the literature base by being the first that answers ongoing open calls for research on this phenomenon of interest.

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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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get_appIvo Blohm, Shkodran Zogaj, Ulrich Bretschneider, Jan Marco Leimeister
Wissenschaftlicher Artikel
Crowdsourced tasks are very diverse – and so are platform types. They fall into four categories, each demanding different governance mechanisms. The main goal of microtasking crowdsourcing platforms is the scalable and time-efficient batch processing of highly repetitive tasks. Crowdsourcing platforms for information pooling aggregate contributions such as votes, opinions, assessments and forecasts through approaches such as averaging, summation, or visualization. Broadcast search platforms collect contributions to solve tasks in order to gain alternative insights and solutions from people outside the organization, and are particularly suited for solving challenging technical, analytical, scientific, or creative problems. Open collaboration platforms invite contributors to team up to jointly solve complex problems in cases where solutions require the integration of distributed knowledge and the skills of many contributors. Companies establishing crowdsourcing platforms of any type should continuously monitor and adjust their governance mechanisms. Quality and quantity of contributions, project runtime, or the effort for conducting the crowdsourcing project may be good starting points.

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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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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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Wissenschaftlicher Artikel
To profit from crowdsourcing, organizations can engage in four different approaches: microtasking, information pooling, broadcast search, and open collaboration. This article presents 21 governance mechanisms that can help organizations manage their crowdsourcing platforms. It investigates the effectiveness of these governance mechanisms in 19 case studies and recommends specific configurations of these mechanisms for each of the four crowdsourcing approaches. Also, it offers guidance to organizations that host a crowdsourcing platform by providing recommendations for implementing governance mechanisms into their platforms and building up governance capabilities for crowdsourcing.

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Incentive-based forms of crowdfunding – such as reward-, equity- and lending-based crowdfunding – are becoming increasingly popular. However, research that studies backers’ motivations for funding in these environments is still in an embryonic state, revealing an inconsistent and narrow picture. The few existing studies are largely guided by the idea that backers are mainly egoistically motivated and do not have prosocial motives. We developed a research model that describes backers’ motivation and conducted an empirical study to examine this model. Results indicate that backers indeed have several self-interest motivations for funding: prospect of a reward; expectation of recognition from others; to lobby a certain project in the hopes of its fruition; and to develop their image. However, some backers are also prosocially motivated in that they develop feelings of liking for a certain venture and/or project team. Furthermore, we found evidence that herding has a significant moderating effect on backers’ reward motivation. Strategic IS researchers as well as crowdfunding practitioners can draw on our findings to systematically design, implement, and evaluate potential incentive systems that respond to reward-, recognition-, lobbying-, image- and liking-motives and thereby attract the crowd more effectively to invest in ventures presented on incentive-based crowdfunding systems.

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Firms host online communities for commercial purposes, for example in order to integrate customers into ideation for new product development. The success of these firm-hosted online communities depends entirely on the cooperation of a high number of customers that constantly produce valuable knowledge for firms. However, in practice, the majority of successfully implemented communities suffers from stagnation and even a decrease of member activities over time. Literature provides numerous guidelines on how to build and launch these online communities. While these models describe the initial steps of acquiring and activating a community base from scratch very well and explicitly, they neglect continuous member activation and acquistion after a successful launch. Against this background, the authors propose the Community Fostering Reference Model (CoFoRM), which represents a set of general procedures and instruments to continuously foster member activity. In this paper, the authors present the theory-driven design as well as the evaluation of the CoFoRM in a practical use setting. The evaluation results reveal that the CoFoRM represents a valuable instrument in the daily working routine of community managers, since it efficiently helps activating community members especially in the late phases of a community’s lifecycle.

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Wissenschaftlicher Artikel
Start-ups often face the challenge of a shortage of capital, the so-called funding gap, which can be overcome by raising small amounts of money from a large number of individuals. As crowdfunding suffers from a continuous rise in failure rates, the aim of this article is to contribute to the research concerning success factors in reward-based crowdfunding campaigns by focusing on signaling theory. Based on data retrieved from the crowdfunding platform Kickstarter, our results indicate that social ties, investment preparation and presentation, the supply of multiple rewards as well as endeavors to communicate and interact with the crowd positively influence the probability of success of a reward-based crowdfunding campaign. In contrast, the funding goal, a campaign’s runtime and the estimated time of delivery for the rewards have a negative impact on the successful completion of a campaign.

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