Conclusion and Discussion
Crowdfunding is an evolving phenomenon and currently characterised by high dynamics as this research shows. While it has its roots in the analogue world where Beethoven or Mozart have financed their concerts through public subscription, the global digital
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Nadine Scholz
The Relevance of Crowdfunding The Impact on the Innovation Process of Small Entrepreneurial Firms
Nadine Scholz Manchester, UK
ISBN 978-3-658-09836-0 ISBN 978-3-658-09837-7 (eBook) DOI 10.1007/978-3-658-09837-7 Library of Congress Control Number: 2015939442 Springer Gabler © Springer Fachmedien Wiesbaden 2015 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper Springer Gabler is a brand of Springer Fachmedien Wiesbaden Springer Fachmedien Wiesbaden is part of Springer Science+Business Media (www.springer.com)
Acknowledgements I would like to thank my supervisor Dr. Paul Dewick at the Manchester Business School for his excellent support and guidance throughout my dissertation project. I would also like to give special thanks to Ernest Jenavs, whose assistance and feedback was invaluable for continually improving this work as well as connecting with other crowdfunded small firms, which helped to contribute to this research. In the same vein, I would like to thank my interview partners for their willingness to openly share their experience and thoughts, especially the UK-based crowdfunded venture Nifty Drives for their cooperation. Last, but not least, I am very grateful for the generous support that I received from many people including my family, friends and network contacts; people who were open for discussion and feedback, which allowed me to take another step forward on the journey of my life. In this regard, I would like to express a very special ‘Thank you’ to Manuel who significantly helped me in the creation of this work. Nadine Scholz
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Abstract Crowdfunding is a nascent ecosystem for early-stage innovation and finance enabling businesses to utilise the Crowd to obtain resources such as ideas, money and feedback on the product; overall connecting businesses with potential customers in an environment of collective decision-making. This research aims to explore the impact of Crowdfunding on the innovation process of small e
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