Designing for Crowdfunding Co-creation
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RESEARCH PAPER
Designing for Crowdfunding Co-creation How to Leverage the Potential of Backers for Product Development Nikolaus Lipusch • Dominik Dellermann • Ulrich Bretschneider • Philipp Ebel • Jan Marco Leimeister
Received: 15 September 2018 / Accepted: 30 October 2019 Ó Springer Fachmedien Wiesbaden GmbH, ein Teil von Springer Nature 2020
Abstract 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
Accepted after three revisions by Oliver Hinz. N. Lipusch D. Dellermann J. M. Leimeister Information Systems, University of Kassel, Pfannkuchstraße 1, 34121 Kassel, Germany U. Bretschneider Corporate Entrepreneurship and Digitalization in Family Businesses, University of Witten/Herdecke, AlfredHerrhausenstr. 50, 58448 Witten, Germany P. Ebel (&) J. M. Leimeister Institute of Information Management, University of St. Gallen, Mu¨ller-Friedberg-Strasse 8, 9000 St. Gallen, Switzerland e-mail: [email protected]
theory. Third, this research allows the exploration of backers’ individual behavior as opposed to their collective behavior. Keywords Crowdfunding Co-creation Design science research Design experiment
1 Introduction Crowdfunding has gained considerable popularity in recent years (Simons et al. 2019). One of the most popular types is reward-based crowdfunding, in which people can invest money in a venture in exchange for a non-monetary return (Kuppuswamy and Bayus 2017). Interestingly, more and more startups as well as established firms use this form of crowdfunding to showcase their product prototypes to potential customers and to collect money for developing and launching these product prototypes. Crowdfunding, as well as crowdsourcing (Hammon and Hippner 2012), offers great potential for co-creational activities (Majchrzak and Malhotra 2013) between entrepreneurs and backers (i.e., funders of crowdfunding campaigns). For instance, Gerber and Hui (2013) found that one important motive for people to participate in rewardbased crowdfunding is ‘‘to m
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