Investigating the effects of project scales on the patterns and performance of successfully funded, technology-oriented innovative crowdfunding projects

Abstract

Remarkably successful crowd-funded projects have led to crowdfunding (CF) emerging as a novel channel for realizing innovative ideas. The use of CF has therefore attracted both academic and business interest. This study investigated technology- and innovation-oriented CF projects that have successfully received funding from CF platforms in China. The research focused on determining the effects of project scales on CF patterns and outcome. A total of 100 relevant CF projects that completed their funding activities from Demohour.com were analyzed. The results showed that small-sized and medium-to-large-sized CF projects behaved similarly in content provision. Regarding the outcome, although medium-to-large-sized CF projects attracted more browsers than small-sized projects did, they did not outperform the small-sized projects in other observed indicators statistically. Applying the prediction models to the portion of CF funding achievements revealed that the social capital perspective provided stronger explanatory power for successful, small-sized, technology-and innovation-oriented CF projects.