Relationship Between Entrepreneurial Motivation and Crowdfunding Success Based on Qualitative Analysis-Based on Kickstarer Website Data

Abstract

The entrepreneurial motivation is divided into extrinsic rewards motivation, intrinsic rewards motivation and motivation of taking social responsibility from the perspective of proself and prosocial as well as egoism and altruism. Using the information and data of 300 startup technology companies on the kickstarer website as an example, the research studies the relationship between entrepreneurial motivation and crowdfunding success through qualitative analysis and multiple regression. Extrinsic rewards motivation and motivation of taking social responsibility have positive effects on actual amount and backers, but has negative effect on the proportion of actual amount and target amount. When extrinsic rewards motivation and intrinsic rewards motivation work together, extrinsic rewards motivation has negative effect on crowdfunding success, while intrinsic rewards motivation has significantly positive effect on crowdfunding success, with backers preferring startups with intrinsic rewards motivation and no extrinsic rewards motivation. And when startups in start-up technology businesses have both intrinsic rewards motivation and motivation of taking social responsibility, intrinsic rewards motivation has a positive impact on crowdfunding success, while motivation of taking social responsibility has had insignificant impact on crowdfunding success. When the three motivations worked together, intrinsic rewards motivation positively influenced crowdfunding success, while the extrinsic rewards motivation and the motivation of taking social responsibility had a negative impact on the success of the crowdfunding.