Technology environment and crowdfunding platforms in Brazil

Abstract

Purpose The purpose of this paper is to analyze the influence of the technological segment of the general environment in crowdfunding platforms’ operations in Brazil. Design/methodology/approach By means of a qualitative and exploratory approach, the research comprised the execution of a panel of experts via semi-structured interview scripts. For the data analysis, a content analysis with the software NVivo 9 was conducted. Findings One of the main results concerning this influence in the industry would be the expansion of internet access as key factor to scalability of operations and the use of analytics for developing markets. In addition, the cultural aspect emerges as facilitator for platforms access, thus the influence of technological segment cannot be analyzed without considering the cultural segment of the general environment. Research limitations/implications Research limitations relate to the qualitative approach; although valuable insights were obtained for strategic policy in crowdfunding platforms, generalization is not possible. Moreover, the limited number of experts in the panel who agreed to participate may have been an obstacle for richer results. Practical implications Among some implications to the strategic management of crowdfunding platforms in the country are investment prioritization in analytics, governance and transparency of operations and marketing. Analytics will enable more effective insertion in supporting communities and better selection strategies of projects with attributes of success; governance and marketing will aid platforms to reduce cultural resistance on the part of the potential users. Social implications Regulations regarding crowdfunding platforms as well as socio-cultural segment of the strategic environment are key aspects in fostering co-creation among participants and in bringing scale to crowdfunding operations; they may be mediated by technology. Thus, analytics along with marketing initiatives related to addressing shared practices in communities will have a significant impact on the adoption of crowdfunding. Furthermore, such task should be more intense than in developed economies where internet infrastructure and quality access are widespread. Originality/value Although various contributions have been made to the theme of crowdfunding, there has not been identified any paper addressing future influences of the strategic general environment, such as the technological segment, to the operations of crowdfunding platforms, especially in the Brazilian context.