The emergence of well-being in crowdfunding: a study of entrepreneurs and backers of reward and donation campaigns

Abstract

PurposeThe current study explores the emergence of well-being, a fundamental human goal, in the crowdfunding process by investigating entrepreneurs and backers' interactions within reward and donation campaigns.Design/methodology/approachThe study is based on interviews with 64 entrepreneurs and 50 backers of rewards and donation campaigns.FindingsThe analysis revealed that the crowdfunding experience triggers all three aspects of well-being––hedonic, eudaimonic and social––for both entrepreneurs and backers. These aspects emerged in the course of the campaign's life stages.Originality/valueThe study establishes well-being as a core aspect of entrepreneur–backer interaction and shows how entrepreneurs' well-being feeds back into backers' well-being and vice versa. Furthermore, it illustrates how well-being, in its various aspects, develops during the different stages of the crowdfunding process to facilitate a full well-being experience and a sense of accomplishment for both types of participants.