The role of geographical clusters in the success of reward-based crowdfunding campaigns

Abstract

This article studies whether some salient characteristics of the geographical area in which a crowdfunding campaign is launched affect its success. Drawing on a data set of 792 crowdfunded projects, we conduct an empirical study aimed at studying the role played by geographical clusters (GCs) in fostering the crowdfunding of new entrepreneurial ventures. The results offer insights into the phenomenon of crowdfunding and shed light on the role of GCs in the success of reward-based crowdfunding campaigns of early-stage entrepreneurial projects.