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Toward a better understanding of crowdfunding, openness and the consequences for innovation

机译：更好地了解众筹，开放和创新的后果

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Crowdfunding is now a commonly used tool for innovating entrepreneurs, yet many unresolved questions surrounding crowdfunding's effect on innovation remain. Often, crowdfunding backers play an active role in the innovation conversation. Thus, crowdfunding can be viewed as one form of open search (actively seeking out ideas from outsiders). Beyond open search, backers also generate word of mouth awareness for the crowdfunded product. Crowdfunding backers can be thought of as the earliest possible adopters, who may be even more valuable than traditional early adopting consumers. In this study, data pertaining to crowdfunded products from the Kickstarter platform is coupled with survey data from the respective innovating entrepreneurs to better understand the effects of elements of crowdfunding on the subsequent market success of the crowdfunded product as well as the innovation focus of the crowdfunding organization. Results indicate that the amount of funding raised during a crowdfunding campaign does not significantly impact the later market performance of the crowdfunded product, while the number of backers attracted to the campaign does. Open search depth (drawing intensely from external sources) enhances product market performance, while open search breadth (drawing from many external sources) induces a radical innovation focus. Interestingly, adverse effects from over-relying on external knowledge sources are not observed. The small size of the crowdfunding organizations in this study is seen as a boundary condition to previous findings of inverse U-shaped performance effects. Finally, the portion of product development complete when crowdfunding impacts the entrepreneurs' subsequent focus on radical innovation.
机译：众筹现在是创新企业家的常用工具，但是围绕众筹对创新的影响，许多悬而未决的问题仍然存在。通常，众筹支持者在创新对话中扮演着积极的角色。因此，众筹可以看作是公开搜索的一种形式（积极寻求外部人士的想法）。除了公开搜索之外，支持者还为众筹产品创造了口碑。众筹支持者可以被认为是最早的采用者，他们可能比传统的早期采用者更有价值。在这项研究中，来自Kickstarter平台的与众筹产品有关的数据与来自各个创新企业家的调查数据相结合，以更好地了解众筹要素对众筹产品后续市场成功的影响以及众筹的创新重点组织。结果表明，众筹活动期间筹集的资金数量不会显着影响众筹产品后来的市场表现，而吸引众筹活动的支持者数量却不会。开放式搜索深度（从外部资源中大量吸引）可以提高产品市场的绩效，而开放式搜索的广度（从许多​​外部资源中获取资源）则引发了根本性的创新重点。有趣的是，没有观察到过度依赖外部知识资源的不利影响。在这项研究中，众筹组织的规模很小，被视为先前反U形绩效影响发现的边界条件。最后，当众筹影响企业家随后对根本创新的关注时，产品开发的部分完成。

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