英文摘要 |
More recently, some entrepreneurs have started to rely on the Internet to directly seek financial help from the general public (the "crowd") instead of approaching financial investors such as business angels, banks or venture capital funds (Lambert and Schwienbacher, 2010). This technique, called "crowdfunding", has made possible to seek capital for project-specific investments as well as for starting up new ventures. In this study, we discuss crowdfunding as an alternative way of financing projects, with a focus on cultural and creative events. The structure of the remaining chapter is as follows. The next section provides a description of crowdfunding and discusses existing research on the topic. The follow-up section puts crowdfunding into perspective of entrepreneurial finance and thereby describes factors affecting entrepreneurial preferences for crowdfunding as source of finance. Thereafter, we elaborate different business models used to raise money from the crowd, in particular with respect to the structure of the crowdfunding process. Building on this discussion, we present and discuss extensively a case study, namely One Pavilion To Go (a Taiwan cultural and creative events). Finally we conclude with recommendations for entrepreneurs seeking to make use of crowdfunding and with suggestions for researchers about yet unexplored avenues of research. |