A Case Study into the Motivations, Challenges and Opportunities in Crowdfunding: An Entrepreneurial Perspective
A Case Study into the Motivations, Challenges and Opportunities in Crowdfunding: An Entrepreneurial Perspective
Author(s): Chun Yan Wang, Kate Johnston, Maeve CaraherSubject(s): Business Economy / Management, Sociology, Methodology and research technology, Management and complex organizations, Economic development, Marketing / Advertising, Human Resources in Economy, ICT Information and Communications Technologies
Published by: New Millennium Discoveries Ltd
Keywords: Crowdfunding; Innovation; Case Study; Entrepreneurship;
Summary/Abstract: This case describes the motivation, challenges, and opportunities the founder of an innovative cycling product experienced as he attempted to use crowdfunding as a platform to establish and grow his business idea. The case begins with a brief overview of how the entrepreneur came up with the idea and the journey from product concept to product launch. The decision to crowdfund the idea is explained and the challenges and opportunities in trying to navigate the crowdfunding arena are explored; from selecting a suitable crowdfunding platform to the launch and management of the final campaign. Despite the fact the campaign failed to raise the funding target, the media coverage from the crowdfunding campaign led to a number of significant business avenues, which ultimately helped launch the product onto the marketplace. The case examines these events and closes as the entrepreneur reflects on the lessons learnt from the experience and his advice going forward to anyone considering crowdfunding.
Journal: International Journal of Management and Applied Research
- Issue Year: 8/2021
- Issue No: 1
- Page Range: 1-17
- Page Count: 17
- Language: English