Crowdfunding networks: Structure, dynamics and critical capabilities
شبکه های سرمایه گذاری گسترده: ساختار ، پویایی و قابلیت های حیاتی-2020
Crowdfunding platforms – bringing together entrepreneurs, investors and customers – have grown rapidly over recent years. Crowdfunding networks are open, multisided markets that match founders and funders on crowdfunding platforms. The unique structure of these networks blends social and business networks and comprises a complex array of closer and more distant network relationships. Research investigating the chaacteristics of these open and highly dynamic network structures is in its infancy and capabilities critical to operating in them are under-explored. Thus, this study follows an abductive reasoning process to understand critical capabilities for influencing and orchestrating crowdfunding networks. It draws on a thematic content analysis of 1484 blog entries written by crowdfunding experts and a comprehensive review of (i) literature on crowdfunding networks and (ii) five literature streams dealing with dynamic capabilities in evolving network structures. As a substantial contribution, this research delineates a portfolio of four collaborative capabilities – visioning, dynamic business modelling, engaging, and attaining social continuity – essential for operating successfully in crowdfunding networks. These new collaborative capability sets assume a new understanding of agency as a continuum of managerial and collective agency, an understanding that is novel within the network management and the capabilities literature.
Keywords: Crowdfunding | Platform businesses | Dynamic capabilities | Network management | Collaborative economy
The copycat conundrum: The double-edged sword of crowdfunding
معمای کپی برداری: شمشیر دو لبه سرمایه گذاری جمعی-2020
Crowdfunding has proliferated over the past decade, creating various platforms on which new entrepreneurs signal their value to potential backers in order to attract funding. The boons of crowdfunding have blinded both practitioners and scholars alike, leaving potential negative unintended consequences underexplored. Copycats, for example, are a potential problem for crowdfunding ventures. In this article, we examine the consequences of signaling to these ill-intentioned, opportunistic audiences on crowdfunding platforms and propose a solution to aid novice entrepreneurs in making a more informed decision on platform selection. Specifically, we provide guidance on when to select an open, semi-open, or closed crowdfunding platform to reduce the impact of copycats. We conclude with prescriptive advice to novice entrepreneurs.
KEYWORDS : Crowdfunding | Entrepreneurship | Copycats | Patents | Speed to market | Inimitability
Migrant entrepreneurship and markets : The dynamic role of embeddedness in networks in the creation of opportunities
کارآفرینی و بازارهای مهاجران : نقش پویای تعبیه شده در شبکه ها در ایجاد فرصت ها-2020
Situated at the intersection of urban and economic geography, this paper develops and illustrates a three-step research agenda to further critical understanding of relations between crowdfunding and cities. First, we explore how crowdfunding is enrolled in shifting programmes of urban governance that valorize entrepreneurship in North America and Europe in particular. When invoked in urban governance, crowdfunding is increasingly the ‘go to’ method for mobilizing the cash, capital and collective enthusiasm necessary for social entrepreneurship and civic renewal in cities. Second, we offer a situated, qualitative case study account of crowdfunding in Berlin. In contrast with existing research, we show how a specific urban context contributes to shaping the distinctive crowdfunding ecologies that emerge in a city. Third, we interrogate the multiplicity and diversity of crowdfunding- city relations, identifying and analyzing three distinctive ecologies that have emerged to date in Berlin. While crowdfunding is indeed enabling social entrepreneurship in particular ways in Berlin, it also contributes to capitalizing speculation in booming real-estate developments and facilitates the solidarity economies of community groups and charities.
Keywords: Crowdfunding | Urban governance | Social entrepreneurship | Real-estate speculation | Solidarity economies