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The Relevance of Crowdfunding

The Relevance of Crowdfunding

Brand
Springer Nature
Manufacturer
N/A
Part Number
0
GTIN
9783658098360
Condition
New
Product Description

Nadine Scholz shows that crowdfunding potentially shortens the development cycle of new products, thus enabling an earlier market entry. Hence, crowdfunding serves as a multifaceted early-stage support instrument for innovation implementation facilitated by the crowd's resources. It not only provides upfront cash for product development and production, more importantly it enables a firm to show traction through the validation of the market demand that is based on the crowd's function as information multiplicator generating public exposure and feedback.

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