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Crowdfunding: Outlining the New Era of Fundraising

  • Michael M. GierczakEmail author
  • Ulrich Bretschneider
  • Philipp Haas
  • Ivo Blohm
  • Jan Marco Leimeister
Part of the FGF Studies in Small Business and Entrepreneurship book series (FGFS)

Abstract

Crowdfunding is increasingly gaining attention in theory and practice. Various platforms have emerged, offering entrepreneurs and project owners the possibility to raise money from an undefined group of online users (“crowd”). In this article we aim to provide a deeper understanding of the rise of crowdfunding as an alternative funding opportunity by discussing its main characteristics, the market development, different classification approaches, its fields of application and by providing directions for future research.

Keywords

Crowdfunding Crowdinvesting Crowdsourcing Crowdfunding types Crowdfunding platforms 

Notes

Acknowledgements

Our thanks go to Oliver Englisch for his excellent support and valuable comments. This paper was developed within the project “The Open Innovation Project (IOIT)”, funded by the European Union INTERREG IVB NWE Programme (Funding code: 166F-IOIT).

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Copyright information

© Springer International Publishing Switzerland 2016

Authors and Affiliations

  • Michael M. Gierczak
    • 1
    Email author
  • Ulrich Bretschneider
    • 1
  • Philipp Haas
    • 2
  • Ivo Blohm
    • 2
  • Jan Marco Leimeister
    • 1
    • 2
  1. 1.Information SystemsKassel UniversityKasselGermany
  2. 2.Institute of Information Management (IWI)University of St. GallenSt. GallenSwitzerland

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