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Does the Crowd Support Innovation? Innovation Claims and Success on Kickstarter

Abstract : Online crowdfunding is a popular new tool for raising capital to commercialize product innovation. Product innovation must be both novel and useful (1-4). Therefore, we study the role of novelty and usefulness claims on Kickstarter. Startlingly, we find that a single claim of novelty increases project funding by about 200%, a single claim of usefulness increases project funding by about 1200%, and the co-occurrence of novelty and usefulness claims lowers funding by about 26%. Our findings are encouraging because they suggest the crowd strongly supports novelty and usefulness. However, our findings are disappointing because the premise of crowdfunding is to support projects that are innovative, i.e. that are both novel and useful, rather than projects that are only novel or only useful.
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Preprints, Working Papers, ...
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https://hal-hec.archives-ouvertes.fr/hal-01941529
Contributor : Antoine Haldemann Connect in order to contact the contributor
Submitted on : Saturday, December 1, 2018 - 2:01:36 PM
Last modification on : Saturday, June 25, 2022 - 10:56:19 AM

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  • HAL Id : hal-01941529, version 1

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Anirban Mukherjee, Cathy yang, Ping Xiao, Amitava Chattopadhyay. Does the Crowd Support Innovation? Innovation Claims and Success on Kickstarter. 2017. ⟨hal-01941529⟩

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