Search Results (175)

We explored the use of artificial intelligence (AI) in enhancing the English proficiency of students in the English as a Foreign Language (EFL) course through a startup product development curriculum. In the course, real-world business scenarios of startup companies were offered for students to analyze English communication skills on crowdfunding platforms and in product promotional videos. The EFL students used entrepreneurial skills to create and present their product videos in a team to the class who acted as potential investors. Pre- and post-test analyses were conducted to assess the impact of AI-assisted learning on enhancing English listening and reading ability. Significant improvements were observed, suggesting AI-enhanced entrepreneurial experiences and the listening and reading ability of the EFL students. Full article

Crowdsourcing has become increasingly relevant in academic research due to its role in the evolving digital landscape, where information is a key driver of organizational performance. In a context dominated by emerging technologies and digital platforms, organizations are turning to external sources for data and idea generation. This paper offers a comprehensive review of the literature on crowdsourcing and digital information, using bibliometric techniques and qualitative analysis to identify major trends. The findings reveal several shifts in focus: from conceptual frameworks to practical applications; from customer participation to broader stakeholder involvement; and from general technological and managerial approaches to specific technologies and emerging perspectives in entrepreneurship and finance. The primary contributing disciplines are Computer Science, Engineering, and Information Science. Recent research (post 2023) emphasizes constructs such as “crowdfunding”, “digital platforms”, and “machine learning”, moving beyond earlier focuses like “citizen science” and “social media.” This review also reveals growing interest in managerial, medical, and cultural heritage applications, alongside a decline in research related to geography and crisis management over the past two years. This study enhances our understanding of current research directions and practical implications in crowdsourcing and digital information, offering valuable insights for both academics and practitioners. Full article

Background: Charitable crowdfunding platforms have become widely used tools for raising funds to support social and humanitarian causes. As participation in these platforms is voluntary, understanding the influence of individual motivations and cultural values is essential, particularly when engaging donors across culturally diverse regions. Within the framework of Self-Determination Theory (SDT), this study explores whether consumers’ cultural orientations influence their motivations and levels of engagement in charitable crowdfunding. Methods: Data were collected through an online survey using the Computer-Assisted Web Interviewing (CAWI) method from 680 participants recruited via Amazon Mechanical Turk. Structural equation modeling was employed to analyze the effects of three cultural dimensions—collectivism, power distance, and uncertainty avoidance—on charitable giving behavior, including their interactions with intrinsic and extrinsic motivations. Results: Collectivism was found to positively predict charitable giving, while uncertainty avoidance had a negative effect. Power distance showed a mixed influence, depending on the underlying motivational factors. Comparative analysis revealed significant regional differences, particularly between respondents from the Americas and Europe, in the strength and nature of these relationships. Conclusions: The findings underscore the importance of integrating cultural factors into digital fundraising strategies and offer new insights into how individual cultural values shape prosocial behavior in online crowdfunding environments. Full article

This study focused on investigating the factors that drive reward-based crowdfunding in Africa, particularly considering the increasing limitations that entrepreneurs face in accessing traditional financial resources globally, by analysing 215 crowdfunding projects from prominent platforms like Kickstarter, IndieGoGo, and Fundraised. The research aimed to identify the key drivers of crowdfunding success. The results from an econometric logistic regression analysis revealed that while images, longer campaign durations, and videos positively influenced crowdfunding, they did not significantly contribute to achieving success. In contrast, the number of backers showed a positive and significant impact on outcomes, whereas the targeted funding amount negatively influenced the success. Notably, the presence of spelling errors was found to have a positive, though statistically insignificant, relationship with crowdfunding success. These findings enhance the existing literature on crowdfunding and offer valuable insights into concepts such as information asymmetry and signalling theory within the context of reward-based crowdfunding. Full article

Expanding the installation and use of renewable energy sources will help Europe reach its energy and climate goals. Additionally, users of small-scale photovoltaic systems will be essential to the energy transition by forming renewable energy communities (RECs). This paper offers a techno-economic analysis of the Italian REC incentive system and a suitable business model to encourage residential photovoltaic and battery installations and lower electricity costs. In this paper, we present a community model that includes a set number of prosumers, a growing number of consumers, and various configurations and management strategies for photovoltaic (PV) and battery systems. Key elements of novelty include (i) the implementation of a fully-solar REC with PV and storage under the Italian incentive scheme, (ii) the introduction a of novel centralized BESS control strategy based on firm generation that maximises energy sharing while minimising its grid impact, (iii) the economic profitability analysis of the PV and storage system for consumers and prosumers when different BESS control strategies are applied. The simulation results show that energy performance increases if a centralized battery management strategy is activated and more consumers join the community. In addition, the proposed business model shows that the best profitability is achieved when there are as many consumers as prosumers. Most importantly, the approach was extended to the extreme case of a “fully solar-powered” community, demonstrating that the REC model is viable even with the current PV and battery costs. Finally, we show that fully solar-powered communities can be easily implemented where homeowners have enough surface for PV installation and purchase a central battery through crowdfunding. Full article

Crowdfunding nowadays has become a significant source of financing for all those entrepreneurs who require funds to start their operations, specifically for social ventures. Furthermore, determining what factors decide whether a project will successfully raise funds is a very relevant question. Past literature has examined various factors that influence fundraising success. Of these factors, information efficiency is the determinant of successful fundraising due to precise project descriptions and effective message delivery. Despite this fact, few studies have investigated how such project descriptions affect the success of crowdfunding campaigns, specifically sustainable projects. The present study tries to fill this gap by examining the relation between the length and readability of the crowdfunding project descriptions and the success rate for sustainable projects in a reward-based model. For the analysis, data were obtained from Kickstarter, the largest crowdfunding platform in the world, with a sample of 12,613 projects, employing a multiple logistic regression model. The results show that the word count and readability of the project descriptions are positively related to crowdfunding success. Furthermore, the analysis shows that using more words related to SDG keywords results in positive fundraising. Such insights reflect that good project descriptions are important for crowdfunding success and, on the theoretical level, provide practical value for project owners. Full article

This study explores the marketing challenges perceived by aspiring entrepreneurs, focusing on undergraduate business students’ perspectives. Drawing on an empirical qualitative approach, this research utilizes data from semi-structured interviews with 31 students at a midwestern U.S. university to examine key barriers that hinder business development and growth. The research identifies five key themes: budget constraints, customer identification and engagement, branding and market differentiation, digital marketing barriers, and the role of education. The findings reveal that financial limitations and resource constraints hinder students’ ability to implement effective marketing strategies, while limited practical experience complicates customer engagement and market research efforts. Additionally, participants emphasized challenges in establishing distinct brand identities and adapting to rapidly evolving digital marketing tools. These insights align with existing entrepreneurial marketing theories, reinforcing the role of adaptability and resourcefulness in early-stage business ventures. Education emerged as both a strength and an area for improvement, with students valuing theoretical foundations but identifying gaps in hands-on, experiential learning opportunities. This study contributes to entrepreneurial marketing literature by highlighting the interplay between resource constraints, creativity, and adaptability in understanding marketing challenges. It further underscores the importance of integrating digital marketing competencies and alternative financing strategies, such as crowdfunding and fintech solutions, into entrepreneurship education. It also emphasizes the need for educational reforms that integrate practical applications, mentorship, and digital marketing training to prepare students for real-world entrepreneurial endeavors. By addressing these gaps, the findings offer actionable insights for educators, policymakers, and entrepreneurial support systems to better equip aspiring entrepreneurs for sustainable success. Full article

This study examines the transformative potential of FinTech, particularly crowdfunding, in the context of traditional financial systems amidst the FinTech market downturn (‘Winter’) of 2022. We address a fundamental question: Does crowdfunding represent a viable alternative to conventional finance, or does it merely function as an extension of existing financial infrastructure? To investigate this relationship empirically, we developed a proprietary crowdfunding index and employed Interconnectedness Index methodology to compare the spillover effects of crowdfunding and traditional financial systems with common economic factors such as interest rates, USD index, economic uncertainty, cryptocurrency (Bitcoin), as well as commodities (gold and oil). Despite crowdfunding’s remarkable growth trajectory over the past decade, our empirical evidence indicates that it has not yet emerged as a viable substitute for conventional financial mechanisms. These findings carry substantial implications for regulatory frameworks, industry stakeholders, and academic discourse, contributing to the broader understanding of FinTech’s disruptive capacity within the financial ecosystem. Full article

In the evolving landscape of fandom economics, fan-driven crowdfunding has emerged as a powerful force, transforming audiences from passive consumers into active participants in celebrity branding. This study examines the roles of trust, loyalty, and perceived value in shaping crowdfunding participation within Chinese Weibo K-pop communities, where fans collectively finance large-scale public advertisements for their idols. Using structural equation modeling (SEM) on survey data from 260 participants, our findings reveal that trust and loyalty within fan communities significantly enhance engagement in crowdfunding activities, reinforcing perceived idol value and financial commitment to promotional campaigns. These insights position fan crowdfunding as a key driver of digital-era consumer culture, illustrating its impact on idol branding, online community dynamics, and the monetization of fandom engagement. By bridging fandom studies, digital marketing, and behavioral economics, this research provides theoretical advancements and practical strategies for entertainment agencies and celebrity managers seeking to harness the economic power of fan-driven marketing. As fandoms continue to reshape traditional advertising models, understanding the mechanisms behind community-based crowdfunding offers new avenues for brand engagement, audience monetization, and sustainable fan participation in the global entertainment industry. Full article

This study investigates the factors influencing the success of sustainability-oriented equity crowdfunding campaigns by analyzing a dataset of 771 campaigns from Italian platforms between 2014 and 2021. The findings indicate that while projects with a sustainability focus tend to achieve better outcomes, their success is contingent on variables such as the economic sector of the proposing company and investor concerns regarding misleading claims about environmental, social, and governance practices. Notably, professional investors play a critical role in early-stage financing, initiating information cascades that drive broader investor participation. Furthermore, the COVID-19 crisis appears to have heightened investor interest in sustainability, further solidifying equity crowdfunding as a viable financing tool for ventures with environmental and social objectives. By identifying the key factors that drive the success of sustainability-oriented campaigns, this study offers valuable insights for entrepreneurs, investors, and policymakers seeking to enhance the role of alternative finance in promoting sustainable innovation. Full article

This paper investigates points of vulnerability in the decisions made by backers and campaigners in crowdfund pledges in an attempt to facilitate a sustainable entrepreneurial ecosystem by increasing the rate of good projects being funded. In doing so, this research examines factors that contribute to the success or failure of crowdfunding campaign pledges using eXplainable AI methods (SHapley Additive exPlanations and Counterfactual Explanations). A dataset of completed Kickstarter campaigns was used to train two binary classifiers. The first model used textual features from the campaigns’ descriptions, and the second used categorical, numerical, and textual features. Findings identify textual terms, such as “stretch goals”, that convey both elements of risk and ambitiousness to be strongly correlated with success, contrary to transparent communications of risks that bring forward worries that would have otherwise remained dormant for backers. Short sentence length, in conjunction with high term complexity, is also associated with campaign success. We link the latter to signaling theory and the campaigners’ projection of knowledgeability of the domain. Certain numerical data, such as the project’s duration, frequency of post updates, and use of images, confirm previous links to campaign success. We enhance implications through the use of Counterfactual Explanations and generate actionable recommendations on how failed projects could become successful while proposing new policies, in the form of nudges, that shield backers from points of vulnerability. Full article

Energy Efficiency Contracting (EEC) enables structural improvements in buildings by financing upgrades through the savings generated, eliminating the need for upfront investment by property owners. Although the model supports the energy transition and the reduction in GHG emissions, its adoption in the private sector faces relevant barriers such as the lack of information from the Energy Service Companies (ESCOs), distrust from clients in benefits with no upfront costs, and legal and behavioral barriers. To overcome these challenges, the FinSESCo platform, funded by Era-Net 2020 joint call, aims to channel private investments into building renovations and renewable energy installations via a crowdfunding portal. The platform allows individuals and organizations to finance small-scale renewable energy installations and energy efficiency measures for homeowners, tenants, and apartment owners. The new platform is likely to change the way EE investments are made and reach out to new audiences. A survey of 2585 German households sought to understand the drivers of EE investments, factors affecting the decisions, and their relationships with several demographic variables. Using a stepwise backward regression model, the study found significant differences between traditional investors in EE and those who would use the FinSESCo platform. Low- and medium-income households were more likely to take up the platform, and previous renewable energy ownership, experience with EEC models, and knowledge of crowdfunding further raised willingness to participate. The results point to the potential of the FinSESCo platform to expand EEC to new audiences, underlining its role of democratization and diversification of investments in building energy efficiency. Full article

Blockchain technologies provide new opportunities for media copyright management. To provide an overview of the main initiatives in this blockchain application area, we have first reviewed the existing academic literature. The bibliometric analysis of the literature about copyright and blockchain in the Scopus database identifies four main areas of activity, namely “Digital Rights Management”, “Copyright Protection”, “Social Media”, and “Intellectual Property Rights”. However, it also shows that the literature is still scarce and immature in many aspects, which becomes more evident when comparing it to initiatives coming from the industry. Blockchain has been receiving significant inflows of venture capital and crowdfunding, which have boosted its progress in many fields, including its application to media management. Consequently, we have complemented the review with a business perspective. Existing reports about blockchain and media have been studied and consolidated into four prominent business use cases: “Copyright Management”, “Digital Content Scarcity”, “Marketing, Fan Engagement and Fundrising”, and “Disintermediated Distribution”. Moreover, each one has been illustrated through existing businesses already exploring them. Combining the academic and industry perspectives, this review helps researchers identify the current trends in academic research about media copyright management using blockchain technologies, but without losing track of the state of the art in the industry, which in many cases is more advanced, and the business use cases they can connect their research to. Full article

This research seeks to clarify the uncertainty in crowdfunding literature regarding the relationship between the number of updates and campaign success. By integrating signal theory and the notion of information overload, this study posits a curved, inverted U-shaped relationship between the number of updates and campaign success. Empirical evidence to support this hypothesis is drawn from an analysis of 2852 projects sourced from a reward-based crowdfunding platform. The aim of this inquiry is to provide insights into the intricate dynamics that influence how the number of updates impacts the results of crowdfunding campaigns. Full article

This study introduces an ensemble model that integrates random forest, gradient boosting, and logistic regression to predict the success of crowdfunding campaigns. Our research develops a novel set of metrics that assess the developmental stage of research projects, facilitating the transition from concept to market-ready product. Utilizing data from multiple sources, including Kaggle’s dataset of Kickstarter and Indiegogo projects and a proprietary dataset tailored to our study, the model’s performance was evaluated against traditional implementations of random forest and gradient boosting. The results demonstrate the ensemble model’s superior performance, achieving an accuracy of 98.94% and an F1 score of 98.81%, significantly outperforming the individual models, showing the best accuracies of around 91% for random forest and lower scores for gradient boosting. This enhancement in predictive power allows for optimized resource allocation and strategic planning in project development, thereby increasing the likelihood of crowdfunding success. This approach streamlines the process of bringing innovative ideas to final products, while at the same time offering a methodologically advanced tool for stakeholders to enhance their campaign strategies effectively. Full article