Building Crowdfunding Ecosystem: A Multi-case Study

Abstract

Abstract:

Crowdfunding ecosystem has a great effect on crowdfunding platforms, so this paper aims to propose crowdfunding ecosystem construction model and evolution rule. Based on multi-crowdfunding platforms, we put forward three types of crowdfunding ecosystems. The results show that:Fusion crowdfunding ecosystem has most types of species, but species relationship is a little loose; independent crowdfunding ecosystem has few types of species, but species relationship is tight. The business resources behind crowdfunding platform determine the crowdfunding ecosystem structure and development way. The basic functions of crowdfunding ecosystems are information spreading and value flow. The evolutionary dynamic of crowdfunding ecosystem comes from the development of biological and species. When the number of biology and species in crowdfunding ecosystem reaches a certain "threshold", new resources and service requirements will be generated and designers of the crowdfunding ecosystems should meet the needs only if the crowdfunding ecosystems can be upgraded. The evolution of crowdfunding ecosystems is driven by the joint effort of entrepreneurs, investors and the crowdfunding platform. The types of crowdfunding ecosystems can be used as a reference for crowdfunding platforms and entrepreneurs.

Key words: crowdfunding, ecosystem, evolution mechanism, dynamic mechanism

Wang Zhengpei, Li Guoxin. Building Crowdfunding Ecosystem: A Multi-case Study[J]. , 2017, 29(5): 256-272.

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