Crowdfunding for sustainability ventures

• Autor(a) principal: Bento, Nuno
• Data de Publicação: 2019
• Outros Autores: Gianfrate, Gianfranco, Thoni, Marco Horst
• Tipo de documento: Artigo
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10400.14/37476
• topic: Business venturing; Crowdfunding; Social entrepreneurship; Sustainability; Sustainable finance

Sustainable entrepreneurship is raising and already providing a response to environmental, social and economic issues. However, it is still at disadvantage when seeks funding from traditional providers of capital. Crowdfunding has opened a new possibility for closing such funding gap. This study investigates the role of crowdfunding as a creative source of capital for ventures with sustainable orientation. The analysis seeks to understand to what extent project characteristics influence the ability to raise funds on the world leading reward-crowdfunding platform, and, importantly, to explain their survival post-campaign. Results show that the perceived sustainable mission positively influences the outcome of the campaign. An average survival rate over 70% after one year of operations suggests the creation of healthy sustainability ventures through crowdfunding. Furthermore, a higher percentage of female co-founders improves the chances of success during and after the crowdfunding campaign. The paper discusses implications for the success of crowdfunding campaigns and their development post-campaign in sustainable entrepreneurship.