Role and positioning of reward based crowdfunding in the funding of technological innovation projects – viewpoint of entrepreneurial financing experts

Abstract

The research summarizes interim results of a doctoral study examining the role and positioning of reward based crowdfunding in the case of start-ups launching technological innovation projects. The article provides a brief introduction to the reward-based model of crowdfunding, highlighting aspects of its positioning compared to traditionally known entrepreneurial funding opportunities. Analyzed data of 17 interviews conducted with senior experts from the startup funding ecosystems (VCs, Business Angels, leaders of incubator houses and accelerators leaders) is shared. Recommendations and risks of application of reward-based crowdfunding, depending on the different phase of product readiness and financial status of the company, is shared.