Talk title: Reward-based Crowdfunding as a Tool to Constitute and Develop Collaborative Innovation Networks (COINs)
Michael Beier and Sebastian Früh
Most people perceive reward-based crowdfunding mainly as a relatively new way to raise funding via the Internet. However, reward-based crowdfunding can be much more than that, especially when it is applied to promote specific purposes of collaborative innovation. It provides a practicable tool to constitute and develop Collaborative Innovation Networks (COINs) that can be applied as a complement to the classical COINs approach. In this paper we develop based on an extensive literature review a conceptual framework of how reward-based crowdfunding can be applied to support the constitution and development of COINs. First we briefly introduce relevanttheoretical foundations and the relevant state of research on Collaborative Innovation Networks (COINs) Then we do the same for reward-based crowdfunding. and we combine both approaches and present our framework on how reward-based crowdfunding can be applied as a tool to constitute and develop collaborative innovation networks.