Determinantes do sucesso para o financiamento de empreendimentos tecnológicos via reward crowdfunding

Abstract

Since the topic of crowdfunding has become an object of study increasingly investigated academically, with an intent to knowing the financing alternatives for different types of businesses, there can be no doubt of the great contribution that studies in crowdfunding must make, promoting scientificity in this research field. Studying in-depth the themes surrounding crowdfunding campaigns and the drivers that make these crowdfunding campaigns successful allows us to empirically understand the success paths and spreading for entrepreneurs who are seeking this financing alternative that has been in large demand in recent decades, especially in reward crowdfunding or crowdfunding with a reward model. Thus, the purpose of this dissertation is to identify the success drivers of technological venture campaigns financed by reward crowdfunding launched on the Catarse platform between the years 20162020. To achieve this purpose, this dissertation is divided into two essays: the first contemplates the systematic mapping of the literature on reward crowdfunding and the success drivers of campaigns during the five-year period 2017-2022. The second essay presents the identified variables that influence the success of reward crowdfunding campaigns and, based on such information, a probit regression model was developed with data from the 946 technological venture campaigns launched and completed on the Catarse platform between the years 2016-2020. The results indicate that high tech projects with higher goals, duration and all-or-nothing type have lower chances of success. On the other hand, project campaigns with a greater number of supports, which offer more rewards, which have video in their description, which have received a new chance and other opportunities to launch their campaigns are more successful. In this way, this study provides arise of new research agendas that seek to further investigate the specific variables related to high tech projects, especially after 2020 – where there is an important time frame for the universe of technology –, in its context to better understand why this category is associated with a lower probability of success, as well as consider other metrics or variables that may influence the outcome of this type of reward funding campaigns, with the purpose of providing a more comprehensive view. The empirical results presented in this study have the prospect of offering valuable theoretical contributions and significant practical implications for various audiences, including academia, sector professionals, platform managers and entrepreneurs, providing new insights for achieving success in reward crowdfunding campaigns.