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The Revolution of Crowdfunding in Social Knowledge Economy: Literature Review and Identification of Business Models

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This paper provides a review on crowdfunding in order to identify the state of art in the literature. The review was carried out using Scopus and Web of Science databases from 1960 to 2014. A total of twenty-nine papers were selected and analyzed. The content analysis of the papers highlights a research gap which allows to identify a research question regarding the existing business models supporting the process of crowdfunding. In order to provide an answer to this research question, this paper proposes a taxonomy of crowdfunding business models according to three types of motivations driving people to fund a project: social motivation, material motivation and financial motivation. This taxonomy offers to large firms and also to small and medium enterprises the opportunity to identify a set of business models that can be used to obtain funds and finance their projects.
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Keywords: Crowd-Based Economy; Crowdfunding; Financial Motivation; Literature Review; Material Motivation; Social Motivation

Document Type: Research Article

Affiliations: 1: Department of Chemical, Materials and Industrial Production Engineering, University of Naples Federico II, P.le Tecchio, 80, 80125 Naples, Italy 2: Department of Industrial Engineering, University of Naples Federico II, P.le Tecchio 80, 80125 Naples, Italy

Publication date: May 1, 2016

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  • ADVANCED SCIENCE LETTERS is an international peer-reviewed journal with a very wide-ranging coverage, consolidates research activities in all areas of (1) Physical Sciences, (2) Biological Sciences, (3) Mathematical Sciences, (4) Engineering, (5) Computer and Information Sciences, and (6) Geosciences to publish original short communications, full research papers and timely brief (mini) reviews with authors photo and biography encompassing the basic and applied research and current developments in educational aspects of these scientific areas.
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