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date: 21 April 2019

Abstract and Keywords

This article discusses crowdfunding as an alternative way of financing projects, with a focus on small, entrepreneurial ventures. It first provides a description of crowdfunding and discusses existing research on the topic. The next section looks at crowdfunding in the context of entrepreneurial finance and thereby describes factors affecting entrepreneurial preferences for crowdfunding as a source of finance. Thereafter it elaborates different business models used to raise money from the crowd, in particular with respect to the structure of the crowdfunding process. Building on this discussion, the article presents and discusses extensively a case study, Media No Mad (a French start-up). It concludes with recommendations for entrepreneurs seeking to make use of crowdfunding and with suggestions for researchers about yet-unexplored avenues of research.

Keywords: crowdfunding, entrepreneurial ventures, small firms, entrepreneurial finance, business models, start-up

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