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Crowdfunding as a tool for innovation marketing: technology entrepreneurship commercialization strategies

, and . Handbook of Research on Techno-Entrepreneurship, Third Edition, chapter 7, Edward Elgar Publishing, Cheltenham, UK., 3rd edition, (2019)
DOI: 10.4337/9781786439079.00016

Abstract

These days, crowdfunding has become an established tool for entrepreneurial financing. Beyond that, it also established a new way of innovation marketing, especially for high-tech products: using crowdfunding to find out if there is a market for the product. Without the goal of collecting money for the start-up, this approach makes a new strategic approach necessary how to setup entrepreneurial commercialization strategies. This chapter offers insights into such crowdfunding behavior, and how technology entrepreneurs can make use of it. For this, a market theory perspective is taken on crowdfunding platforms, with implications for theory and practice.

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