Entrepreneurial Ecosystems and the Diffusion of Startups
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Entrepreneurial Ecosystems and the Diffusion of Startups

Edited by Elias G. Carayannis, Giovanni B. Dagnino, Sharon Alvarez and Rosario Faraci

Entrepreneurial Ecosystems and the Diffusion of Startups addresses, for the first time, the emerging notion of entrepreneurial ecosystems. Chapters from leading scholars in the fields of entrepreneurship and strategy explore new ideas and provoke debate in both academia and practice. Covering the emergence, dynamics and management of entrepreneurial ecosystems and offering conceptual tools, experimental evidence and practical examples, this book will be invaluable to those seeking a greater understanding of entrepreneurship and startup strategies, both practitioners and students.
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Chapter 5: Industry specificity and the effect of internal social capital in reward-based crowdfunding

Vincenzo Butticè and Massimo G. Colombo

Abstract

Literature on crowdfunding has highlighted the role of social capital developed within the platform (internal social capital) in determining the success of a funding campaign. However, to date, prior studies have neglected to determine whether industry specificity may influence this effect. In this chapter, the authors aim to fill this gap by investigating how social capital influences the funding of products belonging to different industries. Using a dataset of 34,121 project launched on Kickstarter during 2014, they found that the internal social capital effect varies by industry and is stronger in magnitude when the industry is characterized by high demand uncertainty and task complexity. Overall, these findings contribute to a better understanding of the role of social capital in early stage financing.

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