Crowdfunding for Design Innovation: Prediction Model With Critical Factors

Abstract

Online reward-based crowdfunding campaigns have emerged as an innovative approach for validating demands, discovering early adopters, and seeking learning and feedback in the design processes of innovative products. However, crowdfunding campaigns for innovative products are faced with a high degree of uncertainty and suffer meager rates of success to fulfill their values for design. To guide designers and innovators for crowdfunding campaigns, this article presents a data-driven methodology to build a prediction model with critical factors for crowdfunding success, based on public online crowdfunding campaign data. Specifically, the methodology filters 26 candidate factors in the real-win-w..