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Open Innovation in Crowdfunding Context: Diversity, Knowledge, and Networks

Year: 2019
Type: article
Abstract: Open innovation is an essential phenomenon in the crowdfunding context. This conceptual piece tends to offer an integrative discussion of three important mechanisms upon which stakeholders of a crowdfunding platform conduct open innovation and value co-creation in crowdfunding sites. These mechanisms include: diversity, knowing, and networking. We argued that: 1. diverse demographic attributes facilitate multiple-party value co-creation; 2. knowledge of platform stakeholders improves quality of ideas; 3. networking positively impacts on open innovation performance. With such discussions, a theoretical foundation for future research is built and more research issues are stimulated.
DOI: 10.3390/su11010180
Institutions: Shantou University, Cheng Shiu University, University of Electronic Science and Technology of China, Wuyi University, University of Electronic Science and Technology of China, Zhongshan Institute, Wuyi University
Language: English
Open Access status: gold
Estimated APC paid: $1,722
OpenAlex ID: W2906876332
FWCI: 7.318
Cites: 47
Cited by: 36
Related to: 10