Work

The link between crowdfunding and sustainability: A literature review in the field of entrepreneurs and academic spinoffs

Year: 2025

Type: article

Abstract: • We study the link between crowdfunding and sustainability for startups and academic spinoffs. • The Latent Dirichlet Allocation method to analyze the literature is used. • We find that crowdfunding facilitates creative enterprises. • Crowdfunding corresponds with the need for sustainable business practices. The aim of the paper is to analyze the literature that investigates the connection between fintech, crowdfunding, entrepreneurs, academic spinoffs, startups, SMEs, and sustainability to provide insights into how this relationship is influencing researchers. Crowdfunding serves as a crucial element of the fintech ecosystem, promoting financial inclusion and empowering businesses that use these technologies. The Latent Dirichlet Allocation (LDA) method was used to carefully analyze the literature in the field. The findings highlight how crowdfunding facilitates creative enterprises (academic spinoffs, startups, and SMEs) and corresponds with the increasing need for sustainable business practices, offering a foundation for future research in this multidisciplinary field.

Source: Finance research letters

DOI: 10.1016/j.frl.2025.107097

Authors: Giovanni Baldissarro, Elisa Farinelli, Gianpaolo Iazzolino, Riccardo Maiolini, Donato Morea

Institutions: University of Calabria, University of Cagliari, John Cabot University

Language: English

Topic: FinTech, Crowdfunding, Digital Finance

Subfield: Management Information Systems

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: hybrid

Estimated APC paid: $3,730