Financing A Free-for-All: Crowdfunding Open-Source Software

被引:0
|
作者
Bort, James [1 ]
Meoli, Azzurra [2 ]
Sullivan, David W. [3 ]
机构
[1] Depaul Univ, Chicago, IL 60614 USA
[2] Univ Bologna, Bologna, Italy
[3] Univ Houston, Houston, TX USA
关键词
Open-source software; OSS; Crowdfunding; Entrepreneurship; Trust; O30; O34; O36; L26; OPEN INNOVATION; MANAGEMENT; COMMUNITY; KNOWLEDGE; PARTICIPATION; CONSEQUENCES; PERFORMANCE; INVESTMENT; CHALLENGES; RESOURCES;
D O I
10.1007/s11187-023-00867-y
中图分类号
F [经济];
学科分类号
02 ;
摘要
This paper examines whether open-source software (OSS) provides unique advantages in the entrepreneurial crowdfunding context. The economic model for new ventures with business plans centered on OSS is often counterintuitive to early-stage investors. On the one hand, the non-restrictive OSS approach reduces the barriers to widespread product adoption and collaboration; on the other, OSS is essentially a public good, creating a scenario where anyone can appropriate value from the product without compensating its creators. As such, an OSS approach can dissuade investors primarily concerned with appropriating value for themselves, making it difficult for early-stage OSS ventures to attract investors. However, the rapid rise of crowdfunding has created a communally minded investor base that might instead find OSS projects enticing. We theorize that the attributes of OSS projects align with the communal expectations of crowdfunding investors and thus create supportive environments for OSS-based ventures. We illustrate this alignment through the community-based resource mobilization framework and suggest that the OSS approach yields greater investor trust, leading to superior financing outcomes. Our mixed methods approach blends archival analyses of Kickstarter data with a constructive replication through a randomized experiment, providing consistent support that an OSS approach can be advantageous in the crowdfunding context. Can rewards-based crowdfunding open new doors to finance open-source software (OSS) projects? Our research suggests that crowdfunding backers are more likely to support OSS projects because they are perceived as more trustworthy. While the economic principles of OSS can be counterintuitive, OSS promotes widespread product adoption and collaboration. This allows anyone to benefit from OSS. Our research builds on the notion that crowdfunding, much like OSS, is a communal endeavor. We leverage data from the rewards-based crowdfunding platform Kickstarter.com and a controlled experiment, finding a connection between projects that espouse the OSS approach and crowdfunding success. The culmination of the two studies advances knowledge of the unique preferences of crowdfunding backers and suggests that the crowdfunding context is fertile ground to bring new insights into OSS-focused start-ups.
引用
收藏
页码:1449 / 1469
页数:21
相关论文
共 50 条
  • [41] OPEN-SOURCE SIMULATION SOFTWARE "JAAMSIM"
    King, D. H.
    Harrison, Harvey S.
    2013 WINTER SIMULATION CONFERENCE (WSC), 2013, : 2163 - 2171
  • [42] Open-source software: Power to the people?
    Bruno, Lee
    Data Communications, 1999, 28 (05):
  • [43] What Is the Price of Open-Source Software?
    Krylov, Anna I.
    Herbert, John M.
    Furche, Filipp
    Head-Gordon, Martin
    Knowles, Peter J.
    Lindh, Roland
    Manby, Frederick R.
    Pulay, Peter
    Skylaris, Chris-Kriton
    Werner, Hans-Joachim
    JOURNAL OF PHYSICAL CHEMISTRY LETTERS, 2015, 6 (14): : 2751 - 2754
  • [44] Characterizing Commits in Open-Source Software
    Ferreira, Mivian M.
    Goncalves, Diego Santos
    Bigonha, Mariza A.S.
    Ferreira, Kecia A.M.
    ACM International Conference Proceeding Series, 2022,
  • [45] Open-source software for radiologists: a primer
    Scarsbrook, A. F.
    CLINICAL RADIOLOGY, 2007, 62 (02) : 120 - 130
  • [46] Open-source software accelerates bioinformatics
    John Quackenbush
    Genome Biology, 4 (9)
  • [47] Open-Source Software for Agricultural Engineering
    Igathinathane, C.
    Resource: Engineering and Technology for Sustainable World, 2024, 31 (03): : 8 - 11
  • [48] Teaching Cryptography with Open-Source Software
    McAndrew, Alasdair
    SIGCSE'08: PROCEEDINGS OF THE 39TH ACM TECHNICAL SYMPOSIUM ON COMPUTER SCIENCE EDUCATION, 2008, : 325 - 329
  • [49] Firms as Incubators of Open-Source Software
    Mehra, Amit
    Dewan, Rajiv
    Freimer, Marshall
    INFORMATION SYSTEMS RESEARCH, 2011, 22 (01) : 22 - 38
  • [50] Open-source medical software on the net
    Sinclair, A
    CANADIAN MEDICAL ASSOCIATION JOURNAL, 2001, 165 (06) : 811 - 811