Preprint Article Version 1 This version is not peer-reviewed

Crowdfunding as an Alternative Means for Funding Sustainable Appropriate Technology—With a Focus on the Factors Determining the Acceptance of Backers

Version 1 : Received: 2 April 2018 / Approved: 2 April 2018 / Online: 2 April 2018 (16:45:08 CEST)

How to cite: Moon, Y.; Hwang, J. Crowdfunding as an Alternative Means for Funding Sustainable Appropriate Technology—With a Focus on the Factors Determining the Acceptance of Backers. Preprints 2018, 2018040027 (doi: 10.20944/preprints201804.0027.v1). Moon, Y.; Hwang, J. Crowdfunding as an Alternative Means for Funding Sustainable Appropriate Technology—With a Focus on the Factors Determining the Acceptance of Backers. Preprints 2018, 2018040027 (doi: 10.20944/preprints201804.0027.v1).

Abstract

The R&D and propagation of sustainable appropriate technology requires the provision of stable funding. Crowdfunding is a form of funding whereby small sums of investments or contributions are collected from among the general public and used to finance the development of goods or services. This method has been in use widely in arts and culture fields, and presents a useful alternative means for funding appropriate technology projects. The aim of this study is to identify the factors influencing the backers who participate in appropriate technology projects through crowdfunding platforms, analyzing the relationships between these factors, and thereby establishing the usefulness of crowdfunding as a viable new alternative. The analysis results indicate that key factors influencing user intention to crowdfund appropriate technology projects include social influence, effort expectancy, and perceived trust. In contrast to the findings of previous studies, performance expectancy was not found to have a significant effect. This reflects the fact that, compared to the crowdfunding conducted for other purposes, crowdfunding for appropriate technology is closer in nature to donations. These findings indicate that for funding to be successful, aggressive online exposure using the SNS of backers should be pursued from the early stages of funding.

Subject Areas

appropriate technology, crowdfunding, UTAUT model, technology service acceptance factor

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