The determinant factors in successful reward-based crowd funding project.

Crowdfunding is a novel and popular way of funding for individual entrepreneurs and middle-sized enterprises. However, undertaking such a project in order to collect funds successfully is risky and time consuming. This research seeks to understand the determinant factors in successful Taiwanese crowdfunding projects. Project funding data from the biggest reward-based crowdfunding platforms in Taiwan was analyzed by using both quantitative (data mining) and qualitative (interview) methodologies. The quantitative analysis revealed that the frequency of project updates and funding-raising amounts are highly relevant to the success of crowdfunding projects, and the qualitative analysis identified four new determinant factors in a successful project: consultancy services, a localized promotion strategies, social movement trends, and follow-up mechanisms. It was also found that these new determinant factors are strongly related to the crowdfunding platform itself, and are also influenced by a local context.