Expand innovation finance via crowdfunding
Expand innovation finance via crowdfunding
复制标题
通过众筹扩大创新融资
DOI：
10.1126/science.aaf6989
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发表时间：
2016
期刊：
影响因子：
56.9
通讯作者：
L. Fleming
中科院分区：
文献类型：
--
作者：
O. Sorenson;Valentina A. Assenova;Guan;Jason Boada;L. Fleming
众筹（CF）平台，如Kickstarter（KS），提供了一种资助创新的方式，将发明者和企业家与众多支持者联系起来，每个支持者提供项目所需资金的一小部分。虽然相当多的创新资金来自风险投资家（VC），但风险投资家资助的企业家往往反映了投资者的教育，社会和专业特征，并最终集中在少数地区（1-4）。因此，政策制定者对CF平台表示欢迎，希望它们能够扩大创业融资的渠道，包括女性和少数民族创新者，并且资助的创新将创造就业机会并刺激经济增长。但是，如果特定地区或某些类型的个人经常产生更好的想法，并且VC专注于这些想法，那么CF可能只是与专业投资者竞争为相同的想法提供资金。然而，我们发现，CF一直在为许多通常被排除在VC之外的地方的创新者提供资金，并且还在扩大VC本身的地理范围。
Crowdfunding attracts venture capital to new regions Crowdfunding (CF) platforms, such as Kickstarter (KS), offer a means of funding innovation, connecting inventors and entrepreneurs with a multitude of supporters, who each provide a small fraction of the amount required to fund the project. Although considerable funding for innovation has historically come from venture capitalists (VCs), the entrepreneurs funded by VCs often mirror the investors in terms of their educational, social, and professional characteristics and end up concentrated in a small number of regions (1–4). Policy-makers have thus hailed CF platforms, hoping that they will expand access to entrepreneurial finance, including among women and minority innovators, and that the innovations funded will create jobs and spur economic growth (5). But if particular regions, or certain sorts of individuals, routinely produce better ideas (6), and VC concentrates on them, then CF might simply compete with professional investors to fund the same ideas. We find, however, that CF has been funding innovators in a large number of places that have typically been excluded from VC, and has also been expanding the geographic reach of VC itself.