Sunghan Ryu - Beauty of crowdfunding : blooming creativity and innovation in the digital era
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![Beauty of Crowdfunding Crowdfunding is emerging as a new source of financing - photo 1](/uploads/posts/book/268165/Images/Cover.jpg)
Crowdfunding is emerging as a new source of financing for creativity and innovation. It promotes the launching and scaling of new projects for different types of creators by providing networked platforms and handy digital tools.
This book provides insight into crowdfunding and how crowdfunding contributes to our communities and society. The book includes an overview of existing discussions across different disciplines, that is, entrepreneurship, information systems, and marketing, and correlates the literature to the best crowdfunding practices.
The book begins with origins, basic notions, and antecedents of crowdfunding. In the main parts, it demonstrates the five distinguished facets of crowdfunding: creativity, diversity, balance, connection, and change. It also addresses the drawbacks of crowdfunding and subsequent outcomes of crowdfunding success. Finally, it provides a perspective on the future of crowdfunding.
Sunghan Ryu is Assistant Professor at USC-SJTU Institute of Cultural and Creative Industry in Shanghai Jiao Tong University. His research and teaching focus on IT innovations in cultural and creative domains from a business/management perspective. His current research projects revolve around crowdfunding and its impacts on creativity and innovation. He lives in Shanghai, China, with his wife and three daughters.
Innovation and Internationalisation
Successful SMEs Ventures into China
Stuart Orr, Jane Menzies, Connie Zheng and Sajeewa Pat Maddumage
Technological Substitution in Asia
Ewa Lechman
China and Global Value Chains
Globalization and the Information and Communications Technology Sector
Yutao Sun and Seamus Grimes
Transformational Entrepreneurship
Edited by Vanessa Ratten and Paul Jones
Labor Relations and Human Resource Management in China
Connie Zheng
The Management of Consumer Co-operatives in Korea
Identity, Participation and Sustainability
Edited by Seungkwon Jang
Entrepreneurship, Innovation and Inequality
Exploring Territorial Dynamics and Development
Edited by Vanessa Ratten, Jose lvarez-Garca and Maria de la Cruz del Rio-Rama
Innovation and Industrial Development in China
A Schumpeterian Perspective on Chinas Economic Transformation
Kaidong Feng
Beauty of Crowdfunding
Blooming Creativity and Innovation in the Digital Era
Sunghan Ryu
For more information about this series, please visit www.routledge.com/series/RFBM
First published 2020
by Routledge
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN
and by Routledge
52 Vanderbilt Avenue, New York, NY 10017
Routledge is an imprint of the Taylor & Francis Group, an informa business
2020 Sunghan Ryu
The right of Sunghan Ryu to be identified as author of this work has been asserted by him in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988.
All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers.
Trademark notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe.
British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library
Library of Congress Cataloging-in-Publication Data
Names: Ryu, Sunghan, author.
Title: Beauty of crowdfunding : blooming creativity and innovation in the digital era / Sunghan Ryu.
Description: Abingdon, Oxon ; New York, NY : Routledge, 2020. | Series: Routledge frontiers of business management | Includes bibliographical references and index.
Identifiers: LCCN 2019042361 (print) | LCCN 2019042362 (ebook) |
Subjects: LCSH: Crowd funding. | Creative ability in business. | New business enterprisesFinance.
Classification: LCC HG4751 .R97 2020 (print) | LCC HG4751 (ebook) | DDC 658.15/224dc23
LC record available at https://lccn.loc.gov/2019042361
LC ebook record available at https://lccn.loc.gov/2019042362
ISBN: 978-0-367-19853-4 (hbk)
ISBN: 978-0-429-24371-4 (ebk)
Typeset in Galliard
by Apex CoVantage, LLC
For my wife Soohee and daughters Jimin, Jiwon, and Jina
PART 1
About crowdfunding
PART 2
Beauty of crowdfunding
PART 3
Behind crowdfunding
Of lifes two chief prizes, beauty and truth, I found the first in a loving heart and the second in a laborers hand.
Khalil Gibran
In the summer of 2012, I was struggling to encounter my doctoral dissertation theme. To me, crowdfunding was like a revelation. I have wandered across business, culture, and technology and found myself with scant suspicion of the current financial systems. Many vital sectors of our society have been neglected and overlooked by the capital markets. We could have seen more creativity and innovation on a better ground.
I heard of crowdfunding from one of my friends who had just initiated a crowdfunding platform in Seoul, Korea. When I listened to the story, I fell into the world of crowdfunding. I thought it was beautiful, possessing beauty inside of it. What beauty? Isnt it a new platform business? This book is the record of the journey to finding the roots of my fascination on the beauty of crowdfunding.
Crowdfunding was in the toddler stage at that time. I asked to meet the team behind the representative crowdfunding platform in Korea. We met and agreed to kick-start a research project. I made mistakes and messed up many times during the project, but thanks to their tolerance and support, I received my doctoral degree in the summer of 2014. That was just the beginning. After that, I initiated a series of studies on crowdfunding. I was fortunate enough to publish some journal papers and book chapters on crowdfunding. In the meanwhile, crowdfunding seemed to enter into its childhood. A major portion of the population is familiar with the concept, but unfortunately, many overlook the true beauty of crowdfunding. I thought it was the right timing for writing this book.
It did take around a year to finish the project, which was much longer than expected. But, while working, I felt grateful as I could enjoy the two chief prizes of life: beauty and truth. I again realized my love of crowdfunding and felt alive while writing this book with my two hands.
I hope you will participate in my journey toward encountering the beauty (and truth) of crowdfunding!
I would like to thank my collaborators on the core studies, opening up the opportunities for this book and other research projects: Keongtae Kim, Jungpil Hahn, Jooyoung Park, Ayoung Suh, Sha Yang, Lian Jian, Daegon Cho, Heeseok Lee, Junyeong Lee, Jinyoung Min, Hernan Galperin, Byungho Park, Dinesh Puranam, Qing Wang, Nathaniel Ming Curran, Changwoo Suh, Manuel Wiesche, Kyungmin Choi, Miyeon Jung, Boram Kwon, and Minjoo Lee.
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