The emergence of well-being in crowdfunding: a study of entrepreneurs and backers of reward and donation campaigns

Abstract

Purpose

The current study explores the emergence of well-being, a fundamental human goal, in the crowdfunding process by investigating entrepreneurs and backers' interactions within reward and donation campaigns.

Design/methodology/approach

The study is based on interviews with 64 entrepreneurs and 50 backers of rewards and donation campaigns.

Findings

The analysis revealed that the crowdfunding experience triggers all three aspects of well-being––hedonic, eudaimonic and social––for both entrepreneurs and backers. These aspects emerged in the course of the campaign's life stages.

Originality/value

The study establishes well-being as a core aspect of entrepreneur–backer interaction and shows how entrepreneurs' well-being feeds back into backers' well-being and vice versa. Furthermore, it illustrates how well-being, in its various aspects, develops during the different stages of the crowdfunding process to facilitate a full well-being experience and a sense of accomplishment for both types of participants.

Citation

Efrat, K., Gilboa, S. and Wald, A. (2021), "The emergence of well-being in crowdfunding: a study of entrepreneurs and backers of reward and donation campaigns", International Journal of Entrepreneurial Behavior & Research, Vol. 27 No. 2, pp. 397-415. https://doi.org/10.1108/IJEBR-12-2019-0685