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This case features the challenges of a startup in the crowdfunding space in 2015 as its leadership assesses potential sources of growth for the company s future. Founded in Israel in 2012 by a renowned venture capitalist, OurCrowd was a venture capital crowdfunding platform that strove to connect high-growth startups raising capital with accredited private investors from around the world. Its value proposition was to democratize an inefficient market for private equity that had historically been dominated by a small number of highly connected venture capital firms (VCs). The case asks students to put themselves in the shoes of OurCrowd s head of investor community as he prepares for a meeting with the company s board of directors to discuss potential strategies for growth: Should the company partner with the incumbent VCs it initially sought to disrupt, emphasize marketing its Portfolio Reserve fund, strive to provide its investors and investees with higher value-added services, target a broader swath of investors by aggressively marketing the platform in international markets, or attempt to go up-market and pursue increasingly larger deals with later-stage companies? Through assessing these options and discussing this case, students will learn about incentive problems in two-sided markets as well as how different types of crowdfunding platforms create value for users.

In late 2019, Dr. Hiroaki Kitano, the president and director of research at Sony Computer Science Laboratories (Sony CSL), had decided he would be stepping down from his position soon. Sony CSL, a small blue-sky fundamental research facility funded by Sony, had always operated on the strength of the trust between Sony's CEO and the lab's director. Sony had been hands-off in its management, leaving Kitano to hire, fire, fund, and evaluate the lab's researchers and project portfolio at his own discretion. Now that he was stepping down, however, he worried that Sony CSL could not withstand his departure. Kitano wanted to make a transparent plan for the organization's future before he handed off Sony CSL to his successor. That plan involved three key decisions. First, what should be the optimal structure and governance of Sony CSL? Should it maintain its independence and autonomy, or should it align more closely with Sony's business priorities? Second, how could Sony CSL scale its impact on Sony and society at large, given its small size? Finally, should Sony CSL establish some standard methods of measuring project success and strength of the portfolio? In making these decisions, Kitano wanted to ensure that he preserved the unique culture that had allowed Sony CSL to pursue path-breaking research and innovation.