Turning Shared into Firm-specific Resources: The Complementarity of Local Ecosystem and Crowdfunding Services

Stephan Manning, Madeleine Rauch, Stanislav Vavilov

Research output: Contribution to conferencePaperResearchpeer-review


This study helps better understand how entrepreneurial ventures, which typically lack an internal resource base, create venture-specific value from tapping into semi-public resource environments. Based on a multi-case study of 54 entrepreneurial ventures, and guided by the resource-based view, we examine how these ventures enact and combine resources in venture-specific ways from local entrepreneurial ecosystems and Kickstarter, a crowdfunding platform. We find that new ventures apply the complementarity principle to create value from multiple shared resource environments. Globally oriented ventures exploit technologies and skills from local entrepreneurial ecosystems, and use them as brands to mobilize global support through crowdfunding (inside-out strategy). Locally oriented ventures use crowdfunding to augment and catalyze local community support and market-building (outside-in strategy). Our findings contribute to research on how entrepreneurial ventures create value from external resources in general and from sharing economy services, such as crowdfunding platforms, in particular.
Original languageEnglish
Publication date2019
Number of pages43
Publication statusPublished - 2019
EventDRUID19 Conference - Copenhagen Business School, Frederiksberg, Denmark
Duration: 19 Jun 201921 Jun 2019
Conference number: 41


ConferenceDRUID19 Conference
LocationCopenhagen Business School
Internet address


  • Entrepreneurial process
  • Funding
  • Resource value creation
  • Sharing platforms
  • Local ecosystems
  • Complementarity

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