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

Abstract

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
https://conference.druid.dk/Druid/?confId=59

Conference

ConferenceDRUID19 Conference
Number41
LocationCopenhagen Business School
CountryDenmark
CityFrederiksberg
Period19/06/201921/06/2019
Internet address

Keywords

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

Cite this

Manning, S., Rauch, M., & Vavilov, S. (2019). Turning Shared into Firm-specific Resources: The Complementarity of Local Ecosystem and Crowdfunding Services. Paper presented at DRUID19 Conference, Frederiksberg, Denmark.
Manning, Stephan ; Rauch, Madeleine ; Vavilov, Stanislav. / Turning Shared into Firm-specific Resources : The Complementarity of Local Ecosystem and Crowdfunding Services. Paper presented at DRUID19 Conference, Frederiksberg, Denmark.43 p.
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Manning, S, Rauch, M & Vavilov, S 2019, 'Turning Shared into Firm-specific Resources: The Complementarity of Local Ecosystem and Crowdfunding Services' Paper presented at, Frederiksberg, Denmark, 19/06/2019 - 21/06/2019, .

Turning Shared into Firm-specific Resources : The Complementarity of Local Ecosystem and Crowdfunding Services. / Manning, Stephan; Rauch, Madeleine; Vavilov, Stanislav.

2019. Paper presented at DRUID19 Conference, Frederiksberg, Denmark.

Research output: Contribution to conferencePaperResearchpeer-review

TY - CONF

T1 - Turning Shared into Firm-specific Resources

T2 - The Complementarity of Local Ecosystem and Crowdfunding Services

AU - Manning, Stephan

AU - Rauch, Madeleine

AU - Vavilov, Stanislav

PY - 2019

Y1 - 2019

N2 - 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.

AB - 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.

KW - Entrepreneurial process

KW - Funding

KW - Resource value creation

KW - Sharing platforms

KW - Local ecosystems

KW - Complementarity

KW - Entrepreneurial process

KW - Funding

KW - Resource value creation

KW - Sharing platforms

KW - Local ecosystems

KW - Complementarity

M3 - Paper

ER -

Manning S, Rauch M, Vavilov S. Turning Shared into Firm-specific Resources: The Complementarity of Local Ecosystem and Crowdfunding Services. 2019. Paper presented at DRUID19 Conference, Frederiksberg, Denmark.