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USING CROWDFUNDING FOR DESIGN DRIVEN, NEW ENTREPRENEURIAL VENTURES
Soren Ingomar Petersen 한국디자인학회 2015 한국디자인학회 학술발표대회 논문집 Vol.2015 No.10
The main strategic advantage of design driven new entrepreneurial ventures’ consists of providing breakthrough innovative offerings while mitigating exposure to the disproportionately large risk. One way of managing this risk is for their design team to prototype and test the offering, rapidly releasing a series of improved minimal viable products (MVP). Online crowdfunding platforms are an attractive venue for design driven new entrepreneurial ventures to quickly and inexpensively test market adaption due to their high degree of visual user-interface. This paper explores the crowdfunding campaign process, together with the pros and cons of running campaigns and identifies early lead predictors for achieving a high level of pledging on a crowdfunding platform. Our contribution to the design and business literature consists of recommendations on how to apply online crowdfunding to establish and validate design - market opportunities for design driven new entrepreneurial ventures.
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Soren Ingomar Petersen 한국디자인학회 2015 한국디자인학회 학술발표대회 논문집 Vol.2015 No.10
Business success and execution of design-centered ventures depends to a large extent on aligning design creativity with the venture’s chosen innovation type of either incremental or breakthrough innovation. Innovative ideas require a combination of focused effort synthesizing across domains for creating insights through the use of analogies. Although systematic searches and combinations can aid the process, experience tells us that many ideas need time to incubate. This study uses a questionnaire with a mixture of open and closed ended questions to explore the required focus effort, time delay, and inspirational activities conducive to idea generation together with the influence adequate sleep has on the incubation period. In conclusion, it prescribes an appropriate incubation scheduling time factor when undertaking the ideation phase in New Product Development. It offers suggestions to further ensure the emergence of ideas for breakthrough innovative designs.
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