Table 1 Crowdfunding models The... | Emerald Publishing

Table 1

Crowdfunding models

The crowdfunding model type	Return to the funder	The reference type of the project
Donation-based (or patronage)	The funders act as philanthropists; there is no material return for their support to the campaign. They get moral, reputational, hedonic or social return (e.g. social recognition and moral satisfaction) (Aitamurto, 2015; Beier and Wagner, 2016; Lee et al., 2016; Mollick, 2014)	Art, science, health, social and humanitarian
Lending-based	Funds are provided by funders as a loan, with a rate of interest (Mollick, 2014) or without (Aitamurto, 2015). In this case the return is hedonic or social	Social and technology
Reward-based	Funders receive a reward for backing the project. The reward can range from a symbolic object (e.g. T-shirts and stickers) to the full product/service for which the finance has been given (Aitamurto, 2015; Beaulieu et al., 2015; von Selasinsky and Lutz, 2021)	Creative, artistic, hospitality, cultural heritage, technology or consumer product development
Equity-based	Funders act as investors, who receive equity stakes in return for their funding (Elia et al., 2018)	Technology start-up

The crowdfunding model type	Return to the funder	The reference type of the project
Donation-based (or patronage)	The funders act as philanthropists; there is no material return for their support to the campaign. They get moral, reputational, hedonic or social return (e.g. social recognition and moral satisfaction) (Aitamurto, 2015; Beier and Wagner, 2016; Lee et al., 2016; Mollick, 2014)	Art, science, health, social and humanitarian
Lending-based	Funds are provided by funders as a loan, with a rate of interest (Mollick, 2014) or without (Aitamurto, 2015). In this case the return is hedonic or social	Social and technology
Reward-based	Funders receive a reward for backing the project. The reward can range from a symbolic object (e.g. T-shirts and stickers) to the full product/service for which the finance has been given (Aitamurto, 2015; Beaulieu et al., 2015; von Selasinsky and Lutz, 2021)	Creative, artistic, hospitality, cultural heritage, technology or consumer product development
Equity-based	Funders act as investors, who receive equity stakes in return for their funding (Elia et al., 2018)	Technology start-up

Source(s): Own elaboration