The emergence of well-being in crowdfunding: a study of entrepreneurs and backers of reward and donation campaigns

Purpose The current study explores the emergence of well-being, a fundamental human goal, in the crowdfunding process by investigating entrepreneurs and backers' interactions within reward and donation campaigns. Design/methodology/approach The study is based on interviews with 64 entrepreneurs and 50 backers of rewards and donation campaigns. Findings The analysis revealed that the crowdfunding experience triggers all three aspects of well-being--hedonic, eudaimonic and social--for both entrepreneurs and backers. These aspects emerged in the course of the campaign's life stages. Originality/value The study establishes well-being as a core aspect of entrepreneur-backer interaction and shows how entrepreneurs' well-being feeds back into backers' well-being and vice versa. Furthermore, it illustrates how well-being, in its various aspects, develops during the different stages of the crowdfunding process to facilitate a full well-being experience and a sense of accomplishment for both types of participants.

Automated summary

This study reveals that interactions between entrepreneurs and backers in crowdfunding campaigns trigger all three aspects of well-being - hedonic, eudaimonic, and social - at different stages of the campaign. Furthermore, it shows how entrepreneurs' well-being influences backers' well-being and vice versa, leading to a comprehensive well-being experience and sense of accomplishment for both parties.