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Crowdfunding as an Alternative Means for Funding Sustainable Appropriate Technology: Acceptance Determinants of Backers

Younghwan Moon () and Junseok Hwang ()
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Younghwan Moon: Technology Management, Economics and Policy Program, Seoul National University, Seoul 08826, Korea
Junseok Hwang: Technology Management, Economics and Policy Program, Seoul National University, Seoul 08826, Korea

Sustainability, 2018, vol. 10, issue 5, 1-18

Abstract: The research and development as well as the propagation of sustainable, appropriate technology requires the availability of stable funding. Crowdfunding is a form of funding whereby small sums of investments or contributions are collected from the general public and used to finance the development of goods or services. This method has been widely used in the arts and cultural fields and presents a useful alternative means by which to fund appropriate technology projects. The aim of this study is to identify the factors that influence backers who participate in appropriate technology projects through crowdfunding platforms, analyze the connections among these factors, and thereby establish the usefulness of crowdfunding as a viable new funding alternative. Results indicate that the key factors influencing user intention to crowdfund appropriate technology projects include social influence, effort expectancy, and perceived trust. In comparison to the findings of previous studies, performance expectancy was not found to have a significant effect. When compared to crowdfunding conducted in other fields, these results suggest that crowdfunding for appropriate technology is closer in nature to donations. Accordingly, for funding of these projects to be successful, aggressive online exposure using the social network service (SNS) of backers should be pursued from the earliest stages of funding.

Keywords: appropriate technology; crowdfunding; UTAUT model; technology service acceptance factor (search for similar items in EconPapers)
JEL-codes: Q Q0 Q2 Q3 Q5 Q56 O13 (search for similar items in EconPapers)
Date: 2018
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