Determinants of the well-succeeded crowdfunding projects in Brazil: A study of the platform kickante

Abstract

This work analyzed the determinants for the success of crowdfunding projects in the Brazilian platform Kickante, using the model proposed by Mourão and Costa (2015). We found that the total raised value per project increases with the number of investors (‘kickantes’) and with the minimum value ensuring the maximum prize in each project. In relation to the percentage of achieved target, it increases with the number of investors; but it reduces in case of projects supported by an informal group, or for projects regarding books, musical editions or music concerts. The value per investor raises with the minimum value invested for the maximum prize and with certain types of promoters (favoring informal groups or firms/companies).