Crowdfunding for Social Economy organisations: success factors

Abstract

This paper aims to analyse the key success factors of crowdfunding based on rewards in social projects promoted by Social Economy organisations. For this purpose, we used the information from the Goteo database, which has been compiled manually, and consists of a total of 134 projects, involving around 12,321 investment decisions and a total amount raised of more than one million euros. By using the logit model, the following relevant conclusions have been obtained. First, the variables that have shown a positive effect on the chance of success of crowdfunding projects have been those related to the experience of the founders and the location of the project. Second, regarding the type of entity, associations are more successful than cooperatives, non-profit organizations, and foundations. Finally, the variable related to gender and human capital of the project members don’t have an influence on the success of the project.