Crowdfunding for Responsible Entrepreneurship

This chapter introduces the key ideas and mechanisms of crowdfunding. On this basis, it highlights how crowdfunding can serve financing and marketing responsible entrepreneurship, paying particular attention to success factors responsible entrepreneurs should consider when conducting a crowdfunding campaign. For illustration, the case of fairafric, a fair-trade and organic chocolate producer that successfully made use of crowdfunding multiple times, is introduced. Building on this case and the empirical literature at the intersection between crowdfunding and responsible entrepreneurship, propositions are formulated. These highlight the growing importance of crowdfunding for responsible entrepreneurs, the increasing professionalization of crowdfunding as well as obstacles for the future development of the phenomenon.