USING CROWDFUNDING AS PART OF THE PRODUCT DEVELOPMENT PROCESS

H. Forbes, J. Han, D. Schaefer
2020 Proceedings of the Design Society: DESIGN Conference  
AbstractCrowdfunding is the process of taking a project in need of investment and asking a large group of people to supply the investment. It allows organisations to sell their product before production, reducing the risk of new product development. Organisations such as Tesla and General Electric have used crowdfunding successfully but crowdfunding is yet to be explored as part of a formalised product development framework. This paper includes the business case for commercialising new products
more » ... with crowdfunding and presents crowdfunding as part of a product development and commercialisation framework.
doi:10.1017/dsd.2020.256 fatcat:7begly3lavatbmcvgfb3k6o5k4