CE38 - Interfaces : sciences du numérique - sciences humaines et sociales

Understanding, Modeling and Improving the outcome of Crowdfunding campaigns – UMICrowd

Submission summary

Crowdfunding (CF) allows entrepreneurs who are willing to overcome classical funding channels such as venture capital and credit loans to address directly the crowd via online Crowdfunding Platforms (CFP) for collecting financial resources.
The objectives of UMICrowd are to understand dynamics of CF, explore its social dimension, and model the interactions between its different stakeholders. This understanding and this modeling will allow developing a decision making framework for CFPs in the processes of project classification, selection and promotion, with as objective the increase of their socio-environmental impacts.
UMICrowd project starts by a qualitative analysis that analyzes the motivations of CF and its causality mechanisms. A quantitative then explores quantitatively the dynamics of Crowdfunding and identifies parameters that influence the success of projects. These dynamics include those of the Crowd (fund collection), of the entrepreneurs (pace of project creation, interactions) and of the platform (project selection and promotion processes). We will then propose project classification tools following socio-environmental metrics. We will then develop mathematical models based on game theory that explain and reproduce the observed behavior of CF stakeholders. Once these models are obtained, they will be integrated in a decision-making framework that allows the different actors to select the set of parameters that help achieve their targets (increasing success and socio-environmental impacts). Real options will be a privileged tool as it allows making optimal decisions dynamically under uncertainty. The main outcome of UMICrowd will be a decision-making framework as follows:
- for entrepreneurs, a methodology for optimizing the parameters of their campaign (duration, goal, timing, etc.) for increasing its chance of success.
- for funders, a mechanism for selecting the project to fund, depending on their preferences.
- for CFP managers, a framework for increasing the success rate on the platform by ensuring a better balance of funding among projects, and for increasing their social impact by introducing mechanisms that increase the fairness, sustainability and diversity among the funded projects.
UMICrowd gathers experts from different domains (economy, sociology, mathematics, data science) for achieving these targets.

Project coordination

EL AYOUBI Salah (CentraleSupélec)

The author of this summary is the project coordinator, who is responsible for the content of this summary. The ANR declines any responsibility as for its contents.

Partner

FPF Financement Participatif France
LIA Université Avignon et Pays du Vaucluse
L2S CentraleSupélec
CRAN Centre de recherche en automatique de Nancy
ESCE ECOLE SUPERIEURE DE COMMERCE EXTERIEUR

Help of the ANR 396,062 euros
Beginning and duration of the scientific project: - 48 Months

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