Document Type : Original research
Authors
1
Associate Professor, School of Business Management, School of Management, University of Tehran, Tehran
2
Ph.D of Technology management, University of Tehran lecturer and managing director of University of Tehran Research and Technology Fund
3
Master's student in Islamic Studies and Economics, Department of Financial Economics, Faculty of Islamic Studies and Economics, Imam Sadiq University (AS), Tehran, Iran.
4
PhD student of business and strategic management, majoring in marketing management, University of Tehran, Tehran
Abstract
Innovative and technology-based companies are constantly seeking ways to meet their financial needs. One of the approaches available to them is crowdfunding. This study focuses on innovative and technology-driven companies that have successfully utilized crowdfunding for financing and aims to identify and rank the critical components and criteria from their perspective. Based on document analysis and expert validation, 11 key components in this field were identified. These include; platform commission rates, investment returns on projects, investment period duration, guarantees received, and more. Subsequently, using the Importance-Performance Analysis (IPA) method, pairwise comparison questionnaires were designed and distributed among experts active in this domain. Following the applied method, the Importance-Performance Matrix was drawn, revealing the following: A) The criterion "investment period duration" was located in the first quadrant (focus area); B) The criteria "platform commission rates","investment returns on projects","guarantees received to control default risk","cost of guarantees" and "platform acceptance and publication framework" were placed in the second quadrant (maintain good performance); C) The criteria "project funding ceilings","regulatory intervention in setting profit ceilings","time required to complete project funding after publication" and "possibility of selling participation certificates before maturity" were in the third quadrant (low-priority) and D) The criterion "time required for project acceptance and publication" was positioned in the fourth quadrant (resource wastage). Finally, ranking the criteria revealed that "possibility of selling participation certificates before maturity","investment period duration" and "project funding ceilings" ranked highest, while "time required for project acceptance and publication","platform commission rates" and "guarantees received to control default risk" ranked lowest.
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