Analysis of the co-creation of a crowdfunding platform with shared local entrepreneurial value

A region's ability to fully take advantage of entrepreneurial opportunities depends on the institutional setting with the creation and dissemination of knowledge. Following Müller (2016), entrepreneurship may be thought of as "the creation of new ventures by individuals or groups through which new economic or social value is created in communities or regions". Economic actors can seek alternate modes of entrepreneurship financing. Digital platforms such as crowdfunding can affect the traditional supply chain finance. Such platforms create new market players who co-create economic value. Because of its digital presence, crowdfunding provides the opportunity to raise funds beyond local areas. However, this raises questions about whether such a platform can generate local entrepreneurship. This study investigates how the implementation of a crowdfunding platform and the co-creation of value generated by local institutional actors enhance the economic development of a region.