Entrepreneurship and Fintech Development: Comparing Reward and Equity Crowdfunding

The spread of new Financial Technologies, better known as Fintech, offers many opportunities and challenges for entrepreneurs, however little is known on Fintech development. This study describes five areas in order to improve our knowledge on Fintech development: regulation, infrastructure, technologies, finance, innovations. Crowdfunding (CF) platforms are among the main players of the so-called Fintech revolution and many entrepreneurs use these platforms to get both funds and new knowledge for their ventures. The two main CF models are reward crowdfunding (RCF) and equity crowdfunding (ECF). Our study proposes four research propositions to compare these two models. In particular we focus on several campaigns characteristics: video, images, updates, comments. Hopefully this study sheds some lights on Fintech development and will have several implications for scholars and practitioners.