Civic crowdfunding in local governments: Variables for success in the Netherlands?

By using information technology, local governments can develop alternative forms of citizen engagement. Civic crowdfunding campaigns supported by online platforms enable citizens to participate financially in social projects and can be matched with government funding. As such, an alternative for sub...

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Bibliographic Details
Published in:Journal of risk and financial management 2021-01, Vol.14 (1), p.1-13
Main Authors: van Montfort, Kees, Siebers, Vinitha, de Graaf, Frank Jan
Format: Article
Language:English
Subjects:
citizen engagement
Citizens
civic crowdfunding projects
Crowdfunding
Election results
Local elections
Municipalities
Neighborhoods
online platforms
Social networks
Success
success factors of funding campaigns
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Summary:By using information technology, local governments can develop alternative forms of citizen engagement. Civic crowdfunding campaigns supported by online platforms enable citizens to participate financially in social projects and can be matched with government funding. As such, an alternative for subsidies seems to be developing. In this paper, we assess empirically the success of civic crowdfunding campaigns in the Netherlands by using data collected during 2018 from 269 civic crowdfunding projects and local demographic data from the neighborhoods of these projects. The factors - the use of match-funding, the target amount of money, and the theme of the project, as well as the age structure, the province, and the degree of urbanization of the neighborhood of the civic crowdfunding project-turn out to be empirically related to the success of a civic crowdfunding campaign.
ISSN:1911-8074
1911-8066
1911-8074
DOI:10.3390/jrfm14010008