How successful are crowdfunding projects?

In recent years, crowdfunding has established itself as a new instrument for financing innovative product ideas and start-ups. Experience has shown that the success of individual crowdfunding projects that seek capital on platforms such as Kickstarter varies greatly. On the one hand, there are brilliant successes in which the financing target is exceeded many times over. On the other hand, many projects find almost no investors at all. Inspired by this discrepancy between success and failure, an empirical study was conducted to investigate which factors positively influence the success of crowdfunding projects. The key findings were finally summarized in seven well-founded principles for successful crowdfunding.