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2013 Crowdfunding - Injecting social data into a crowdfunding service

IP.com Disclosure Number: IPCOM000239786D
Publication Date: 2014-Dec-02
Document File: 2 page(s) / 43K

Publishing Venue

The IP.com Prior Art Database

Abstract

Disclosed is an enterprise crowdfunding system that highlights the people who are connected to proposals, and to actions on proposals. The system "injects" that personal and social data into the experience of crowdfunding to extend the project’s capabilities.

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2013 Crowdfunding

Crowdfunding --- Injecting social data into a crowdfunding service

Injecting social data into a crowdfunding service

On the Internet, crowdfunding occurs at sites where people propose projects, and the originators and other people invest in those projects. In some embodiments, if a project receives enough investment to reach its funding goal, then the funds are committed, and the project goes ahead. People can also follow a project (i.e., receive notifications about investments and other changes to the project ).

Enterprise crowdfunding is an experimental concept. The dynamics of enterprise crowdfunding are similar to the Internet model mentioned above, but have some differences. With enterprise crowdfunding, proposers and investors are employees of the enterprise. Investors spend money from an allowance that is provided by the enterprise. Employees can volunteer to contribute personal time and skills to a project . In addition, within enterprise crowdfunding, employees can share (i.e., recommend) a project to other employees.

The business importance of enterprise crowdfunding is two -fold. First, enterprise crowdfunding is a support for grassroots innovation, harnessing the wisdom of the employees both to source ideas and to evaluate those ideas . Second, enterprise crowdfunding can increase employee engagement through employees ' ability to influence new directions in their company.

Research in social media has shown that employees are more likely to engage with media if friends and/or colleagues have a relationship with one another, or if they can discover "things in common" that could lead to such a relationship. Earlier social psychology research has shown that having more information about a person or object tends to increase the likelihood of interacting, or of doing what is requested. Unlike in most internet crowdfunding sites, a specific company or organization has access to a depth of knowledge about each user, based on public profiles and corporate directory information. Some organizations also have the systems through which to recover additional social-networking data (i.e. public data).

The novel contribution is a system that highlights the people who are connected to proposals, and to actions on proposals. The system "injects" that personal and social data into the experien...