@inproceedings{8a933ebdc09e4dc0860f03dc414e8633,
title = "Success factors in title III equity crowdfunding in the United States",
abstract = "Title III of the JOBS Act took effect in May 2016 and it began a new chapter in equity crowdfunding in the United States by providing an opportunity for entrepreneurial ventures to solicit funding from non-accredited investors. Due to the relative novelty, little is known about factors that can affect equity crowdfunding success under Title III. To address this gap in research, we draw on the risk capital framework and we examine the effects of market, execution and agency risks in equity crowdfunding under Title III. We collect data on 133 ventures that attracted more than $11 million in funding commitments across sixteen Title III equity crowdfunding platforms. We find that all three types of risks can affect the likelihood of successful fundraising under Title III. We discuss the implications of these findings for entrepreneurs, investors, crowdfunding platforms and policy makers.",
author = "Stanislav Mamonov and Ross Malaga",
note = "Funding Information: 1 – the company has received funding from a professional angel investor 0 – none Funding Information: 19.5% of the ventures in our dataset had received funding from professional angel investors Funding Information: 1 – the company has received funding from a venture capital firm 0 – none Funding Information: 18% of the ventures in our dataset had received funding from VC investors Publisher Copyright: {\textcopyright} 2018 IEEE Computer Society. All rights reserved.; null ; Conference date: 02-01-2018 Through 06-01-2018",
year = "2018",
language = "English",
series = "Proceedings of the Annual Hawaii International Conference on System Sciences",
publisher = "IEEE Computer Society",
pages = "3401--3410",
editor = "Bui, {Tung X.}",
booktitle = "Proceedings of the 51st Annual Hawaii International Conference on System Sciences, HICSS 2018",
}