%0 Journal Article %J Technology Innovation Management Review %D 2021 %T Technology Project Summaries as a Predictor of Crowdfunding Success %A Mika Westerlund %A Ishdeep Singh %A Mervi Rajahonka %A Seppo Leminen %K backers %K crowdfunding %K failure %K funding %K fundraising %K Kickstarter %K prediction %K project %K success %K topic modelling %X Crowdfunding has emerged in recent years as an important alternative means for technology entrepreneurs to raise funds for their products and business ideas. While the success rate of crowdfunding projects is somewhat low, scholarly understanding of what distinguishes projects that reach their fundraising goals from those that fail remains incomplete. Further, studies on crowdfunding success often examine a number of variables that make predicting success a challenge for entrepreneurs wiling to use crowdfunding. This study uses topic modelling on a data set of over 21,000 technology projects from Kickstarter to investigate if short-text project summaries can reveal predictors of fundraising success on crowdfunding platforms. The results indicate that compared to those that fail in fundraising, project summaries of successfully funded technology projects put forward more trendy topics, use wording that reflects novelty, and focus on solving a social problem. Our results contribute to theory and practice by suggesting the importance of summarizing project content for crowdfunding success. %B Technology Innovation Management Review %I Talent First Network %C Ottawa %V 11 %P 33-44 %8 12/2021 %G eng %U timreview.ca/article/1472 %N 11-12 %1 Carleton University Mika Westerlund, DSc (Econ), is an Associate Professor at Carleton University in Ottawa, Canada. He previously held positions as a Postdoctoral Scholar in the Haas School of Business at the University of California Berkeley and in the School of Economics at Aalto University in Helsinki, Finland. Mika earned his doctoral degree in Marketing from the Helsinki School of Economics in Finland. His research interests include open and user innovation, the Internet of Things, business strategy, and management models in high-tech and service-intensive industries. %2 Carleton University Ishdeep Singh is a web developer at the ITS web services Team at Carleton University. He is a technology enthusiast and has completed his master's in Technology Innovation Management (TIM) program from Carleton University. He has worked with big consulting firms - Infosys as well as small-scale digital marketing and real estate technology startups. Ishdeep is an inventive IT professional receptive to novel technologies and measures that are specially associated with societal benefits. He is proficient in researching and analyzing data to identify, create and execute technological problems related to the Implementation, Adaptation and scalability of Products. His present research interests include business technology strategy, social analytics, technology optimization, adaptation strategy, SME and marketing. %3 South-Eastern Finland University of Applied Sciences Mervi Rajahonka, DSc (Econ), MSc (Tech), LLM, works as RDI Specialist in the field of Digital Economy at South-Eastern Finland University of Applied Sciences Xamk, Finland, and as Adjunct Research Professor at Carleton University in Canada. Her research interests include digitalization, entrepreneurship, business models, working women, service innovations and sustainable logistics. Her research has been published in numerous publications and international refereed journals. Her publications are listed on Google Scholar. %4 University of South-Eastern Norway Seppo Leminen is Drammen City Municipality chaired (Full) Professor of Innovation and Entrepreneurship in the USN School of Business at the University of South-Eastern Norway in Norway, an Adjunct Professor of Business Development at Aalto University in Finland and an Adjunct Research Professor at Carleton University in Canada. He holds a doctoral degree in Marketing from the Hanken School of Economics and a doctoral degree in Industrial Engineering and Management in the School of Science at Aalto University. He is an Associate Editor in Techovation and an Associate editor in BRQ, Business Research Quarterly. His current research topics includes digital business models and ecosystems (cf. Internet of Things), robotics, block chains, living labs, innovation ecosystems, collaborative and networked models of innovations, collaborative methods of innovations, as well as management and marketing models for different types of companies. Results from his research have been reported in Industrial Marketing Management, the Journal of Cleaner Production, the Journal of Engineering and Technology Management, the Journal of Business & Industrial Marketing, Management Decision, the International Journal of Innovation Management, and the Technology Innovation Management Review, among many others. %& 33 %R http://doi.org/10.22215/timreview/1472