Exploring Factors Influencing the Success of Crowdfunding Campaigns of Startups in Vietnam

Abstract

Over the past years, crowdfunding has been known as an effective funding channel for startups, especially in developed countries such as the United States, the United Kingdom and Germany. Nowadays, along with the rise of startups in Vietnam, will crowdfunding be a fruitful funding channel? What are the success determinants for a crowdfunding campaign of startups in Vietnam? With the data from five most well-known crowdfunding platforms (CFP) in Vietnam, we explore the factors which are significant for the success of crowdfunding campaigns of startups. Besides, this article also shed lights on the prospects and challenges ofcrowdfunding in Vietnam and proposes some recommendations for parties participating in the crowdfundingsystem.