Attuning Signals in Scientific Crowdfunding: What Works and What Doesn't?

Research on crowdfunding has extensively explored the characteristics that predict campaign success, predominantly focusing on crowdfunding for business and for charity. Other crowdfunding models have received less attention, and this oversight is problematic, because the effects of predictors are known to vary across contexts, and setting up a campaign with the right signals can be costly. This study addresses this gap by examining the impact of static and dynamic signals on crowdfunding success in 1815 scientific crowdfunding campaigns using a Bayesian estimation framework and extensive robustness checks. Visual cues and gender signals emerge as powerful predictors of success, while visible support from experts can also enhance a campaign’s success probability. While the study reaffirms some established findings, it also uncovers unique aspects of scientific crowdfunding, such as the varying importance of previous campaign experience and the influence of specific signals across different scientific disciplines.