This week, Professor Ethan Mollick of the University of Pennsylvania released its recent study on Kickstarter’s impact on the economy. The study revealed the following:
Employed 283,000 part-time collaborators - Created 8,800 new companies and nonprofits with 29,600 new full-time jobs
- Raised more than $5.3 billion for those creators and their communities
Mollick reported:
“From inception to May 2015, Kickstarter projects resulted in around 5,135 ongoing full-time jobs besides those that went to creators (95% CI: 1,188 to 9,082), and led to the hiring of around 160,425 temporary workers (95% CI: 145,330 to 175,518). Over 50% of projects were reported as being innovative by both backers and creators, and projects produced over 2,601 patent applications.”
Last year, Mollick conducted a study on Kickstarter’s project fulfillment, which revealed:
“Kickstarter is a new model for bringing creative projects to life. Compared with other funding models — film studios, grant-makers, publishers, venture capitalists — there are fewer barriers to entry, and a greater opportunity to take risks on new ideas. Creators from diverse backgrounds, at every level of experience from across the creative universe, can find backing for their ideas.”
See Mollick’s new case study below.
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