Purpose: Previous studies revealed that around 75 percent of all start-ups fail at an early stage. One main reason for this tremendous failure rate is that entrepreneurs are typically confronted with high levels of uncertainty about the viability of their proposed business idea. Following this argumentation, entrepreneurial decision-making can be defined as complex decision-making problem under both risk and uncertainty. While risk includes quantifiable probabilities, uncertainty describes situations where neither ...

The aim of this dissertation is to explore the innovation potential of crowdsourcing for entrepreneurship. The main focus is to discover how crowd-based infrastructures (i. e., crowdsourcing platforms and crowdfunding platforms) can support entrepreneurs in their innovation activities and how this new paradigm can be used to generate value for customers as well as actors of entrepreneurial ecosystems. The results of the dissertation show that crowdsourcing offers numerous opportunities to support entrepreneurs in ...