Lean start-up companies by means of crowdsourcing
Research output: Contribution to journal › Letter › Scientific › peer-review
|Number of pages||4|
|Journal||Journal of Innovation Management|
|Publication status||Published - 10 Jul 2015|
|Publication type||A1 Journal article-refereed|
Lean start-up approach provides both small and larger companies a novel, important and useful way to organize their business development, while reducing related high risks. Traditional start-ups face a multitude of significant challenges and risks. A study by Ghosh showed that as many as 75% of all start-ups fail. Earlier research has preliminarily demonstrated that crowdsourcing has the potential to reduce the risks of failure of start-ups, as well as overcome some of the inherent challenges lean start-ups face. We argue that crowdsourcing can significantly improve the leanness and agility of start-ups’ business functions.
- open innovation, crowdsourcing, lean start-up, innovation