Investigating the Relationship of Technological Entrepreneurship Ecosystem and Crowdfunding According to Isenberg's Model

The cities of the world are becoming centers of innovation, and today the technological entrepreneurship ecosystem is very important. Therefore, the purpose of this study was to investigating the relationship of technological entrepreneurship ecosystem and crowd funding according to Isenberg's model.

In a descriptive-analytical study from type of correlation, 225 people from middle and senior managers and experts in the field of investment were selected as a sample based on Cochran's formula by simple random sampling method. The samples responded to the standard questionnaires of technological entrepreneurship ecosystem (Isenberg, 2011) and crowd funding (Shabanian, 2012), whose validity and reliability were confirmed. Data were analyzed with Pearson correlation coefficients and linear regression tests in SPSS24 software.

The findings showed that all six components of the technological entrepreneurship ecosystem including policy, financing, culture, supports, human capital, and markets had a positive and significant correlation with all four components of crowd funding including the type, role, goals, and scope of crowd funding. Also, the components of technological entrepreneurship ecosystem could significantly explain 62.7% of crowd funding changes, which according to the beta value, the variables of policy, human capital, culture, markets, financing and supports had a direct and significant effect on crowd funding  (P<0.001).

The results indicated the relation and effective role of technological entrepreneurship ecosystem in crowd funding. Therefore, for the improvement of crowd funding can be provided the ground for the promotion of the technological entrepreneurship ecosystem.