Unlocking the secrets of success: factors driving reward-based crowdfunding success in India

Purpose Crowdfunding is a novel approach to securing funds for start-ups. It could offer a possible solution for funding deficits in emerging economies. This study aims to explore factors influencing the success of reward-based crowdfunding campaigns (CFCs) in the context of India. Design/methodology/approach This research collected data from 403 campaigns launched on a reward-based crowdfunding platform named Fueladream. Data has been gathered for the campaigns initiated and completed between 2016 and 2024. The study used logistic regression for data analysis. Findings The results suggest that short funding duration, number of images, video length, number of updates, number of comments and number of backers have a positive influence on the campaign’s success. However, high funding goals, excessive number of videos, social network and the creator’s experience are negatively related to success. The study also reveals that the initiation stage of a CFC is the most important and sets the tone for the entire campaign. Originality/value This study enhances the existing literature in multiple ways. First, it adds to the ongoing debate on the success factors of crowdfunding in emerging economies by exploring stage-wise factors contributing to the campaign’s success in India. Second, this study includes multiple types of campaigns to understand the factors driving funding success. Moreover, this study validates the applicability of signaling theory as the theoretical framework.