Innovation, team creativity, and intellectual property in equity crowdfunding: a fuzzy and disaggregated approach

This study investigates how project radicalness, team creativity, and intellectual property influence the success of equity crowdfunding (ECF) campaigns. Using fuzzy-set Qualitative Comparative Analysis (fsQCA) on a sample of 42 campaigns from Italian ECF platforms, we explore the configurations of innovation-related dimensions that lead to successful fundraising outcomes. Our findings reveal that no single factor guarantees success. Rather, specific combinations of innovation dimensions are crucial. These results support a contingent perspective and offer practical insights for campaign designers and platform managers seeking to optimise innovation signalling in ECF.