Exploring Crowdfunding Performance of Agricultural Ventures: Evidence from FlyingV in Taiwan

Crowdfunding has been growing rapidly as a new financing source for ventures. To support the application of crowdfunding for the agricultural sector, this study explored the characteristics and crowdfunding performance of agricultural projects. A total of 112 projects were selected from one of the largest crowdfunding platforms in Asia. The results showed most of the agricultural projects were grouped under the categories of leisure, public, or local. Within two months of the funding duration, each of these agricultural projects pledged an average of 6,880.9 USD from 123 contributors. But the total share and the overall success rate of agricultural projects remained low. Furthermore, project category, funding target, and number of contributors had significant effects on the crowdfunding performance of the agricultural projects. The findings suggest project initiators may need to diversify project categories, set a relatively low funding target, and expand social network to increase number of contributors.