Kickstarter adaption: implementing crowd funding platfrom for Thai society.

Abstract

Kickstarter, an international crowd funding platform emerges from the expansion of internet availability and connected society. It has linked over 7.5 million people with $1 billion funding to support over 74,000 creative projects since 2009. While several crowd funding sites are populating across territories, it appears that Thailand still lacks the required environment to support individual creativity. This paper will explore the factors that prevents Thais from participating in international crowd funding platform and identify variables that will support establishment of local crowd funding platform suitable for Thai society. The data was collected by in-depth interview with 6 respondents from various fields of expertise related to innovation. The result from in-depth interview indicates that trust, low awareness and language barriers are the key factors that prevent Thais from participating in international crowd funding projects. We also able to identify that trust, transparency, convenient and public communication are needed to create foundation for Thailand based crowd funding platform. The final part includes the business model concept, limitation and recommendation.

KEY WORDS: Crowd Funding/Kickstarter/Innovation/Thailand