Abstract
Lean start-up approach provides both small and larger companies a novel, important and useful way to organize their business development, while reducing related high risks. Traditional start-ups face a multitude of significant challenges and risks. A study by Ghosh showed that as many as 75% of all start-ups fail. Earlier research has preliminarily demonstrated that crowdsourcing has the potential to reduce the risks of failure of start-ups, as well as overcome some of the inherent challenges lean start-ups face. We argue that crowdsourcing can significantly improve the leanness and agility of start-ups’ business functions.
| Original language | English |
|---|---|
| Pages (from-to) | 17-20 |
| Number of pages | 4 |
| Journal | Journal of Innovation Management |
| Volume | 3 |
| Issue number | 2 |
| Publication status | Published - 10 Jul 2015 |
| Publication type | A1 Journal article-refereed |
Keywords
- open innovation
- crowdsourcing
- lean start-up
- innovation
Publication forum classification
- Publication forum level 1