The Diffusion of Crowdfunded Innovations - Research towards the adoption of Oculus Rift

Abstract

The adoption of newly introduced innovations has been a frequently researched topic, approached from different academic angles. This research investigates to what extent the diffusion of innovations theory by Rogers (1963 [2003]) is a useful framework for studying the diffusion of innovations through crowdfunding websites. These websites allow innovation developers to present their product to potential customers and allow them to participate in the development process by donating money, which generates social engagement, even though there is only a prototype available. Rogers’ theory is based on the adoption of fully diffused innovations, whereas the case study for this thesis is Oculus Rift, a prototype seeking crowdfunding to reach commercial markets.To find to what extent the diffusion of crowdfunded prototypes and innovations differ from each other, the four elements known to influence diffusion, innovation, communication channels, social system and time form the theoretical framework and spine of thesis. These four elements are analysed by means of an approach that resembles a hermeneutical circle.