Crowdfunding in a Not-So-Flat World

This article analyzes the geographic clustering of crowdfunding (CF) activity across two countries at the city level, and the ability of Kickstarter projects to attract funding or backers. The study shows that while the locations of Kickstarter projects are not as clustered, projects that are able to recruit funding are clustering. In addition, digital media (DM) projects cluster more than Local projects. Controlling for the pre-existing geographic distribution of population and economic activity, the study finds more complex patterns of geographic clustering.