Crowdfunding and Museums: A Field Trip Exemplar in the United Kingdom

[Professors Miriam Isabella Cavalcanti Junqueira and Allan Discua Cruz of Lancaster University Management School recently published an article in the Entrepreneurship Education and Pedagogy which is entitled “Crowdfunding and Museums: A Field Trip Exemplar in the United Kingdom.” We are pleased to welcome them as contributors and excited to announce that the case study will be free to access on our site for a limited time. Below they reveal the development and impact of this research.]

This crowdfunding and field trip exemplar grew out of an attempt to integrate intra and extra classroom activities that could accentuate innovative trends in entrepreneurship teaching bridging theory and real-life applications. Additional considerations included galvanizing engagement of an international and multidisciplinary classroom environment. In the past few years, new financial trends and challenges have infiltrated the creative industries. This has prompted organizations to examine new funding models that could promote innovative artistic representations as well as entrepreneurial opportunities to increase visibility and the commercialization of enhanced consumer experiences including new products and services. We chose a local museum in the Northwest region of the United Kingdom to provide a social context for a museum field trip. The purpose of the field trip was to inform students on the challenges these types of organizations face. Additionally, students were asked to help this museum devise a crowdfunding campaign for a specific project that could publicize the museums offerings and heighten its online presence. Reward-based crowdfunding is a popular crowdfunding model used in the creative industries. It is also one of the latest tools in entrepreneurial finance that could help a creative organization to develop innovative projects with the potential to engage stakeholders’ communities, local businesses and government entities. We hope that our learning activity will be an inspiration to new scholars and educators to research the development of educational experiences that can facilitate the understanding of theoretical perspectives coupled with the simulation of ‘real world ‘experiences.

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