Crowdfunding, is money just the tip of the iceberg?

The need for financing has always been a key issue for entrepreneurs. Hitherto, entrepreneurs mainly used banks and private equity to finance their business, such as Bank loans, Business Angels or Venture Capitals. However, the financial crisis of 2008 has made difficult for entrepreneurs to be competitive and to find financing. As a result, they began to look for alternatives to traditional financing. With the arrival of the internet, crowdfunding is emerging as a credible alternative for entrepreneurs. The process of crowdfunding is fundamentally different from those of the traditional ways of financing, which leads to non-financial added values that could create a sustainable competitive advantage for entrepreneurs. Hence, the aim of this study is to determine if the non-financial added value of crowdfunding create a sustainable competitive advantage for entrepreneurs. In addition to the academic contribution, since this study includes several recommendations, it can be used by entrepreneurs as a guide to take full advantage of crowdfunding and as a tool to use crowdfunding to create a sustainable competitive advantage.