Crowdfunding as a Socio-Technical Ecosystem: Reassembling Reward-Based Financing for Rural Innovation in Mindanao

Abstract

Crowdfunding has emerged as a transformative financial technology, offering alternative pathways to capital beyond traditional banking and lending institutions. While reward-based crowdfunding has flourished globally, its application in developing contexts remains limited, especially in rural and marginalized regions. This paper explores how reward-based crowdfunding can be reassembled as a digitally mediated ecosystem for rural innovators in Mindanao, Philippines. Anchored in Actor-Network Theory (ANT), the study examines how human and non-human actors, including entrepreneurs, funders, platforms, payment infrastructures, regulators, and cultural narratives, interact to shape campaign outcomes. Comparative analysis of global cases and local experiences highlights both universal drivers and contextual barriers. Findings show that niche products, diaspora networks, and NGO partnerships provide opportunities for inclusive crowdfunding models. Policy implications and future research directions are identified to strengthen rural innovation ecosystems.