Crowfunding has been a game-changer for startups because it gives nontraditional entrepreneurs access to different sources of capital. In her research, Wharton management professor Valentina Assenova focuses on this relatively new phenomenon and how it is influencing startup activity. She recently spoke to Knowledge at Wharton about her research and how crowdfunding is democratizing access to capital in diverse areas of the U.S. An edited transcript of the conversation follows. Knowledge at Wharton: You look at the emergence of entrepreneurial activity, microfinance and crowdfunding. Could you talk about the different areas you study? Valentina Assenova: I’m very interested in how startups attain capital and the factors that enable them to survive and grow over time. I’ve looked at that in a variety of different contexts. Some of the contexts that I’m very drawn to are emerging markets, where there are many different impediments to entrepreneurial growth and success than there are in the United States.…