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Title Developing Islamic crowdfunding website platform for startup companies in Indonesia
ID_Doc 67547
Authors Hendratmi, A; Ryandono, MNH; Sukmaningrum, PS
Title Developing Islamic crowdfunding website platform for startup companies in Indonesia
Year 2020
Published Journal Of Islamic Marketing, 11, 5
DOI 10.1108/JIMA-02-2019-0022
Abstract Purpose This study aims to develop an Islamic crowdfunding model based on a website platform for startup companies. Design/methodology/approach Apart from reviewing related literature, specifically focus group discussion with 16 CEO of startup companies, in-depth interview with two crowdfunding provider, Fiqh expert and technology platform expert for the development of an Islamic crowdfunding website platform for startup companies. Findings The concept of Islamic crowdfunding is recommended as a funding solution for small and medium-sized enterprises and startup companies. Therefore, it was deemed crucial for this study to develop an Islamic crowdfunding model based on a website platform as a form of innovative acceleration to provide alternative funding for a startup company, which subsequently expands to a growing and sustainable business. Furthermore, the use of a website platform for the operation of a crowdfunding mechanism is deemed as an effective means to link cross-geographical investors with the startup company owners in Indonesia, specifically East Java. Practical implications Islamic crowdfunding website platform can be the solution for startup companies to obtain capital funds while startup companies are not able to provide collateral to attain financial assistance and experience problems. Expectedly, the government should provide legality, regulation, licensing and socialization matters pertaining to crowdfunding to obtain legal legality from the country. Originality/value There is still no research to develop the Islamic crowdfunding model using a website platform. This study was expected to provide essential insights on the effective development of an Islamic crowdfunding website platform integrated with startup companies, investors and Sharia committee.
Author Keywords Crowdfunding; Startup; Startup companies; Islamic crowdfunding; Website platform
Index Keywords Index Keywords
Document Type Other
Open Access Open Access
Source Emerging Sources Citation Index (ESCI)
EID WOS:000563978900001
WoS Category Business
Research Area Business & Economics
PDF https://repository.unair.ac.id/113248/11/102-Similarity_PujiSucia_Developing-Islamic.pdf
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