Awareness towards Crowdfunding as an Alternative Financing Mechanism among Youth Entrepreneurs

Crowdfunding green projects in Brunei: awareness and investing preferences

“…Youth start-ups in Malaysia prefer the donation-based model first, followed by a reward-based model as these two crowdfunding models are less risky when compared to the equity-based and lending-based models (Mokhtarrudin et al , 2017). This is further supported in the study by Salim and Kassim (2019) who find that Malaysian youth entrepreneurs prefer donation-based crowdfunding. Moon and Hwang (2018) suggest that the most appropriate crowdfunding model for technology projects in Korea is the donation-based model while in Turkey, the most preferred crowdfunding model from the point of view of the fundraiser is the reward-based model but backers prefer to use the equity-based model (Sirma et al , 2019).…”

“…The respondents are asked if they are familiar with the concept of crowdfunding and if they have ever invested or participated in crowdfunding activities. For both these questions, respondents have to answer either “Yes” or “No.” The items are adopted from past studies on awareness from Bergmann et al (2016), CRUCIAL (2016) and Salim and Kassim (2019). The familiarity of the respondents about existing crowdfunding platforms is also identified to further understand the level of awareness of the respondents about crowdfunding.…”

“…In Turkey, Sirma et al (2019) find that 54% of the youth from a university in Istanbul do not understand the terms of crowdfunding, but their awareness is still relatively high compared to youths from a university in Spain. In Malaysia, Salim and Kassim (2019) find that 62% of youth entrepreneurs have a low level of awareness of crowdfunding while Wasiuzzaman et al (2021) find that only 49.1% of their respondents have experience in crowdfunding. Moon and Hwang (2018) find that 50.1% of the general public in Korea had experience in using crowdfunding.…”