Crowdfunding new paradigm for financing: Operational pattern of crowdfunding in Indonesia

Arifin, Sjamsul; Wisudanto,

doi:10.1201/9781351241892-68

Cited by 6 publications

(6 citation statements)

References 6 publications

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“…The existence of this equity crowdfunding-based fintech already has a legal umbrella from the Financial Services Authority (OJK) which is regulated in the OJK Regulation, namely POJK Number 57/POJK.04/2020 concerning Securities Offerings Through Information Technology-Based Crowdfunding Services. DOI 10.18502/kss.v9i4.15111 IRCEB Various results of previous studies explain that there is a relationship between people's motivation in business funding [8], [9], [10], [11], the use of platforms to business funding [12], [13], [11], and the use of crowdfunding applications in order to support funding for businesses [14], [15], [16]. Based on previous research, there is a role of funding development using the security crowdfunding model and the use of fintech in supporting business funding.…”

Section: Ircebmentioning

confidence: 99%

Design and Build the Social Security Equity Crowdfunding Application as Funding Optimization for MSMEs

Murdiono,

Siswanto

et al. 2024

KSS

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The existence of MSMEs for the economy in Indonesia is very strategic because of their contribution to gross domestic product (GDP) and high employment. In addition, the MSME sector has proven to be strong in facing national and international economic crises. Even though it has a high contribution it does not mean that MSMEs do not face problems. One of the problems faced by MSMEs is the low ability to develop their business due to limited access to capital. Therefore, this study aims to design and build a funding application (social security equity crowdfunding) for MSMEs. The design of this study uses a research and development approach with four main stages, namely (1). Carry out a preliminary study through theoretical studies and field studies in order to develop an application framework. (2) Compile applications according to the design carried out in the preliminary stage. (3) Conduct expert validation tests and limited-scale trials. (4). The final stage of this research was conducting a large-scale trial of 30 MSMEs in Tulungagung, Kediri and Blitar Regencies. Through research, a funding application is produced with a social security equity crowdfunding scheme that can assist MSMEs in developing alternative funding outside of financial institutions, so as to increase the business capacity and competitiveness of MSMEs at the national and international levels. Keywords: social security equity crowdfunding application, funding alternatives, MSMEs

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Section: Ircebmentioning

confidence: 99%

Design and Build the Social Security Equity Crowdfunding Application as Funding Optimization for MSMEs

Murdiono,

Siswanto

et al. 2024

KSS

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“…Some official zakat suppliers in the country have added the option to pay tithes online, including the ones below. A crowdfunding platform survey conducted by Wisudanto and Arifin (2017) found six crowdfunding platforms with considerable capitalization. Total funds collected from these platforms reached more than 505 billion rupiah.…”

Section: Strategy Model For Increasing Zakat Potential Through the Cr...mentioning

confidence: 99%

An Approach and Strategy for Increasing the Potential of Productive Zakat Through Sharia Crowdfunding System and Zakat Allocation to Empower Rohingya Refugees in Indonesia

Durohman,

Qesya

2024

Al-Fiddhoh

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The exodus of Rohingya refugees in Indonesia has occurred since 2009 until today. The Government of Indonesia has made various efforts to help the Rohingya refugees. Zakat funds have been allocated to fulfill the refugees' basic life requirements. This study employs a qualitative approach, utilizing a literature review to explore the role of zakat-system crowdfunding in collecting funds, explicitly concentrating on programs initiated by the National Zakat Agency (BAZNAS) for Rohingya refugees in Indonesia. Secondary data from prior research, diverse sources, journals, books, and the internet form the basis of this investigation, employing the triangulation technique to ensure data reliability. The findings underscore the vital role of zakat as humanitarian aid for Rohingya refugees, contributing to social justice, equilibrium, guarantees, and safety. However, the existing zakat distribution primarily addresses immediate needs, necessitating long-term empowerment programs for the refugees' independence. A proposed model introduces a crowdfunding zakat system, offering a more efficient and transparent approach to collecting and distributing zakat to those in need. Additionally, the study presents an Integrated Zakat and Waqf Model for Refugees (IZWMR), amalgamating institutional and individual donations into a charity pooling fund. This model prioritizes basic needs fulfillment, entrepreneurship training, and microenterprise development, with cash waqf playing a crucial role in subsidizing profit margins and invigorating refugee businesses. Ultimately, these proposed models aim to elevate the welfare of Rohingya refugees in Indonesia, not only providing immediate relief but also empowering them with the tools for self-sufficiency and independence.

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“…Easy investment platforms like crowdfunding will be increasingly needed. As investment needs grow, the chances of financing infrastructure through crowdfunding also increase (Arifin and Wisudanto, 2017).…”

Section: Opportunities and Threats Of Equity Crowdfundingmentioning

confidence: 99%

Untitled

2024

DiE

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The limited government funds necessitate the need for alternative financing for maritime infrastructure development. The purpose of this research is to explore the potential of equity crowdfunding as an alternative funding source for maritime infrastructure development. The results of this study conclude that equity crowdfunding has significant potential as an alternative financing method for maritime infrastructure. However, its current utilization is primarily for small-scale infrastructure construction or development. This is due to regulations limiting the maximum amount of funds that can be raised.

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Crowdfunding new paradigm for financing: Operational pattern of crowdfunding in Indonesia

Abstract: Assessing necessity and opportunity-based entrepreneurship: An analysis of demographic characteristics, propensity for new ventures and entrepreneurial motivation (a study of labor forces and entrepreneurs in Padang, Indonesia)

Cited by 6 publications

References 6 publications

Design and Build the Social Security Equity Crowdfunding Application as Funding Optimization for MSMEs

Design and Build the Social Security Equity Crowdfunding Application as Funding Optimization for MSMEs

An Approach and Strategy for Increasing the Potential of Productive Zakat Through Sharia Crowdfunding System and Zakat Allocation to Empower Rohingya Refugees in Indonesia

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