TY  - JOUR
AB  - 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.
VL  - 11
IS  - 5
SN  - 1759-0833
DO  - 10.1108/JIMA-02-2019-0022
UR  - https://doi.org/10.1108/JIMA-02-2019-0022
AU  - Hendratmi Achsania
AU  - Ryandono Muhamad Nafik Hadi
AU  - Sukmaningrum Puji Sucia
PY  - 2019
Y1  - 2019/01/01
TI  - Developing Islamic crowdfunding website platform for startup companies in Indonesia
T2  - Journal of Islamic Marketing
PB  - Emerald Publishing Limited
SP  - 1041
EP  - 1053
Y2  - 2024/04/23
ER  -