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Muslim entrepreneurs face various obstacles when starting their business, especially in gaining access to financing. Some financing practices have some Sharia violations, so this paper tries to explore the opportunities and challenges of one financing alternative for Muslim entrepreneurship development in Indonesia that fully complies with Sharia principles. This paper aims to further understand the concept of venture capital and how it relates to Islamic teachings, and the paper ends with the suggestion for future research direction.

This study uses qualitative methods with descriptive and exploratory analysis. A case study approach using semi-structured in-depth interviews with several key informants were conducted to identify the opportunities and challenges for Muslim entrepreneurs in gaining access to Islamic financing. Various literary syntheses are also provided to better understand alternative financing for business development of Muslim entrepreneurs.

Muslim entrepreneurship, depending on their goals and needs in obtaining financing, uses different models in the process of agreements with capital-funding institutions based on Sharia principles. Sharia venture capital is one alternative financing that gives freedom for Muslim entrepreneurs to develop their business based on the Islamic system, without thinking about the requirements that must be met in obtaining access to the financing. However, it seems that this scheme still has relatively low interest, especially from Muslim entrepreneurs because they do not know the information and procedures of Sharia venture capital.

Some policy implications include increasing capital from Sharia venture capital institutions, the role of the government in providing adequate policy support and incentives and broader socialization and education about the existence and importance of developing Sharia venture capital. Practical implications include useful information for Muslim entrepreneurs to address financing issues in their entrepreneurial activities and suggest insights for future research.

This study provides the link of financial access for Muslim entrepreneurs to Sharia venture capital as a new financing business innovation. Thus, it contributes to the literature on Sharia venture capital and Muslim entrepreneurship. The authors also propose some useful recommendations for further research in this field.

The purpose of this paper is to propose a financial instrument by combining two main contracts in Islamic finance with the aim to minimize risks involved in Islamic venture capital (IVC) activities.

A mathematical model and explanatory figures are provided to see how IVC firms can benefit from the combination of “Ijara” contract and “Diminishing Musharaka” contract to provide financing for start-up and high-tech companies.

The proposed instrument could be considered as an alternative solution for IVC firms. It represents a low level of risk with a stable income in the beginning of the project. In addition, it allows benefiting from the possible development of start-up and high-tech companies with a smooth exit from the capital of the financed company without the intervention of another investor. It is also considered as a motivational instrument for the entrepreneurs, because it allows benefiting from a grace period on the one hand and from a lower cost of financing compared to other type of funding on the other hand.

Some studies have concentrated on identifying and understanding the concept, the operation and the challenges of IVC industry. The study is considered among few studies that provide a practical model for IVC firms, which takes account of the different stages of venture capital process. The instrument can promote the development of IVC firms and give alternative financing opportunities to Muslim entrepreneurs.

The current model provides a truly revolutionary solution for young Muslim entrepreneurs who do not accept to be financed by the proposed instruments of venture capital (VC) firms such as convertible bonds and warrants. On the other side, it provides an alternative solution for IVC firms to the already offered products such as “Musharaka”, “Mudharaba” and “Wakalah” contracts. An expert in “Fiqh Al-Muamalat” (Islamic law of transaction) assessed the Sharia compliance of the model.

Limited access to capital is a classic issue in and a burden to micro, small and medium enterprises (MSMEs) in Indonesia. The existence of the problem with information asymmetry and agency conflicts that are predominant at the level of small businesses, increasingly hampers the opportunity to obtain funds from various external sources. Especially for businesses that are at the pioneering stage, entrepreneurs are required to think creatively, have the courage to take risks, and be independent in fulfilling resources to realize business opportunities. The availability of funds certainly has an impact on business performance, either directly or indirectly. Based on a literature review, business performance is categorized into financial and non-financial dimensions with various measurement proxies. However, some of the models and measurements proposed are not always suitable in assessing the performance of MSMEs, especially in the startup phase. Therefore, this chapter concurrently describes the funding patterns and the funding alternatives to measure the performance of new businesses based on the existing literature. Theoretically, this research adds a perspective in the field of entrepreneurial finance regarding funding patterns that can be implemented by startup businesses in Indonesia and provides a proposal for measuring the concept of performance that is more adaptive and comprehensive for businesses in the startup stage. The implication of this research for entrepreneurs leads to the need to adjust funding decisions according to the changing stages of the business lifecycle and to expand the funding window to support the sustainability of small businesses.

The purpose of this study is to investigate the relationship between technology and efficiency and effectiveness in the performance of family business halal supply chains.

Methodology used in this research is a quantitative method. The research's type is explanatory research with multivariate data analysis methods using partial least square (PLS). Samples used in this research are 100 family halal food businesses in Indonesia.

The result shows that there is a positive and significant relationship between each technology and effectiveness. Technology can be used to ensure that all supply chain processes follow Sharia procedures effectively in the family halal food business, but on other hand the technology does not show a positive effect on family halal food business efficiency.

Further research can be done by applying the model provided in this study for other industries. And investigating the model in a big company to prove the technology may also show a positive relationship to the efficiency.

The contribution of this research is that the family halal food business can guarantee that technology they use can improve the effectiveness of their supply chain.

The improvement of halal supply chain effectiveness through the technology can improve the product's quality and fulfill the customers' requirements. Also, the family business can assure the society about their halal product.

This research proves that the family business can improve their halal supply chain effectiveness through technology, although lowering their efficiency, which is empirically proven.

This paper aims to investigate the underlying dynamics of crowdfunding networks. The study examines the impact of actors’ connections, i.e. entrepreneurs’ ties and connections between crowdfunders, on funding success, i.e. the funding amount collected at the end of crowdfunding campaigns. Furthermore, this research explore the role of communities within crowdfunding platforms.

The study leverages the network theory and uses a quantitative methodology based on a regression analysis (ordinary least squares). Data collection was done through Ulule, a leading crowdfunding platform in Europe.

The research provides a description of the structure of crowdfunding networks and their communities. The results show that actors’ connections play a key role in affecting the funding success. Both the entrepreneurs’ ties, i.e. the connections of the entrepreneur before the launch of the campaign and the connections between crowdfunders, i.e. the ties established within crowdfunding communities (redundancy and effective size), positively affect the funding amount collected at the end of the campaign.

This paper has useful implications for several stakeholders such as entrepreneurs, platform managers, communities’ managers, policy makers and authorities. Entrepreneurs should expand and strengthen their ties before the launch of the online call, while managers of platforms/communities should stimulate connections between actors, in particular between crowdfunders within communities, and improve the online spaces of campaigns with new dedicated sections or specific forums. Policy makers and authorities should design specific policies, favor the rise of new types of entrepreneurship (e.g. community spin-off) and support the development of new tools and communities.

This is one of the first empirical studies that explore the underlying dynamics of crowdfunding networks. Results revealed by the analysis might steer other scholars’ interest towards this research path. The connections between crowdfunders within the communities have been neglected so far. This research proposes an original network approach based on typical network parameters. The study sheds some light on the importance of actors’ connections and adds new knowledge in a recent research stream that is still in its infancy.

The purpose of this paper is to provide a picture on the impact of the meritocracy and personality traits on the recruitment process in small and medium-sized enterprises (SMEs) in the State of Qatar.

The study used ADANCO software for carrying a structural equation modelling analysis and for descriptive statistics.

The findings showed that meritocracy and personality traits had an impact on recruitment process. In addition, meritocracy showed to be more important than personality traits in the recruitment process.

This research is conducted only in one country, i.e. the State of Qatar, and findings cannot be generalised for other countries in the Gulf Cooperation Council and abroad. Extending this research in other countries and comparing the findings will help create a better portray on the role of meritocracy and personality traits on the recruitment process.

This paper will help the Qatari and other SMEs owners to use a more comprehensive approach during the recruitment of their employees, considering that the process of recruitment plays an important role within the overall human resource management. Recruiting the right people has become an extremely daunting mission for SMEs, given that competition for talent is increasingly becoming a very tough and uncompromising issue.

To the best of the author’s knowledge, this is the only paper that has researched the role of meritocracy and personality traits on the recruitment process in the SMEs in the State of Qatar and abroad. Separate studies were conducted that treat the impact of meritocracy and personality on recruiting the right person(s) for the company, but none treated these aspects together in one single paper.

The role of spirituality in entrepreneurship is a new area of inquiry that has emerged from different scholarly fields. There is no specific way to study spirituality as it rather depends on the context and influence of religious beliefs. This paper aims to study the integration of spirituality in the entrepreneurial journeys of individual entrepreneurs in Pakistan. Thereby focusing on the factors that set reassurance for entrepreneurs to practice their spiritual beliefs in an emerging market context.

Using a qualitative research approach and data from entrepreneurs in different businesses, this study examines how entrepreneurs reach the point where they are willing to run their businesses based on their spiritual beliefs. The data analysis technique used to study the entrepreneurs is the Gioia method of analysis, which enables key themes to emerge.

This study finds that the process through which Pakistani entrepreneurs run their businesses based on spiritual beliefs within their mission and goals can be considered as discerning spiritual beliefs, affirmation of spiritual beliefs and materializing beliefs into action. Each of these spiritual beliefs has been accumulated through lifelong learning and experience in which trust in business relationships is highlighted.

The insights of this study can be applied to different entrepreneurial ventures to create a framework of entrepreneurial businesses that incorporate spirituality within their mission and vision statements. It can then be used to design education and training activities for other spiritual entrepreneurs to enable further entrepreneurial development in different communities.

Spirituality can alter the entrepreneurial nature of a business. This means that entrepreneurs who possess high spiritual beliefs can incorporate their spirituality within specific business functions to enable a more positive outcome. This study stands as the first in Pakistan to consider the ways entrepreneurs incorporate their spiritual beliefs in their entrepreneurial journey.

This paper aims to provide an understanding of agripreneurs motivation from the Islamic perspective. The objective of this paper is to explore the proposition that motivations to become agripreneurs is directly influenced by religious intentions and Islamic values, which would indirectly have an effect on entrepreneurial behaviour.

An exploratory qualitative approach was used to capture the respondents’ Islamic values and intentions, which motivate them to become agripreneurs. In-depth face-to-face interviewing technique was adopted whereby the respondents were asked to share their thoughts, views and understanding of the issues presented. A sample of five Muslim agripreneurs were interviewed for this study.

The study found that Islam plays a significant role in influencing the agripreneurs entrepreneurial motivation. Their entrepreneurial behaviour is also underpinned by some Islamic values, which have a positive impact on their mindsets and the growth of their businesses; such as having utmost faith in Allah (taqwa) and believing that Allah is the sole provider, makes them fearless in the business environment and results in a healthy competition amongst agripreneurs.

The study has several limitations. Firstly, the study is based on a small sample of five Muslim agripreneurs who are willing to be interviewed in a specific Islamic environment such as Brunei. Thus, the findings cannot be generalised and may not be a true reflection of all Islamic countries and to Muslims residing in countries in which they are not the majority. Secondly, cultural differences within a country may influence the attitude towards entrepreneurship and entrepreneurship intentions. As this study focusses on Brunei, which is based on Malay Islamic Monarchy, the motivations might be different in other countries because of the cultural differences. Thirdly, agriculture types in this study are limited. Finally, the methodology is purely qualitative.

The findings may assist the government to devise strategies and policies to attract more youth into agriculture particularly in creating a supportive environment for the farmers.

The findings of this paper have shown that their Islamic motivations and values result in a more socially responsible entrepreneur in shaping the economy and community at large and more importantly, it also brings them closer to Allah.

This paper highlights the role of Islam in influencing and motivating the respondents to become agripreneurs and persevere in the challenging business environment.

The purpose of this paper is to examine the institutionalization of screening and metrics in conventional finance and reflect upon the implications for Islamic finance.

The study involves the analysis of archival data, interviews and fieldwork with current impact investors in North America and the European Union to trace the historical development of impact investing screening and metrics.

First, the paper explores how conventional investors have applied positive and negative screens in the creation of their values/mission-based investment strategies. This is followed by a historical analysis of the development and implementation of impact metrics and regulatory frameworks that influenced the growth of conventional impact investing. The possible benefits of learning from these experiences for the Islamic finance industry are then considered. The paper concludes with an analysis of the potential value of mission/values-based investing for the economic development of the Middle East and North Africa region.

Though not a comprehensive study of institutionalization, this study supports recent calls for more intentional use of capital for blended returns within Islamic markets. To support these initiatives, it provides scholars and practitioners with multiple recommended points of entry into this growing market.

There has been scant organizational research examining the development of best practices within the impact investment community and how these might be applied to other contexts such as Islamic finance.

This paper aims to examine the extent to which these reforms address the limitations of Saudi Arabia’s previous investment framework. Long viewed as a hostile environment in which to do business, the Saudi Government has enacted a broad sweep of measures aimed at restoring investor confidence in central aspects of the country’s evolving private law framework.

This paper offers a timely assessment of the raft of foreign investment reforms, both legislative and regulatory, that have been introduced in Saudi Arabia over the last decade.

The paper will proceed by outlining the perceived failings of the old investment regime before going on to reforms.

It will consider the remaining obstacles to the flow of foreign investment in Saudi Arabia in the context of the dual forces that have historically defined the Kingdom’s ambivalent investment law regime.