Crowdfunding for Academic Projects: A Case in Public Universities of Malaysia

  • K. L. Lau
  • B. C. Chew
  • A. Maliki
  • H. Hafizuddin

Abstract


This paper analyzed the academic crowdfunding initiatives of public universities in Malaysia. It investigated the effectiveness of academic crowdfunding initiative, focusing on two important issues namely the most critical hurdle that might challenge the crowdfunding initiative, and an overview of the crowdfunding model which could be the strategy to support the academic research funding. A case study of qualitative research method, including semi-structured interview sessions were conducted. The finding yielded that there were five potential challenges and the fraud in crowdfunding was the most critical challenge.  Besides, the most suitable crowdfunding model for researchers from public universities of Malaysia was the donation crowdfunding for this model does not include the claim of ownership and it is more suitable for the public universities in Malaysia. This study provides guidelines to academic researchers in the implementation of crowdfunding for their research project and some innovative suggestions to creating the successful crowdfunding campaigns.

Downloads

Download data is not yet available.

References

B. R. Clark, “The Research-teaching Nexus in Modern Systems of Higher Education”. High Education Policy, vol. 7, no. 1, pp. 11-17, 1994.

D. Berry, Gaining Funding for Research: A Guide for Academics and Institutions. England: McGraw-Hill Education, 2010.

M. Wicks, Crowd Funding: An Introduction. Victoria: Blue Beetle Books Publication, 2013.

J. Howe, “The Rise of Crowdsourcing”. Wired Magazine, vol. 14, no. 6, pp. 1-4, 2006.

L. Collins and Y. Pierrakis, The Venture Crowd – Crowdfunding Equity Investment into Business. London, 2012

E. Mollick, “The Dynamics of Crowdfunding: An Exploratory Study” Journal of Business Venturing, vol. 29, no. 1, pp. 1-16, 2014.

G. Burtch, A. Ghose and S. Wattal, “An Empirical Examination of the Antecedents and Consequences of Investment Patterns in Crowd-Funded Markets” Information Systems Research, vol. 24, no. 3, pp. 499-519, 2013.

K.J.M. Voorbraak, Crowdfunding for Financing New Ventures: Consequences of the Financial Model on Operational Decisions. Eindhoven: University of Technology, 2011.

E. Burkett, “A Crowdfunding Exemption? Online Investment Crowdfunding and U.S. Securities Regulation” The Tennessee Journal of Business Law, vol. 13, pp. 63-106, 2011.

K. De Buysere, O. Gajda, R. Kleverlaan, D. Marom and M. Klaes (2015). A Framework for European Crowdfunding [Online]. Available at: www. europecrowdfunding. org/european_ crowdfunding_framework, 61.

P. Povel, R. Singh and A. Winton, “Booms, Busts and Fraud” The Review of Financial Studies, vol. 20, no. 4, 2007.

S. R. Dobrow, D. E. Chandler, W. M. Murphy and K. E. Kram. “A Review of Development Networks: Incorporating a Mutuality Perspective”, Journal of Management, vol. 38, no. 1, 2011.

A. Guizot. The Hedge Fund Compliance and Risk Management Guide. New Jersey: John Wiley & Sons Inc, 2007.

Canada Media Fund (2015). Crowdfunding Definition and Model [Online]. Available at: http://crowdfunding.cmf-fmc.ca/facts_and_stats/crowdfunding-models.

D. Mitra, “The Role of Crowdfunding in Entrepreneurial Finance”, Delhi Business Review, vol. 13, no. 2, 2012.

K. Eisenhardt and M. Graebner, “Theory Building from Cases: Opportunities and Challenges”Academy of Management Journal, vol. 50, no. 1, pp. 25-32, 2007.

Perbadanan Harta Intelek Malaysia (2016). Patent Act 1983 [Online]. Available at: http://www.myipo.gov.my/wp-content/uploads/2016/09/PATENT-ACT-1983-ACT-291.pdf.

B. Mundial, Crowdfunding’s Potential for the Developing World. Washington DC: World Bank, 2013.

European Commision (2014), Communication from the Commission to the European Parliament, the Council, The European Economic and Social Committee and The Committee of The Regions. Unleashing the potential of Crowdfunding in the European Union [Online]. Available at: http://ec.europa.eu/internal_market/finances/docs/crowdfunding/140327-communication_en.pdf.

How to Cite
Lau, K. L., Chew, B. C., Maliki, A., & Hafizuddin, H. (1). Crowdfunding for Academic Projects: A Case in Public Universities of Malaysia. Journal of Advanced Manufacturing Technology (JAMT), 12(1(1), 273-284. Retrieved from https://jamt.utem.edu.my/jamt/article/view/3941
Issue
Vol 12 No 1(1) (2018)
Section
Articles

Authors who publish with this journal agree to the following terms:

  1. Authors transfer copyright to the publisher as part of a journal publishing agreement with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) after the manuscript is accepted, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).