Islamic Equity-Based Crowdfunding For Saudi Entrepreneurs

Crowdfunding consists on collecting small amounts from a large number of individuals through an open call of fundraising launched in crowdfunding platforms via Internet. Despite the popularity of this phenomenon, it seems that has not attracted the interest of researchers to study the factors of its adoption either by entrepreneurs or by investors. As a way to diversify its non-oil economy, Saudi Arabia launched a prospective initiative called Vision 2030 to boost the entrepreneurial activity as a wealth creation engine. Given its strategic geographic position at the crossroads of important international trade routes, between three continents: Asia, Europe and Africa, Saudi Arabia has predominant entrepreneurial assets to access to the Arabian Peninsula and East Africa, as well as the Asia-Europe trade route. Thanks to the existing infrastructure and all mechanisms already in place to improve entrepreneurship in Saudi Arabia, we strongly believe that crowdfunding technology presents the right empowerment to entrepreneurship by offering innovative funding tools to novice Saudi entrepreneurs.