Fajar Hutomo, Deputy Director, Access to Finance, Creative Economy Agency
Crowdfunding is a Solution to Financing

Crowdfundingfinancing a project or a business by raising money from the publicis a relatively new trend in Indonesia. According to Fajar Hutomo, Deputy Director of Access to Finance at the Creative Economy Agency, it has only become popular five years ago. But actually, Indonesia is familiar to koperasi (cooperatives), a collective system of funding. "That's the original Indonesian crowdfunding," said Fajar.

Crowdfunding is a project-based systemnot a long term financing institution. Nevertheless, its effectiveness has been proven through the use of local websites such as kitabisa.com or wujudkan.com, that have successfully financed various charities, startup businesses, as well as social entrepreneurship.

September 29, 2015