IIUMINKIND PROJECT BUSINESS MODEL

CROWDFUNDING FOR ENHANCING THE WELLBEING OF B40 COMMUNITIES AND NURTURING B40-PRENEURS

Abstract

This conceptual paper outlines an approach for increasing community well-being by adapting the crowfunding IIUMinKind project business model offered, aiming to tackle a wide array of societal issues such as poverty, homelessness, mental health, and addressing the special needs of the low income B40 population. With an eye towards enhancing various facets of the society, such as unemployed, community centres & network of mosques, the disabled, single mothers, and orphanages, the approach seeks to collect public funds and redistribute them to these establishments, ensuring transparency and impactful outcomes in donation utilization. Additionally, the approach aims to empower individuals in these needy communities by providing opportunities for reskilling and upskilling, thereby fostering entrepreneurship, jobs and wealth creation, and economic growth. Reaching out to and engaging underprivileged or isolated individuals and groups, who frequently face unstable finances, limited access to quality medical care, difficulty finding steady work, housing insecurity, and limited resources for education and skill development, are among the challenges of this endeavor. The effort, which encourages accountability, transparency, and impactful outcomes in fund usage, seeks to meet societal demands and getting community support. Thus, creating social cohesion and economic growth  towards the betterment of human life and civilisation.  This paper seeks to lay a solid basis for long-term outcomes and impacts by leveraging on business modelling tools like the Value Proposition Design Canvas (VPC), Business Model Canvas (BMC), and Business Environmental Map (EM). Surveys are used to collect data on situations, understanding, and knowledge, allowing for ongoing modification of the model to suit the changing needs of stakeholders. Hence, this paper offers the IIUMinKind project business model aims to pave the way towards the betterment of B40 quality of life by leveraging on trusted digital platforms for fund/donation collection and distribution in supporting impactful societal initiatives.