Delphi Technique with Three Round Modification for Item Development for Sustainable Funding Initiatives and Entrepreneurial Intention for Startup Social Enterprises in Malaysia

Abstract

The socio-economic disparities and limited development opportunities prevalent in the East Coast region of Malaysia have spurred the emergence of start-up social enterprises striving to rejuvenate the economy. These social enterprises prioritize a balanced approach to socio-economic success, but face challenges in securing sustainable funding from various sources. While previous studies have explored the association between social entrepreneurs and their mission to address social problems, there has been limited focus on developing a sustainable funding model specifically tailored for social enterprise startups targeting the Bottom 40 (USP B40) population, particularly in the East Coast region of Malaysia. This paper aims to examine the development of sustainable funding initiatives that can support the social mission of USP B40 in Malaysia. The study integrates relevant theories and models to propose a conceptual model, and employs the Delphi method with three modification techniques to construct a questionnaire. The responses from a panel of experts are analyzed using quartile deviation (QD) and inter-quartile range (IQR) to establish consensus levels. Statistical analysis using the Statistical Software Package for Social Science (SPSS) version 26 demonstrates that the instrument meets the criteria for validity and reliability. This paper contributes by providing a set of objective and practical items to measure the effectiveness of sustainable funding model initiatives for USP B40.