Title:
THE INNOVATION DEVELOPMENT OF COMPETITIVENESS AMONG VILLAGEOWNED ENTERPRISES AGENCY (VOEA) IN THE PROVINCE OF WEST JAVA, INDONESIA

Authors:
Ahmad Hermanto, Bambang Purwoko, Sri Widyastuti and Widharto Rachbini, Indonesia

Abstract:
The objective of this study is to examine the level of competitiveness exhibited by the Village Owned Enterprise Agency (VOEA) in the province of West Java, located in Indonesia. The current state of affairs is hindered by the intricate nature of the issues at hand and the deficiencies of the VOEA that are presently underway. In West Java, for instance, a significant portion of the 2,921-unit VOEA, specifically 85%, are inoperative. Similarly, in Indonesia as a whole, out of the total 45,549-unit VOEAs established, only 30% remain functional due to their inability to effectively compete. Hence, the purpose of this study is to construct a model for enhancing the competitive innovation of the Village Owned Enterprise Agency (VOEA) in the province of West Java, as well as in Indonesia as a whole. The results of this study demonstrate that equity crowdfunding serves as a potent mechanism for promoting alternative financing and facilitating new avenues of financial access for VOEA. Moreover, it acts as a catalyst for entrepreneurship and innovation, fostering sustained competitiveness in the execution of VOEA business operations in the region of West Java, Indonesia.