Crowdfunding is the practice of funding a project/venture by raising contributions from groups of people, via Internet. Crowdfunding can be used for various projects like charity, service, investing, cause or product.
Crowdfunding is done by three types of actors: the project initiator who proposes the idea and/or project to be funded; individuals or groups who support the idea; and a moderating organization that brings the parties together to launch the idea. This help startup’s or organisation to get funds and make that idea into reality, and make them confidence to face challenges.
- Reward based crowdfunding:
Entrepreneurs pre-sell a product or service to launch a business concept without incurring debt or sacrificing equity/shares.
- Equity-based crowdfunding:
The backer receives unlisted shares of a company, usually in its early stages, in exchange for the money pledged. The company’s success is determined by how successfully it can demonstrate its viability.
Let’s check out five best crowdfunding websites based in India and fuel your creative ideas and get supported via community:
BitGiving is closely integrated with social media. Successful crowdfunding is all about reaching out to people easily. Giving is contagious and BitGiving makes this contagious behavior a little easier with its inherent virality. Whether you are an individual or organisation looking to raise funds for an initiative you are working on, BitGiving is the platform for you. Put up your projects, explain your vision and why you need funds, invite your friends and share your campaign on social networks, and then let the virality take it forward!
Wishberry is a new risk-free way to give your creative and innovative ideas a shot. It draws on the power of communities in backing your ideas. Not for financial return and definitely not for charity. But to be a part of a community that brings your ideas to life. Ideas in the following areas can raise funds on Wishberry – ARTS, FILM, MUSIC, THEATRE, PUBLISHING, TECHNOLOGY, APPS, DESIGN & GAMING.
3). The Hot Start
The Hot Start provides a platform through which Community Members can become ‘Evangelists’ of projects (posted by ‘Project creators’ or ‘Creators’ or ‘Innovators’) by funding them, or contributing their time or skills. The Project creators offer unique rewards in exchange for this support. In addition, the platform also provides you with an opportunity to build a community around your project, promoting it on the platform and on linked social media sites, to your friends, family and Evangelists.
Start51 offer new creative fund platform to transform unique ideas into reality. The crowd-funding platform runs with an aim of offering direct financial support from contributors. This is an initiative to support projects from all industry verticals that meet our project guidelines. It is a platform and a resource that follows all-or-nothing funding policy, in which projects must reach their funding goals to receive any financial aid. Providing a new way to crowd-fund projects, the organization adds life to creative projects and ideas.
5). Ignite intent
IGNITE INTENT went serious with the idea of crowdfunding in April’12. Today we are India’s crowd funding platform for creative, innovative and brave ideas. As a country of over one billion population is undergoing a social revolution we felt the need to create a portal which shall be a platform for the new generation which is brimming with ideas & hope. A portal where individuals can showcase their talents and show the world what they believe in and thereby GET FUNDED!