5 reasons why India needs crowdfunding

Crowdfunding is a way of raising money by asking a large number of people each for a small amount of money. Until recently, financing a business, project or venture involved asking a few people for large sums of money. Here is why India needs crowdfunding:

 

  1. Poverty

India is infamous for its poverty. Most of us also acknowledge the wide gap between the rich and the poor in the country. Poverty also limits the opportunities available and accessible to the youngsters from low income families, stopping them from dreaming of and achieving big success. Anybody who knows India well enough would know that the country has many people who would like to contribute towards solving this problem within their limited means. A crowdfunding platform where we have campaigns which are easily accessible and usable for anybody may not be able to alleviate poverty, but it sure can help by connecting those in dire need of financial help to those who can chip in with some help.

 

  1. Providing the right opportunity and patrons to talented artists

India is a diverse country with people from different backgrounds and culture. All across the country, one can find innately talented people who have not been able to find the patronage required to showcase their talent on a platform where they can meet several potential patrons. Through crowdfunding, all of us can become the missing backers to such artists, musicians, filmmakers and other creative people.

 

  1. Bringing your dream ventures to life

Despite all the ease of business brought in by the government, bringing in the most important resource for a venture – capital – still remains a daunting task. It no longer seems quite as intimidating a resource we seek small amounts from multiple backers instead of a very high amount from one source, which is essentially what crowdfunding is all about. It doesn’t just save our time but also motivates us to work harder for cause and get more money. It is also a great way to get your ideas validated by the people it is meant to serve.

 

  1. Bringing in support for social enterprises and innovations

With more youngsters becoming socially conscious, they have ideas that solve social problems. Sometimes, they make a career out of this solution. Most of these youngsters don’t have the necessary funds to turn their ideas despite the changes they could bring about in the society. At times, they don’t even have the necessary credentials to take a loan from a bank or provide them a guarantee. This is where crowdfunding comes in to the rescue! It doesn’t require all the hassles that a loan does, and comes with a lower financial risk.

 

  1. To mobilise more help for the non government organisations

Non government organisations or NGOs play a very important role in the development of the society. With a country the size of India that has such a huge population and the limited resources in hand, the government alone can not reach or solve every problem being faced by the citizens. What we do have is a few citizens who have decided to dedicate their time and energy to solve these problems along side the government agencies. Crowdfunding is a way to enable those who can not contribute their time to contribute to these citizen-driven efforts monetarily.

 

We espouse all of these causes in our campaigns at Crowdera.

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