How Crowdfunding Sites Can Help You to Raise Money for Your Dream Project

Earlier it was very difficult to raise funds for a project that you considered as your life-long dream. If you are a person with a great talent living in some remote part of India then you might find it very difficult to get someone who is willing to sponsor or patronize you.

Your dreams are dashed just because there is no one that can facilitate your idea to make it a real success. Therefore a common man with dreams has nowhere to go. However, now things have changed dramatically.

A talented person with very little or no resource could rally a huge crowd around the cause that he or she wants to promote. Today, with the help of crowdfunding you could get enough funding for the project you had liked to do. All funding comes through internet.

Crowdfunding

For example, if you’re a film maker and wants to make a documentary about the life of people living in slums and you don’t have money to make that film then you could raise enough money through crowdfunding.

What You Need to Know about Crowdfunding

I am not going to complicate things for you. I will explain crowdfunding in simple terms so that every one of you could understand it.

If you are an individual or an organization with a cause and you need funding in order to promote that cause but you do not have resources (which is primarily money) then you could use various crowdfunding platforms (various websites) to garner support from individuals or public around the world.

In other words, you could have a project or your cause placed on crowdfunding websites asking for donations and individuals from around the world could chip-in to raise the money.

If you have a project that might cost Rs 500,000/- then you could raise this amount asking for charity on a crowdfunding websites.

So there are three groups or party involved.

1. Crowdfunding Websites – Platforms that hosts various projects created by individuals or organizations that are in need of money. The important thing to know about these crowdfunding websites is that they do take 5% to 10% as commission on the money raised.

2. Organization that wants to raise money for a cause or a project – People who are in need of money to complete their project set a desired amount of money which needs to be raised. It can be Rs 100,000 to Rs 1000,000 depending upon the project.

3. People From around the world which are going to donate money – People like you, who donate money if you are interested in a cause. There is a minimum and maximum amount for the donations set by the website. Minimum could be Rs 100 and maximum Rs 500, it depends on site to site.

Kinds of Project that are Suitable for Crowdfunding

A dream project of yours that begs funding must be of certain kind. Here in India, you cannot expect to raise money for every kind of projects.

You need to know different types of projects that could be easy for raising desired amount of money.

In India, crowdfunding could be the best way to raise money for following projects

1. Short Films and Documentaries – If you want to make short films and documentaries to raise awareness then you could crowdfund your project.

You could easily raise money up to Rs 1000,000.

2. Music Videos – If you have passion for music that is different than mainstream music then you could use crowdfund platforms to raise funds.

3. Non-Profit Projects, NGO’s – Crowdfunding is the best when it comes for charity. If you want to raise money for the education of kids living in slums or helping women then crowdfunding is the way forward. People would love to donate money.

4. Books & Publishing – If you want to write and publish books and others related stuffs then use crowdfunding to make your dream come true.

5. Start-up Companies – Finally, crowdfunding would help in generating money for start-up companies. If you have an idea but have no money to start it then crowdfunding is the future.

In conclusion, I would say creative projects like film, music, arts etc are the best for raising money through crowdfunding.

How do you Get People to Fund Your Dream Project

If you want funding for your dream project then you have to create a project on a crowdfunding website.

Here, I will give you an example of most popular website in the world to raise money through crowdfunding. And that is www.kickstarter.com an American website.

You could go there and click on start a project. You have to give every possible details of the project that you want to create.

It must show things like photos, videos and sketches. You could also create demo for explaining your project to audience.

Then you have to give an amount that you would like to raise. In Indian websites (mentioned below) or any website you have to set an amount and the timeline with a date.

You need to go to the website and read every detail before you kick start a project.

Moreover, you cannot just create a project and sit idly expecting that people would start donating money and you will raise the desired amount.

You have to reach out to the people who are ready to donate for your cause. You have to use social media especially twitter for spreading a word about your project.

You need to create pitch videos and do things even offline like giving cards, distributing pamphlets, organizing seminars etc.

Just putting a video would not do, it takes more than that.

Some of the Best Crowd-funding Websites in India and USA

Now I would like to tell you some of the Indian crowdfunding websites that are famous and gaining popularity.

1. Catapooolt – This is the best crowdfunding website present in India. If you have a project then you could use this platform to raise money.

2. Ketto – This is another crowdfunding website which is still in its infancy. You could visit the website and find out more.

3. Wishberry – Like above two websites this is also present for a while now.

You are required to go to these sites and find out more.

Some of the websites that are expected to come are Fund A Peer, Pik A Venture, the Hot Start. These are coming soon.

Now let us see some websites in USA. In reality, they dominate the crowdfunding market.

1. Kickstarter.com – This is the number one website in the world and a real trend setter. All other follow this website. It has helped in raising over $900 million for various projects.

2. Indiegogo – Like Kickstarter it is also a great platform to crowdfund your project. If you want funding for your project then you have to visit these websites.

Your Responsibility towards Your Backers

Backer is nothing but donors who will be funding your project.

You have a responsibility towards your donors because you cannot ignore them. If you do then you are not going to get funding for your future projects.

You could reward your donors with tax exemption receipts. Moreover, you could do things like

1. Loyalty points for your donors.

2. Gifts and other accessories from your project

3. Discount vouchers from lifestyle brands

4. Off Tax Benefits

You need to do this if you want to retain your donors.

Future of Crowdfunding in India

What is the future of crowdfunding in India. Well, according to me it is really great, the market is expanding rapidly.

However, the best thing about India is you could get a project started because there will always be your family and friends to donate money.

It is because of our family culture. Hence, you would see many such websites starting in India.

I will conclude by saying if you have a genuine project or an idea then you could make it happen through crowdfunding. It is because you do not have to worry about funding.

But as a caution, I must tell you just creating a project on a website is not enough as you need to promote and take it to the people.

24 COMMENTS

  1. Savelife.com is one of the Best Crowd-funding Websites in India; Savelife.com is the right platform for both individual and NGOs to create a social campaign for fundraising and donation as well. Please visit Savelife.com for more details

  2. Can u plz help me to start my own business by donating because I rally need some fund to start up business on my own

  3. hi priya,
    i think this article is very much useful to the people, who are in need.
    this is the great job done by u priya.

  4. Dear Priya,
    I am very much thankful to you, but there is some advertisement for online jobs comes always from your article is it spam, please inform me.

    Regards
    Jayraj

  5. Hi Priya,
    Certainly you are making the enthusiasts very kinetic by your articles.I do admire your concern as well as your attitude that are so creative.Best of luck……
    Mohandas

  6. HAI PRIYA

    I HAVE A SOCIAL SERVICE ORGANIZATION i.e.,
    SEEDS (SAHAARA EDUCATION & ENVIRONMENT DEVELOPMENT SOCIETY)
    I HAVE MAKING SHORT FILMS, MEDICATION, EDUCATION, HELP FOR ORPHANS etc.,
    IF ANY PERSON SHALL GIVE ME THEIR HELP TO MY ORGANIZATION PLEASE RESPOND TO MY MAIL.
    [email protected] and [email protected]

  7. Am from Bangalore and very much interested in this job so if u don’t mind can you call me to this no.7760785469 at ur most soonest pls anytime coz i have a lot of questions ok

  8. hi radhika mam,
    i want to run hospitals and scan research centre all over the world,how my dream will….

  9. Dear Ms.Priya,
    Thanks for the information. Your article is very very useful not only for me but others also.
    I registered a NGO Trust two months back to help poor people for their education, etc.
    If you have more details, can you mail me?
    I am a business man cum part time social worker from the beginning i.e. from 1972.
    K.Krishna Perumal.

    • hello mr. krishna , i am karan singh, i want to make a t.v. serial based on life, it is a comedy- emotional genre type. if there is any chance you are interested in becoming the producer or to invest in it then please let me know.
      thank you

    • Hi Karan,

      I am interested in acting will I get a chance in your serial….

      Regards
      Suman Kumar
      9884185431

  10. Its always been a pleasure to read your article,
    because all of them are so useful and innovative,
    thank you so much.

  11. Priya madam,
    Your writing clearly states without any doubt the hard work that is involved and your precious time it had consumed.
    Informative and very helpful. Keep it up. Thank you
    Regards.

  12. hii priya
    how r u
    thank you very much for u r useful details.
    expecting more from you.
    take care
    thanks bye

  13. Need money for battered women and children shelter and church~ $5 million would do?

    Pastor D
    10/14/2013

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