Crowdfunding has kicked off very well in the United States and other western countries. Platforms like Kickstarter have become a household name in these places. They fund innovative projects and various other things. However, Fundraising in India operates slightly differently. Here, crowdfunding is very much an alternative to medical insurance. Fundraising educates children and saves lives. The process of crowdfunding as you understand is an excellently flexible process. And that is the reason why it is so amazing.
What is the underlying principle of crowdfunding? The basic idea is to take from the rich and give to the poor. Except here, the rich give it of their own accord. However, this explanation can be quite simplistic. There will be people who will contribute to crowdfunding projects even though they are not well off, because they identify with the cause. And they believe that the person running the crowdfunding campaign can do something about it. Often medical crowdfunding and educational crowdfunding for the poor will elicit this kind of response.
Why exactly does crowdfunding elicit a response like this? Part of the reason is that Fundraising is a very low-risk process. The campaigner can start a fundraiser for free and does not have to always meet the target. A cut is taken by the crowdfunding platform. The campaigner does not have much to lose, financially. However, why will the contributor pay any money for something that does not concern them? Part of the reason is because they do not need to pay a lot of money. A small contribution can help them be a part of someone’s recovery process or a child’s education. This process is extremely rewarding. From this we can say that crowdfunding is a highly functional process.
To engage in crowdfunding here, you need to visit a crowdfunding platform like Impact Guru. Here, on their website (https://www.impactguru.com/) you can find various crowdfunding ventures. If you want to be a contributor, you can go and pay money to one of these. If you are a campaigner, all you need to do is to start a fundraiser. A fundraiser just takes a few minutes to start. There are no fees involved. Once you have started this, a campaign manager from the company will get in touch with you.
They will help you set the target and figure out strategies. Point is; this campaign manager will help you figure out strategies. If you cannot meet your goal, there are no penalties. A certain percentage of the collection will be taken from you but there is no pressure on you to meet the target. As you can understand, crowdfunding in India is a very low risk mode of fundraising to opt for at a time when you need large funds at short notice. It is really, simply, the best!