SUCCESSFUL ONLINE CROWDFUNDING PLATFORMS

Abstract

Crowd funding is not a new concept in India. Contributions in the form of donation have been taken to build temples, cash covers are taken at marriages and religious festivals. Crowd funding is the best option for the small and new entrepreneur. India with its huge market and human capital has become a popular destination for global business and other investments. India with a population of over 1.2 billion, expect the capital formation power of crowd funding would be taking hold in this dynamic country. Crowd funding is the fast, efficient and effective way to raise fund with low cost. It provides an opportunity to an entrepreneur to pre-sell the product and observe the users response. Among the global online crowd funding platforms crowdfunder.com encourage both donation and investment based crowd funding model. Ketto is only platforms supported to social causes by NGO where as other platforms such as Wishberry, Catapooolt, Ignite Intent and Start51 are emphasis on innovative and creative ideas. The study concludes that internet penetration and e-commerce pave the way for the success of crowd funding in future.