Crowdfunding, which started in India a few years ago -- a process in which people seek funds in small amounts for their start-ups and projects from a large number of individuals -- is fast becoming an instrument for social change.
Majority of the fundraisers on crowdfunding platforms such as Milaap, Ketto and BitGiving relate to social causes ranging from community development to welfare of solders, animals, elderly, acid attack victims, etc.
The success rate of these campaigns, according to these online crowdfunding platforms, is as high as 70%. The amount raised by individuals and organisations for a cause range from Rs 1 lakh to over Rs 1 crore.
Manoj Sharma in his excellent piece in Hindustan Times gives a number of examples as to how individuals have been helped in the process. Read more ......
