What if I tell you, “You don’t need money to start a business?” Hoi! What? Starting a business without money! Then, what you have to do to start your dream project, without having money? Money without Business or Business without Money, it sounds like a Rajnikanth movie without a Punchline. It’s not possible right? Then go vice versa, “Start a business and then source for fund”. Is this sounding good? But, how? Project Lucia We come across with this movie name Lucia in recent times in media not only for its quality content but also for its quality of production. Young Kannada director Pawan Kumar who is passionate about doing film approached many producers with his story Lifeu Ishtene, Later renamed as Lucia – a psychological thriller script. After frequent rejections from many producers, blaming no one he decided to start the project on his own. He published his story in internet and various social platforms and requested people to fund his new film and named it as Project Lucia. Stop. Isn’t it sounding crazy? Will you give your money to someone for making film? Yes, he got the funding from various sources around the world and it makes a sensation in the Indian film industry. He makes the investors to believe that he will give a good movie by not only revealing his story but how he is going to make it. “Lucia is notable for its use of crowd funding technique. It was funded by 110 investors who contributed to the project through a Facebook page and a blog run by director-actor Pawan Kumar”. [Source: Wikipedia] He honoured the investors by calling it The Film produced by the audience and the end credits too. Watch the trailer here. Process Crowd funding is the practice of funding a project or venture by raising monetary contributions from a large number of people, typically via the internet. Crowdfunding connects investors with small business startups and projects through an online transaction portal that removes barriers to entry. Bizzare India has seen a massive crowdfunding success story many years before the term was coined: the story of the Reliance Industries founder Dhirubhai Ambani. His small yet growing textile business was crowdfunded by communities across the Indian state of Gujarat. Source: Yourstory.com Today’s India with its huge market and human capital has become a popular destination for global business and other investments that have identified opportunities. Its crowd funding however has been restricted to micro financing category projects, and the occasional donation-reward funding category. Models Donation model – In this model, individuals make a financial contribution to a project without any expectations of financial benefits. Lending model – In this, the investor will loan money to the project with the expectation of being repaid under the terms and conditions agreed. Investment model – The investor receives an equity stake in the project. So, what’s stopping you? In this world of opportunities we can cross the barriers Physically, Mentally and Financially. Don’t sit with your idea. Bring it out to the world and transform yourself from Ideapreneur to Entrepreneur. Come, let’s go Crowd Funding ! Some websites in India where you can go for Crowd Funding are listed below. Please see the interesting projects that got Crowd Funding.
Please check these websites for its authenticity & policy.
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November 2016
AuthorVignesh Viswanathan. |