Using Digital Platforms for Effective Crowdfunding

July 05, 2017 12:00 AM
  • Using Digital Platforms for Effective Crowdfunding
The use of technological solutions to tackle social problems in India is growing exponentially. Such technological solutions essentially include ideation, marketing, storytelling and the use of digital platforms as a medium to implement a strategy. These are, however, considered the initial steps. As monetary sourcing of the projects for Nonprofits is a big hurdle most of the times, ideas are trashed before they can be implemented.
India is densely populated with over 1.2 billion people. Of this, one-fourth of the population forms the middle-class that willingly renders its support for the right causes. According to Varun Seth, founder of Ketto, a crowdfunding platform, a majority of its donors are middle-class people from metros such as Delhi, Mumbai, Bangalore, and Kolkata.
Nonprofits can harness the use of such crowdfunding websites to tap into this demographic for funding their social projects. Organizing campaigns online and making it accessible for people to witness and contribute, helps people to support the cause from any corner of the country.
According to the survey done by NGO Online Technology Report ( 2017), on a global scale, 71% of NGOs agree that social media is effective for online crowdfunding. Many platforms are available today in India to Nonprofits that gives them various advantages. For instance, ImpactGuru renders Instant 80G tax exemption receipt for NGO donors, US/UK Tax Benefits to US/UK donors, Daily/Weekly Access to Funds, one-on-one training, dedicated Fundraiser Managers, PR support, online transaction failure monitoring and other benefits. Milaap, Wishberry, and Ketto are similar platforms that help the NGOs, based on the needs of each.
One of the success stories in India, a campaign “Light Up the lives of Artisans of Rural Odisha” raised 7.6 lakhs with the help of 401 supporters across India. Villagers of Gotiguda, Odisha were facing a critical situation due to the lack of electricity and lighting as they depended on Dokhra metal crafts for their livelihood.The funds raised through this campaign are currently being used to set-up a solar micro-grid, that provides lights and supply a polishing machine.
The main purpose of a crowdfunding platform is to function as a catalyst in transforming an idea into reality. Truth be told, money is the major hurdle in the shaping up of any Nonprofit organization. Getting corporate funds is a rigorous task to start with. Like the old saying - 'sticks in a bundle are unbreakable', many small contributions from people across India will go a long way in positively impacting the society. Crowdfunding is also a great way to sensitize people about different social causes as it promotes a social mindset.
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