Parallel to the conventional economy, another economy grows in our world today, transacting huge amounts of money every day. This is the web economy where millions are people are doing business in ways never thought of before. The internet has brought people closer and as a result it is easier now to invest in a project unraveling in a third world country sitting from the first world. Similarly, it is easier to access foreign donations for people engaging in crowdfunding India precisely because of the internet.
There are many ways in which crowdfunding can be done over the internet and hundreds of crowdfunding websites have proliferated because of this. However, the major players in the field remain a handful. In India, donations based crowdfunding is fairly popular among people willing to fund campaigns. However, more and more people are moving towards equity based crowdfunding and microlending. This trend has been good news to businesswomen. Women have a lot of difficulty accessing funds for their own business. Banks refuse them loans on the weirdest of grounds, they have access to limited funding and usually are victims of sexism in the business world. However, crowdfunding India has made it possible for these women to connect with the larger community of businesswomen outside the country. These women might be successful and have a lot of advice to give to female entrepreneurs who are just starting out. Crowdfunding sites are a fine way to bring so many women together. Effectively, they build a community and support group of people with the same interests, here, women in business.
If you are a woman and have a great business idea which is all worked out in theory, you can start a crowdfunding campaign on website. Since sexism is likely to play into the minds of many investors if you choose equity crowdfunding, you can also use the donations based crowdfunding model. In this model, you will not have to answer to anybody as there will be no shareholders.
Crowdfunding websites India are a mix of both equity and donations and rewards models. However, there are many success stories of women building successful businesses after taking to crowdfunding. For example, Anisha Singh used crowdfunding to establish the now well known mydala. Nykaa too, raised a whopping 9.5 million from investors recently. Falguni Nayar has used crowdfunding to take her beauty products’ website to new heights. Menstrupedia is another crowdfunded venture run by a woman. Therefore, crowdfunding, by example, has benefitted women-run businesses.
While medical and NGO fundraising remain dominant in crowdfunding India, other projects too are to be considered with great importance. Among these, women run businesses and developmental projects particularly in rural India are important. Many women have benefitted from the support group formed from crowdfunding and many more are yet to benefit. Our job should be to make this information available to them.