Crowdfunding harnesses the potential of many small individual donors by channelling funds through a platform to a spectrum of projects. Crowdfunding is an extremely popular method to raise funds for causes in the West, and in India non-profits are beginning to recognise the power and potential of leveraging streams of funding through digital platforms that harness social networks of supporters.
These platforms have made it faster and more convenient to mobilise money for causes and campaigns and often also support those raising money with tips, tools, and training to leverage resources from their networks and beyond.
Crowdfunding is an even more powerful force than the philanthropy of the super rich. It helps build the core; the foundation that makes for successful societies and nations. We hope this report will help many more to join this exciting new space of crowdfunding.
Given its potential, the use of crowdfunding by non-profits incentivises non-profits to improve organisational capacities and grow community support. Funding strategies that effectively incorporate crowdfunding can de-risk grant funding reliance, and bring greater exposure to the important issues that non-profits are engaged with. While executing successful crowdfunding strategies and campaigns can be challenging, requiring skills in communication, planning, and strategising its potential needs more attention and support from Indian philanthropies.
This report addresses why and how the wider philanthropic and donor communities in India should encourage and enable non-profit and crowdfunding ecosystems more effectively.
