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Kannada Film Lucia & Crowd Funding in India: Creating Platforms is not just the Answer

CrowdfundingThis film is thus yet another ratification of crowdfunding, which is a $6 Billion global phenomenon today. It is gradually firming up its presence and success in India. Lets take a look at some data.

  • Total number of projects crowdfunded so far: More than 150!
  • Total amount raised through crowd-funding in India: More than INR 300 Lakhs!
  • Highest amount crowdfunded for a single project: INR 84 Lakhs (Onir’s film I AM)
  • Highest number of contributors for a single project: 610 (Pawan Kumar’s film LUCIA)
  • Crowdfunding Platforms: More than 3.

Some key demographics of Crowdfunders in India

  • Average contribution per project: Rs 2, 800/-
  • Average number of contributors per project: 24
  • Most contributors are from cities Mumbai and Delhi. Almost 60% of current funders are coming from non-metros and international destinations.
  • Most crowdfunders are currently males aged between 25-40 years

(Data Source Analysis of existing platforms and key crowdfunded projects done by team at Catapooolt)

A creative of the Kannada Film LuciaBut then – is this all what will propel crowdfunding in India?

I have been propagating crowdfunding since last three years in India. These days, I am seeing a vigorous interest in this domain. With a new crowdfunding platform getting launched more frequently than ever. While I really love this fact, I wish to pen down some market realities, which new entrepreneurs, as well as some existing platforms, should definitely consider, if they really wish to make India crowdfund.

  1. India’s ‘Giving’ psyche: One must understand that the underlying consumer behavior in India – is in stark contrast to our global counterparts. While culture and creativity is really valued in international markets and large section of people show a penchant to be part of these creative endeavors – in India, ‘passion’ is not a significant driver towards giving. As compared to his global cousin, an Indian will always think twice while spending Rs 500/- towards a creative project – unless he really believes in the cause of the project or knows personally the person behind the project. ‘Passion giving’ is something which will still take some time in India to evolve – and so meanwhile, the platforms will have to plan different strategies. On our platform Catapoolt, we built the focus on rewards and making them more tangible for the contributors.

Thought on Equity Crowdfunding in the US?

by Crowdfunding-Sites

Hey All,
Curious on your thoughts on Crowdfunding; nonprofit, individual and Equity crowdfunding.
Have you ever run a crowdfunding project?
Was it successful?
How/Did you promote the project outside of the Crowdfunding Platform you utilized?
Doing some additional research for
to figure out if we should stick to reviewing crowdfunding platform and support services or branch in to promoting crowdfunding projects

Hybrid Angel Group SideCar Angels Exceeds $1 Million in Investments  — Crowdfund Insider
Boston based SideCar Angels, a group that leverages a hybrid crowdfunding / angel model, to fund early-stage companies, has exceeded $1 million of investments in start-ups over the past 12 months while doubling the number of their members.

CreateSpace Independent Publishing Platform Street Smart CEO: Lessons from Failed Startups + Crowdfunding @ InvestP2P.com
Book (CreateSpace Independent Publishing Platform)
Wiley The Crowdsource Funding Services Handbook: Raising the Money You Need To Finance Your Business Plan (Wiley Finance)
Book (Wiley)
BankToTheFuture.com CrowdFunding 2.0 - The 7 Dumbest Mistakes When Raising Finance For Your Company (CrowdFunding & CrowdInvesting Series)
eBooks (BankToTheFuture.com)
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