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An empirical study on fund raisers’ perspective towards crowd funding models

Author: 
Prof. Paramjeet Kaur and Dr. Shreya Virani
Subject Area: 
Social Sciences and Humanities
Abstract: 

Introduction: Crowdfunding is a way to raise finance from public / individuals to fund a project or venture. It is a form of gathering funds over the internet by (Campaign) advertising the purpose and need of the project or venture. People interested in the thought / idea tends to invest or send money (any amount) in the form of monetary donation or sometimes in exchange for a future product, service or reward. The term crowdfunding was first coined in a blog post by Michael Sullivan in 2006 and has its roots in charitable donations (Castelluccio, 2012). It was initially used to support projects as diverse as record albums, books, ecology trips, scientific research (Aitamurto, 2011, Gaggioli, 2013) Research Method: Sampling Method: The present research being an empirical in nature includes survey method and fact finding enquiries. The data collected would be processed with the help of statistical techniques such as frequency, standard deviation, cross tabulation, etc. to obtain the relevant results and fulfill the stated objectives. Data Collection: Primary data is collected firsthand by a researcher through experiments, surveys, questionnaires, focus groups, interviews and taking measurements, while the secondary data is readily available and is available to the public through publications, journals, magazines and newspapers. Data Analysis: Findings of study - Reward based crowdfunding model is much preferred by the fund raisers for their startups and business ventures. - Majority of the fund raisers are satisfied with donation based crowdfunding model of crowdfunding.

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