An exploratory study on crowdfunding platforms in india

Crowdfunding is a united effort by people who connect and fund collectively for a personal, societal cause or a business idea. Though it sounds very similar to the traditional concept of charity or social support, funding here is done with an objective of earning some return either monetary or intangible. The present day crowdfunding is connected with internet and the use of social media for fundraising. In India crowdfunding is still in its embryonic stage even though the potential is incredibly high. The paper studies the select Indian online crowdfunding platforms, their functioning and focus area, CFPs not only support business activities but also social causes. E.g. Milaap (www.milaap.org) supports personal and social causes through the platform. The CFPs were selected to represent a diverse set of crowdfunding areas and the availability of data.