Got A Great Idea For Your Start-Up But No Funding? Crowdfunding Can Be Your Solution!
By: Milton, Diamond
Published On: September 13, 2021
India has one of the best startup ecosystems in the world with around 51 unicorns, (startups which are valued at more than 1 billion USD) trailing only the US and China. The Hindu reports that India added three ‘unicorns’ per month in 2021 which doubled the overall number of unicorns to 51 as of August-end. Out of these, Bengaluru emerged as the startup capital of India with 31 startups in the list followed by Delhi NCR and Mumbai with 18 and 13 respectively.
Despite being one of the top startup ecosystems in the world, India is also home to 90% of startups that fail within 5 years of inception. One of the reasons for this failure is lack of innovation; Indian startups are infamous for replicating western ideas. Such startups are unable to attract funds because investors often fail to see value or uniqueness in their business ideas.
However, the primary reason for unsuccessful startups remains lack of funding from venture capitalists and other investors; and can also explain why, in some cases, even innovative and promising startups have had to close shop.
So, what can startup founders do when they run out of avenues to raise capital? How can they find investors for their startup? Are there any other financing options? - The answer is
yes, to all of these. Crowdfunding your business is a great funding option for entrepreneurs who are facing challenges in raising capital for their startups.
What is startup crowdfunding?
Startup crowdfunding is an easy way to raise a considerable amount of capital for your startup or small business through small contributions from a large number of people over the internet.
This process usually takes place through an online platform which acts as an intermediary between the startups and the donors interested in particular commercial or social projects. ImpactGuru is one such online platform that can help a startup raise capital with the support of donors. Compare the best crowdfunding platforms in India today.
Whether you’re just starting out or need a little extra support for your startup, crowdfunding is your best bet when it comes to raising money for your business. All you have to do is present your business ideas to the public and seek funding for starting your commercial or social venture. ImpactGuru will do the rest for you. Here’s how:
How can ImpactGuru help a startup?
No payback liability
Funds that are collected on a startup fundraiser count as ‘donations’ which need not be returned. There is no burden of debts or loans when it comes to startup crowdfunding. Whether your fundraiser completes its goal or not, you do not need to return the collected funds. This makes crowdfunding a convenient and hassle-free alternative.
A global family of investors/donors
With a community of 2 million+ donors from over 165 countries, your startup can receive contributions from global investors who see the potential in your business idea. What’s more is that we provide social media shout outs which will ensure that your fundraiser reaches a wider audience. If you’re lucky, your fundraiser could go viral and your business idea could be noticed by top investors from around the world!
The sky's the limit!
There is no barrier that restricts an online fundraiser from reaching astronomical amounts. Do not underestimate the capabilities of crowdfunding because earlier this year, parents of 3-month-old SMA kid- Dhairyarajsinh started a fundraiser on ImpactGuru and were able to raise Rs 16.25 crore for his treatment in 196 days against all odds! Little Dhairyarajsinh from Ahmedabad got his dose of Zolgensma on May 5, 2021 with the unending support of over 2.64 lakh donors!
Be as transparent as possible when sharing your business idea on your fundraiser, adding images of your team and company office will be a valuable addition and will help you garner support from more donors
If you need financial support for your startup or small business you can always rely on crowdfunding. With ImpactGuru you can raise funds for infrastructure, equipment, employee management, set-up cost, technology and more!
Start an online fundraiser with ImpactGuru today to raise capital for your startup or small business. If you need assistance in presenting your business idea or raising funds faster, you could always reach out to us on [email protected] or 1-800-102-0380.
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