IS CROWD FUNDING RESHAPING THE START-UP ECOSYSTEM IN INDIA? - A CASE OF HOLOSUIT
Abstract
Crowd funding is one of the popular method of raising funds within short span of time crowd funding has become popular in sourcing of finance. Crowding funding concept has emerged in wake of 2008 financial crisis. It is an important platform for entrepreneurs to share their innovative ideas on social platforms these platforms provide an opportunities for new startups and entrepreneurs to raise funds. Social media platforms help in connecting entrepreneurs with potential investors who support innovative ideas and invest in new startups. In India the concept of crowd funding is in growth phase. Crowd funding platforms helps many individuals, artisans, entrepreneurs to collect funds furthermore, crowd funding campaign is an innovative approach of financing projects and social cause. Using social media profile, web based communication channels, social networking sites, an individuals and firms can raised funds in form of charity, donations, debt- equity funds. India has witnessed a remarkable growth in crowd funding investment from last two decades. Crowd funding helps to finance a projects, small business, film productions, disaster reliefs, medical treatments and so on. On other hand there are challenges associated with crowd funding, how to overcome the potential risks and challenges is major consideration. The present case study concentrates on crowd funding investments in India and author intends to present an inspiring successful crowd funding story of Holo Suit from Indian context. The present study is purely is descriptive in nature and secondary data has been collected from journals, authentic e-sources, company websites. The outcomes of the study revealed that Crowd funding is a boon for individuals who wants to achieve their goals, since India is developing nation people will hesitate to invest in new start-ups, innovative businesses or ideas major concern is about accountability and transparency. Although there are some challenges and risk associated with crowd funding people across the globe come forward to Invest in social benefit projects and contributing towards economic growth of nation.
Keywords: Crowd funding, social networking, Innovative ideas, Investments, Economic growth, descriptive study.
