It’s been raining start-ups in India for the last half decade. The Indian startup ecosystem is booming and the number of start-ups in India is on the rise. Young Indians are growing up with million dollar ideas and slogging hard to build their own dreams rather than be part of someone else’s.
#1 Crowdfunding provides you with the crowd: It doesn’t. The unfortunate truth is that the crowdfunding party is a BYOC, as in Bring Your Own Crowd. Too many people think that the crowdfunding is the magical gateway to the mystical world with Colosseums full of cheering crowds waiting to throw their gold at you. More often than not you have to bring your own crowds to our Colosseum.
That raises the question, why crowdfund? Why not just ask your friends to give you money? Because crowdfunding works like a web. You weave some and you let others weave some. The first level of web will have to be built by you.