By Anshul Tewari:
This was originally posted at the Youth Action Center.
While most of us try and self-fund our projects, and while that is the best bet for anyone, there does come a time when you are in need for external funding and help to sustain your project and grow it along the way. Even though there are many typical ways of seeking funds, such as – grants, venture capital, angel funding, donations, etc. – we try and look at few innovative funding models to help you grow your project to the best.
1) Indiegogo:
IndieGoGo is an easy online platform for anybody in the world to raise more money, from more people, fast. With IndieGoGo you can turn your passion into a funding campaign, promote your idea, engage a fan base, and get funded. It provides all the tools you need to build a campaign and share it with the world.
Know more about Indiegogo here.
2) GiveIndia:
GiveIndia is a donation platform that allows you to support a cause of your choice from about 200 NGOs that have been scrutinised for transparency & credibility.
GiveIndia runs a platform called iGive which enables anyone to raise funds for the cause close to their heart.
Know more about GiveIndia here.
3) RangDe.org:
The motivation for starting Rang De was the belief that the peer to peer lending model could be leveraged to lower the cost of microcredit and reach out to under-served communities. RangDe.org’s vision is to make poverty history in India by reaching out to underserved communities through microcredit. They do this through a network of committed field partners and social investors and offer microcredit that will have a positive impact on business, education, health and environment of the communities they work with.
Know more about RangeDe.org here.
4) CitizenEffect:
CitizenEffect gives Citizen Philanthropists the ability to choose their project, leverage their social networks, and communicate directly with their partner community. It is probably the best way to raise funds for the cause close to your heart.
In their own words, “We are seeking people that do not just want to give $50, but want to bring their friends, family and social network together to raise $1,000 or $5,000 or $10,000 and to make a real and significant impact in the lives of a community in need.”
Know more about CitizenEffect here.
5) ChipIn.com:
ChipIn’s mission is to make it easy to collect money. They enable users to organize group payments and fundraisers (“ChipIns”) in a quick, easy, and secure way. They also make it simple for organizers to publicize their ChipIns, by providing powerful fundraising widgets that can be embedded in social media.
Know more about ChipIn here.
6) Milaap.org:
Loans provided using Milaap are disbursed at approximately 12 to 18% interest rates – almost 50% cheaper than the existing credit available to small borrowers. While a donation through charity has a one-time existence and a relatively short life-span, your loans on Milaap, once repaid can be used to fund another project, thus creating a liquidity cycle needed to uplift many small credit borrowers.
Know more about Milaap here.
Have more to add? Add your favourite ways in the comments section below.