Market regulator Sebi is planning to come out with guidelines for crowdfunding, a move that will greatly benefit crowd funding startups and entrepreneurs looking to raise capital.
Sebi chairman UK Sinha said at an investors’ conference
We are coming out with guidelines on crowd-funding soon, because we want to encourage young entrepreneurs to raise capital. Our aim is to help young people raise capital very smoothly. (via)
Recently, the International Organization of Securities Commission called for regulatory checks on crowd-funding to avoid risks. India already has seen a few crowd funding platforms come up.
However, most Indian entrepreneurs and startups have been raising money from Kickstarter or Indiegogo. Indians have contributed to over $1 mn on Kickstarter.
There have been nearly 157 campaigns on Kickstarter from Indian and a lot of them have been highly successful.
Crowdfunding Success from India
Unrest, an RPG set in ancient India by Jaipur based Pyrodactyl Games, successfully raised $36,251, nearly 12 times its initial goal of $3000, from Kickstarter.
Dabba Radio, a Mumbai based public radio service successfully raised $ 5,502 from its Kickstarter campaign.
Gecko, a low powered Bluetooth device which can gesture control your smartphone and be used to track things has successfully raised $135,410 from a crowdfunding campaign onIndiegogo.
Fin, a wearable technology startup from Cochin, successfully raised over $100,000 from itsIndiegogo campaign.
Printajoy, an Ahmedabad based startup that will print your Instagram photos and ship it to you, raised Rs 102,500 from its successful campaign on Wishberry.
Lucia, an independent Kannada film by an ex-IT professional Pawan Kumar, raised Rs 51 lakhs in just 31 days through a crowdfunding campaign.
Recommended Read: Crowdfunding in India : Waiting for ONE Big Deal