Crowdfunding Adoption and Practices in NGOs in India
Keywords:crowdfunding, crowdsourcing, NGOs, India
NGOs are crucial to the expansion of social cause requirements. There are numerous small NGOs in India working for a range of social concerns that support the uplift of the poor. Funding is the main requirement for an NGO to operate efficiently. In the past, whenever a non-profit organisation (NGO) needed money, they would need to plan fundraising events or approach businesses or wealthy individuals. This approach is effective, but it can eventually become tedious. Some new sources of funding for NGO projects are emerging as investment mechanisms change. In this essay, we talk about how popular it is for NGOs to use crowdfunding as a source of fundraising. With the advancement of the internet and information technology, crowdfunding has seen tremendous growth in recent years. The main goal of this essay is to define crowdfunding and describe its various forms for NGOs in India. Evaluation of the benefits, precautions to be taken, and risk associated with crowd fundraising. Crowd fundraising may be encouraged by India's expanding economy. how well the NGOs are at luring Indian investors.
Akalya, V. (2019). A study on crowdfunding in India. International Journal for Research in Engineering Application & Management (IJREAM) 4(10): retrieved from DOI: 10.18231/2454-9150.2018.1412SA visited on 2nd July 2020.
Kraus, S., Richter, C., Brem, A., Cheng, C. F. & Chang, M. C. (2016). Strategies for reward-based-crowdfunding campaigns. Journal of Innovation & Knowledge pp 13-23.
K, P. (2016). A study on crowd funding and its implications in India. Paripex – Indian Journal of Research 5(1): pp 233-235.
Krishna, G. P. (2015). An Empirical Overview of Crowd Funding- An Emerging Trend In India. International journal of research, 2(8), 893-897.
Kirby E. and Worner S. (2014). Crowd-funding: An Infant Industry Growing Fast. IOSCO Staff Working Paper 3
V, L., Vaswani, P., Kaur, K. & S, M. L. (2019). An Exploratory study on crowdfunding platforms in India. International Journal of Current Research 11(01): pp 970-972. Retrieved from DOI: https://doi.org/10.24941/ ijcr.34153.01.2019 visited on 5th June 2020
Sajjan, R. (2017). Crowdfunding ecosystem in India. International Journal of Science and Research 6(12): pp1230-1232. Retrieved from DOI: 10.21275/ART20178891 visited on 8th June 2020.
“CSRBOX.” CSRBOX, csrbox.org/Impact/description/Article_full_Top-5-Crowdfunding-Platforms-for-NGOs-In-India_3. Accessed 21 Sept. 2022.
Smith, Sarah. “How to Crowdfund for Non-Profits | Global Nomadic.” Global Nomadic, 5 Jan. 2017, globalnomadic.com/crowdfund-for-nonprofits/
“Advantages and Disadvantages of Crowdfunding | nibusinessinfo.co.uk.” Advantages and Disadvantages of Crowdfunding | nibusinessinfo.co.uk, www.nibusinessinfo.co.uk/content/advantages-and-disadvantages-crowdfunding. Accessed 01 Sept. 2022.
“Crowdfunding for Nonprofits | National Council of Nonprofits.” National Council of Nonprofits, 9 Jan. 2015, www.councilofnonprofits.org/tools-resources/crowdfunding-nonprofits.
Kumar, Pawan. “Why Crowdfunding Is the Best Fundraising Option for Your NGO – funds for NGOs.” Funds for NGOs, 22 July 2016, www2.fundsforngos.org/cat/crowdfunding-best-fundraising-option-ngo/
“Crowdfunding Model | STUNNING.” STUNNING, 3 May 2020, renovation-hub.eu/business-models/crowdfunding-model.
MGH. “Pros and Cons of Crowdfunding - Make Giving Happen | Crowdfunding.” Make Giving Happen | Crowdfunding, 9 May 2018, makegivinghappen.com/crowdfunding-pros-cons.
“Crowd-funding Platforms: Connecting NGOs With Donors - the Hindu BusinessLine.” Crowd-funding Platforms: Connecting NGOs With Donors - the Hindu BusinessLine, 28 Feb. 2021, www.thehindubusinessline.com/opinion/crowd-funding-platforms-connecting-ngos-with-donors/article33956054.ece.
How to Cite
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
This is an open access article under the CC BY-NC-ND license Creative Commons Attribution-Noncommercial 4.0 International (CC BY-NC 4.0).