"Crowdfunding may be the new fashionable financing option in the global start-up scene but it’s a well-established practice in India. In 1976, director Shyam Benegal financed his film Manthan by collecting Rs2 each from thousands of Indian farmers, whose cause was presented in this story about a rural milk co-operative.
Like Manthan, most examples of crowdfunding in India have occurred offline. But now green shoots are emerging in online, too.
Crowdfunding, as its name suggests, happens when a project is financed by a group of individuals contributing a relatively small amount each. Recently, this has been co-ordinated online, with entrepreneurs posting pitches on the web. They could be seeking finance for pretty much anything, from social enterprise to technology start-ups and arts projects. Kickstarter is one well-known online service in the US and beyond."
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