India is abuzz with innovation and entrepreneurs seeking funds to float new ideas. Typically, entrepreneurs raise money for their fledgling start-ups from angel investors, venture capitalists and even banks.But getting cash from these sources is a tedious affair, and many small start-ups are not equipped to handle the paperwork. Crowd-funding is thus a great alternative to raising funds with minimum risk involved.
The concept is already very popular in the US through portals like kickstarter and indiegogo but it is only just picking up in India. As a yardstick of its success globally, check out these figures: In 2012, crowd-funding portals helped companies and individuals worldwide raise $2.7 billion from members of the public, an 81-per cent increase over the previous year. What exactly is crowd funding?
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