1Assistant professor, DIMR, Dnyansagar Institute of Management and Research, SKP Campus, Baner - Balewadi Rd, Laxman Nagar, Baner, Pune, Maharashtra
2Associate Professor, AKI’ s Poona Institute of Management Sciences & Entrepreneurship, Pune
Finance is the heart of the business or any startup! Without funds or finance, no business or startup can come into existence or grow. Crowdfunding is one of the ways of raising funds for the startups or projects. It is the act of raising funds ‘online’ from great number of public who contribute or donate comparatively less amount. Artists, Musicians and filmmakers are the ones who have availed the funds and made crowdfunding popular. Crowdfunding is also getting popular in India but it doesn’t come under the purview of the Government’s rules and regulations. It is akin to the stock exchange where the funds are raised through the public online but crowdfunding is not legally authorized as stock exchange. India is the country of talent, skills and creativity. And therefore there is need of the hour to get the legal status to crowdfunding and make it more worthwhile for the artisans. This research paper is an attempt to create awareness about the Crowdfunding which is still in the budding phase in India. The procedure, the ways of crowdfunding and its legal status is discussed in this paper.
Crowd Funding, Legal Status, Artisans, Crowd Funding Platform
