Most of us have grown up in India hearing facts about how Indian minds are the sharpest in the world and how most NASA scientists and Intel engineers are Indians. Does it really make us proud boasting about how an Indian has discovered something new in a foreign laboratory and commercialized it to success in that country? At the same time is it not a matter of shame that his Indian counterpart who is equally talented and had the same education and skill sets has invented something too that deserves world-wide acclaim but due to lack of funding his idea does not see the light of the day?
In India historically innovators have always faced the money crunch when it came to commercializing or bringing their ideas out from the laboratories to the market. There is hardly any government support and there is very little that their institutes and research centers can do by way of monetary support. Many such Tier-1 institutes in India like IIT and IISc have come up with incubator cells but they are not sufficient to support everyone’s idea. And we believe the innovative minds are not limited to just these few premier institutes.
Crowd-funding works for innovators
So are you an innovator? Did you get your last innovative idea patented? What next? Would you let your valuable hard work and intellectual property die a silent death? Commercialise it, raise funds for it and bring it to the masses… that’s where Funduzz.com comes in to be your partner in growth.
Globally Innovators, Engineers and Scientists have actively taken to crowd-funding to bring their ideas to the market. A secure mobile payment device, a gesture-based mouse that connects your television with your computer, a mobile telemedicine app for screening skin cancer, a satellite-linked webcam to monitor penguins in the Antarctic. These are just a few of the recent science and technology projects seeking financial support through the new wave known as crowd-funding. Crowd-funding is taking social networking a step forward. You not just ‘Like’ someone’s FB post or picture, nor do you just ‘Follow’ someone on Twitter or ‘Connect’ to someone on Linkedin. You support someone else’s creative and innovative imagination and become a part of the idea. By supporting an innovative project you are not just supporting him / her financially but also helping the society at large.
Research projects by PhD students in India hardly get any financial support apart from the petty stipend they are entitled to. How on earth can we expect the PhD students to make a living as well as save sufficient from this stipend to commercialize their project ideas?
How is Crowd-funding better than Venture Capital funding?
Crowd-funding is a better option than the traditional venture capital (VC) route, which has become riskier for inventors. VC investors are increasingly burdensome and short-term oriented. The typical VC Investors mindset is “if you don’t make your money fast, you’re not going to make it at all”. Crowdfunding offers a way to enable long-term innovation outside of that quick-buck, venture capital mentality. This will put us back on the cutting edge of the global innovation curve.
Crowd-funding helps innovators to connect to your market directly
Innovators and scientists are generally not the best when it comes to marketing their products. The advantage of raising funds on a Crowd-funding platform like www.funduzz.com is that you are actually connecting with your audience and target market and pre-selling the products to them. They are your brand ambassadors and would be spreading the word about your products to their circle of social network too thereby multiplying your marketing reach. You also get valuable feedback on your products from your supporters which could help you to tweak and improve your product before the final launch. Crowd-funding sites like www.funduzz.com also provide legal advice, social media marketing tips and guidance and also help on getting the necessary patents and licenses for your products.
Summarizing we believe that crowd-funding platforms like Funduzz.com would be filling the gap that has always been felt in India’s technological research and product development. Crowd-funding is here to stay and would be the next level of social networking which is a more evolved one. India would be embracing crowd-funding in the next 1-2 years just as it did social networking 1-2 yrs back. Calling upon all Innovators and Creative people to leverage this platform and realize their dreams.
Visit www.funduzz.com to know what a simple platform can do for you online!