Crowdfunding has been gaining popularity in recent times. The crowdfunding concept is new in India and comes with many challenges. What majorly concerns is trust. The idea is about asking many people for money according to their capabilities and interest.
Crowdfunding is an excellent opportunity for people experiencing financial crises. It can help people meet their objectives. Crowdfunding platforms help establish fundraisers to support a cause wherein people are helpless to raise money. Students can pursue their education, a startup can raise funds, and ailing patients can restore health with crowdfunding.
The PM Cares Fund has adopted a crowdfunding method to make contributions to the fight against the coronavirus. The growing popularity of crowdfunding platforms reveals that people are together during crises, especially during a pandemic. This signifies that the proper usage of the platforms helps the large number of people who are in need.
Implementing active crowdfunding campaigns on social media will accelerate the growth of the crowdfunding industry.
Here are some live instances to know the crowdfunding effect on saving and transforming lives.
1. One of the Ikkat weavers, Jayamma of Yadadri-Bhuvanagiri district, went through hard times during the pandemic. She was among the many supported financially through crowdfunding and was repurchased to everyday life.
Creative Bee Foundation (CBF), with the help of the Milaap crowdfunding platform, could issue grants for more than 2000 weavers and artisans in 7 villages to meet their tough times. Along with this, rations and medicines were given to the elderly through donors.
Such online fundraising programs ensure the survival of the handloom weavers and even create awareness about how important it is to preserve them.
2. The House of Artisans, a medium-sized organization, employs around 200 rural artisans who make handcrafted products. The business had to shut down due to covid crisis. Shineel Tilwani, the creator, has initiated a campaign through Ketto by which he could generate 42 lakhs.
3. Crowdfunding has come to the rescue of the Rambo circus troop, which was stuck in Mumbai due to the lockdown. Inspired by this, local NGOs have also served them with essentials.
4. Milaap, a crowdfunding platform, rose to provide funding across the key sectors and gain access to essential services such as water, sanitation, education, and energy.
Role of crowdfunding in supporting children requiring Zolgensma drug
Spinal Muscular Atrophy (SMA) is a deadly disease that affects one in every 7744 Indian children. The disease affects the nervous system to result in muscle degeneration and weakness. Children suffering from this disease have trouble eating, swallowing, breathing, and supporting their heads.
The advancement of science and technology has enabled them to experience a better standard of living. Zolgensma is the only available allopathy treatment, which costs 16.4 crore INR for a single dose.
- A girl from Ahmedabad received the life-saving drug Zolgensma on May 5, 2021. To everyone’s surprise, the social media fundraising campaign has raised Rs. 16 crores from more than 2.64 lakh generous donors in just 42 days.
- A 3-year-old boy from Hyderabad received a Zolgensma injection on June 9, 2021. Donors globally have contributed 14.84 crores.
- A two-year-old girl was detected with the SMA type in November 2020. Her parents launched the crowdfunding campaign on the social media platform, which soon caught the people’s attention to raise 14.93 crores from 87k donors in just 159 days.
The Union Finance Ministry of India has removed the import duties on Zolgensma medication due to the public interest. This exemption causes many families to get many families relieved of the financial burden of child care.
The article has proved the significant influence of crowdfunding on transforming human lives. Where there is a will, there is always a way. Whatever platform you choose, the results are excellent.
An AI-powered organization, provides you O-Bless, a crowdfunding platform for Lifting humanity. O-Bless team has recently visited Sivananda Rehabilitation Home and joy foundation society to deliver food, supplies, and essentials to the orphans and the senior citizens, the poor, homeless, and hungry.