The total amount raised will be matched by the academy and few grant giving organizations that we work with,” adds Agarwal who has already planned further extension of the incubator. “Mahadevan will curate these music artists and we will help them raise money. Interestingly, the platform will soon launch an incubator for budding musicians along with composer and singer Shankar Mahadevan’s (who is one of the investors in Wisberry) Bengalurubased Shankar Mahadevan Academy. So it’s vital to have the brand focus,” says Priyanka Agarwal, Co-Founder and CEO, Wishberry. Even though one of our competitors has a bollywood actor as its co-founder, they haven’t been able to attract any big ticket campaign. “We are on a mission to rescue creativity in India. In 2014, it changed its flexible funding model (for campaigners to get whatever money they are able to raise in the limited time instead of raising the targeted amount) to all-ornothing. Rewards-based Wishberry aspires to be India’s Kickstarter – world’s second largest crowdfunding platform (in terms of total money mobilized) as both focuses on creative projects. We will take it to other emerging markets in South Asia in one-two years,” adds Viswanathan.

No crowdfunding platform has this structure globally.

“If people want to take their cause to a larger audience, we would help them through social media. They call it ‘Amplify’ as an option for the campaigner. Second, in order to attract more support and visibility to the campaign beyond the campaigner’s own network of friends and family, Milaap uses social media diligently. The platform is now focusing on two broad areas first, it is taking a sector-driven approach towards partnerships, for instance, with hospitals where doctors would be setting up campaigns for their patients or recommending them to Milaap. Medical emergencies and community projects (civic engagements, renovation of local school etc.) are among the top reasons people choose Milaap. For good, there is no time limit to raise funds and hence, the campaigner can raise funds as long as he/she wants without any penalty. “We are a utilitarian platform in the sense that people raise money for something that has a purpose and a meaningful impact,” says Anoj Viswanathan, Co-Founder, Milaap. Today, it is the largest charitybased crowdfunding platform in India for personal and social causes even as charity or donation-based model is the largest crowdfunding model in India. Started in 2010 as a micro lending platform, Milaap expanded its scope of lending to crowdfunding model in September 2014 after realizing that only so many causes can be supported via micro lending route that exclude cases like medical emergencies.

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