What is Crowd-Funding

Online Fund Raising India

Start51.com - Project Guidelines

 
Funding for genuine and creative projects:
A project should have a clear goal. The creator must specify what the project is going to be at the very beginning. It can be making an album, a book, or a work of art. The project must have a vision to be achieved. The idea is that a project should be completed, and something should be produced out of it. It should not be an open-ended venture. For example, starting a business, does not qualify as a project.
Project title:
Project title should be simple, explicit and impressive. The title should give the impression of the project you are raising funds for..
Project description:
Use the description to share more about the objective of your project. Specify the need for inviting contributions and how you plan to pull it off. The effort for project development solely relies on you. It’s up to you to make others like, share & contribute to the concept.
Contribution duration:
Once the project gets approval and is online, it will have 51 days to collect contributions.
Contribution target:
Contribution target should be a minimum amount that fulfills the requirement of project completion. Because funding can be all or nothing, you can always raise more than your goal but never less. For example, say after 51 days you have collected Rs.1.95 lakhs, but your target was Rs.2.00 lakhs, this implies that the fund raising has failed. As a result, all the money will be returned to contributors.
Social Network:
The success or failure of your project heavily relies on your presence on the social networking sites. Social networking sites such as, Facebook, Twitter,LinkedIn, Onstart51, etc provides one point access for sharing information and videos. You and your project can attain new heights of success, if these platforms are used to good effect.
Identity verification:
Every project requires a verified Start51.com account. If the venture is an individual idea, you need to get verified by providing basic identification details. If it is representing a legal entity (organization or a company) you need to get verified as the representative for the same. Verification process is a critical part of this type of fund raising. The procedure requires legal documents for verification on the site.
Start51.com prohibits charity or cause funding:
This website strictly supports creative ideas using funds from contributors. The use of this website for raising funds for personal benefits and supporting NGOs is strictly prohibited. The website restricts raising money for funding campaigns, scholarships, future profits, share holding, donation to a charity or for supporting a cause.