How pandemic changed crowdfunding

The platform also says that there is a need to develop a policy framework around crowdfunding, to prevent the misuse of platforms raised for a good cause.

New Delhi: Over recent years, many fundraising platforms have come up in India which are directed towards helping individuals and organisations to raise funds for the needy for a variety of causes. During the pandemic, one saw the widespread use of such initiatives that have significantly helped individuals or communities requiring money for medical expenses.

One such platform, called First HelpCare, shares how the face of crowdfunding changed during pandemic.

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“With the arrival of Covid-19 the country had to go under a lot of changes, we got to see the weakness within our system and organizations and few actions of strengths were also portrayed by various working bodies. Crowdfunding also became one of those ways to provide help to distant areas where people were restricted to even step out of their homes, everyone could just do the minimum by donating small amounts of money from the comfort of their houses and make a difference in someone’s life. With the lockdown in play many people turned towards crowdfunding as this was the easiest and most helpful way to reach out to the ones who were helpless in this crisis,” the platform tells IANSlife.

First HelpCare, a free crowdfunding site, initially in Ranchi and the nearby areas, has raised funds for children’s education, acid attack victims, child labour, and cancer survivors. During Covid-19, it raised funds for daily wage workers and those struggling to arrange money for Covid treatment.

From a humanitarian perspective, what makes people donate to a stranger’s cause? The logic is simple. “Everyone wants to be a good person, everyone tries to be one and doing good deeds gives people that satisfaction.”

“Since Covid-19 hit the world everyone has had their moment to realise the importance of lending a hand in the time of need, no one is coming to help the common folks, we need to help each other. We believe people have realized this now. Crowdfunding is the best way to do your part in helping someone as you don’t have to go out and do any work at all but by just making a difference from the comfort of your house.”

The platform also says that there is a need to develop a policy framework around crowdfunding, to prevent the misuse of platforms raised for a good cause.

Finally, how can crowdfunding models be strengthened, in view of similar future crises?

“There is still a major population of people who are still not aware of the concept that is crowdfunding, people have mixed feelings about it and find it hard to trust this process but they need to understand what it stands for and what purpose it serves.”

“Crises are bound to happen to everyone, they don’t differentiate between the rich and poor and by crowdfunding people don’t just help out financially but also help mobilise certain resources in the time of need.”