NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Thursday, October 15, 2015

The country’s first live crowd funding event was witnessed at Kolkata on a cruise on river Ganga last evening.

The unique concept of live crowd funding was conceptualised by Nasscom’s 10K Startups partnering with crowd funding platform–Catapoolt and payment gateway major Payumoney.

“This live crowd-funding pitch at Kolkata was India’s first. Catapooolt, PayUmoney and Nasscom 10K Startups have collaborated with a mission to build India’s largest growth ecosystem for Startups and SMEs. And the same happening on a cruise makes it even more inetresting,” PayUmoney, head channel partnerships Paritosh Sharma said last evening.

Crowdfunding is a form of alternative finance, which has emerged outside of the traditional financial system and garner funds from contributions from a large number of people without diluting any stake.