The concept of online crowdfunding goes way back to the 17th century when people used to finance publications that were not printed. It then started as a website called ArtistShare in 2003 where musicians sought funds from their fans to produce the latest albums and digital recordings. Since then, this idea kept on increasing. The era of Online Crowd Funding – Here is What We Need To Know!.
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This technological revolution of 21st century has changed our lives significantly. We don’t need to go outside in order to buy something; be it a dress, furniture, home appliances, house, and even a new product that has yet to come in the market. Yes, the Entrepreneurs have been making the best use of the internet by launching their products through these platforms. Actually, it is the best way of raising money from all over the world or from a large group of people.
Many businesses, especially startups use this idea as a way to raise capital and for industrial growth. It helps them in connecting to the maximum number of customers on a global level. It could be reward, loan or investment based. Reward based crowd funding is usually done for the development of product and the people who support small owners in building an accomplished product usually get that product as a reward; while in loan and investment based crowd funding, people give money in order to receive interest or buy some shares respectively if it goes well.
Another form is donation based funding, which includes collecting money for a specific objective mainly to help without getting any benefit in return. The trend of gathering money for helping someone is on the rise and people are using such platforms in order to reach global community for providing help to the needy ones.
Now, when did the idea become so appealing? What makes people want to give their money just by one click on the website? The reason is simple, it’s convenient. You don’t have to apply for the loans or meet potential investors in this process. It is completely opposite to this and quite convenient to approach instead.
Transparent Hands has been established under the idea of donation based funding platform. The main purpose of the organization is to connect poor patients with the donors ensuring complete transparency. Therefore people from all over the world could donate for the poor patients who need surgeries, with the help of online crowd funding through Transparent Hands’ own web portal. We have been able to manage funds for the surgeries of more than 180 patients with a total of 8 best hospitals and 8 institutes on board within a year. We intend to make this platform a remarkable revolution in the healthcare industry of Pakistan.