Crowdfunding platform, BitGiving is all set to launch version 2.0, inviting creative and entrepreneurial projects
With the idea of leveraging communities through social media to raise funds for initiatives and projects, BitGiving was launched in December 2013.
Two years ago, when BitGiving started out, crowdfunding was a nascent concept in India. People did not understand how it worked and there weren’t many success stories.
“While setting up, the biggest challenge in crowdfunding was to figure out what both the campaigners and contributors are looking for as crowdfunding is very cultural in its essence”, says Ishita Anand, co-founder Bitgiving.
Social Media is the backbone of crowdfunding campaigns. A lot of conversations that originated on BitGiving went ahead to become trending topics on Social Media – whether it was the Indian Ice Hockey team raising funds to go to Kuwait or the Friendicoes campaign going viral because more than 1000 people transacted on the platform in less than 3 days and were sharing the link aggressively.
“The engagement process was not just to get contributions for a campaign but get the community to share their stories.” Says Anand.
One message that Ishita Anand gives out is to not underestimate your gut feeling and take a leap at the right time. Bitgiving was started to solve a problem, not knowing how the big the market could be or how many people would want to use it.
“Also, it’s important to remember that there is nothing that a strong community can’t do- respect the community you’ve built and let them make your platform their own. All great products were built on the same principle.” Adds Anand.
It started as a social initiative centric crowdfunding platform and have now opened up to creative as well as entrepreneurial projects.BitGiving is all set launch version 2.0 which is all set to redefine how community driven crowdfunding goes forward in India.
“Being recognised in the Social Media for Empowerment Awards felt amazing. While there are so many movements that have taken off through social media in the last few years, it’s great to know that we’ve been able to make a tangible contribution to them!”