It appears that the global financial crisis which occurred in 2007 and lasted almost 3 years is finally over. However, its after-effects are still being felt in many economies. Whether the existing financial crises in different countries of the world are related to the crises of 2007 or not, is a debate for another time. In this article, I will discuss the financial situation in India in relation with the entrepreneurial and societal trends which are prevalent in the fast emerging economy.
I have been born and raised in Mumbai, India. In this article I will share my observation of how the Indian educational institutes and society can prove to be a major hurdle between a wannabe entrepreneur and his/her entrepreneurial dreams.
As far as technical expertise is concerned, India is producing some of the best professionals in the world. However, the culture in many of the universities and colleges is aimed at producing better employees instead of better engineers/businessmen. The students and teachers focus too much on better grades and higher scores. As a result, creativity and innovation are discouraged and the learning process becomes very rigid and mechanical.
Crowdfunding can be defined as raising funds from the general public usually through internet platforms in order to support a project started by an individual or an organization. Social media websites play a primary role in this regard, as individuals or organizations looking for funds use these websites to reach out to the general public. Instead of asking a small number of sophisticated investors for large amounts, crowdfunding allows an individual or organization to reach out to a large number of people for smaller amounts of money. Incentives such as profit sharing, free products and samples can also be associated with crowdfunding activity. Upcoming platforms such as iFunding give investors access to real estate investing via crowdfunding. This way, crowdfunding might change the way we invest in Real Estate.