Introduction
In this column of November 2020, a brief account of contemporary Indian startup ecosystem was presented with narratives on various initiative of Government of India for propagation of successful startups. Various schemes for crowd funding were briefly narrated as options for providing funds to young entrepreneurs for value generation by actualising their ‘innoventive’ ideas. Platforms designed using blockchain technology was ideated for facilitating the process of crowd funding with transparency and commitments by and between stakeholders under insightful oversight of a designated Regulator1.

Crowd funding symbolises the old axiom “Many a drops make an ocean,” It helps founders of new entities to approach hundreds of individuals to fund their entrepreneurial or social service activities. Often rewards are offered in return for products or equity when such funding is solicited by commercial ventures. Schwienbacher and Larralde (2010)2 defined crowdfunding asprojects that “…. can range greatly in both goal and magnitude, from small artistic projects to entrepreneurs seeking hundreds of thousands of dollars in seed capital as an alternative to traditional venture capital investment……. the crowd fund small amounts of money to accumulate into an investment large enough to finance a project or a start-up company.”
Albeit structured information being not available, unconfirmed information suggest that “……India has seen a massive crowdfunding success story many years before the term was coined: the story of the Reliance Industries founder Dhirubhai Ambani. His small yet growing textile business was crowdfunded by communities across the Indian state of Gujarat.”3 Crowdfunding is now a web based model of the same old concept. Separate platforms for specified projects are hosted by service providers against the charge of nominal fees.
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