Shark Tank India was, undoubtedly, a very good opportunity for entrepreneurs to raise funds for their startups. But it was only the first season with very few slots and a rigorous screening process. That means not everyone could get in. But if you are a startup owner seeking funding for your venture, then here are other online portals you can look for.
1. Crowdfunding Platforms
Crowdfunding had to be on the top of the list considering the cumbersome processes involved in other forms of fundraising. Crowdfunding is an easier and less complicated manner through which innovators, social entrepreneurs, startups etc. can raise funds.
But what exactly is crowdfunding? Crowdfunding is when a small amount of money is sourced from a large group of people to finance a venture. There are two types of crowdfunding startups can seek — reward-based and equity-based.
In reward-based crowdfunding, investors might get the product as a gift or might get invited for the launch of the product to compensate for their investment. Whereas in equity-based crowdfunding, investors get a small share of the company. However, equity-based crowdfunding is illegal in India, depending on your product, you can explore reward-based crowdfunding.
Different crowdfunding platforms in India include Kickstarter, FuelADream, Ketto, Milaap, etc.
AngelList is a platform that allows you to raise funds for your ventures free of charge. Business Insider has called AngelList the “Match.com for investors and startups”. They basically match entrepreneurs with accredited investors. You can create your companies profile on the website and get started.
Along with helping to raise funds for startups, AngelList also helps you with incorporation, banking and equity management.
3. Y Combinator
Y Combinator provides funding to early-stage startups. They help startups in the very beginning so that they can reach a level where they are either self-sufficient or are big enough to raise funding on a large scale.
Y Combinator could be a good option for you if you are just starting out. They take a small stake in the company for their investment. Along with that, they also work with the startups on their idea and help them make their businesses big. Y Combinator also helps founders deal with investors and acquirers.
4. Startup India Seed Fund Scheme
The Government of India has created a corpus of ₹10,000 crores to promote entrepreneurship in the country. One of the government schemes is called the Startup India Seed Fund Scheme.
Startup India Seed Fund Scheme provides financial assistance to early-stage startups for proof of concept, prototype development, product trials, market-entry, and commercialization. The scheme aims at enabling startups to reach a level where they can seek funding from venture capitalists, angel investors, or seek loans from commercial banks or financial institutions.
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