THE CONTEXT

While education is a fundamental right it remains a distant dream for many children in India. Families that live in extreme poverty often school as an impossible cost. Even public school carries costs, including books uniform, and transportation. Parents that have not experienced the benefits that come along with education such as an increase in earnings and quality of life don't know what they are missing by pulling a child out of school to work instead. This is why it is a cycle. Children who grow up without education are less likely to send their children to school.

THE SOLUTION

The Vidya Daan scholarship funds the fees for an entire year and is awarded to students in Grades 11 and 12. The parents of these students are farmers, maids, daily wage labourers, and auto drivers. The scholarship will help them build careers and get them out of the vicious cycle of poverty that has plagued their families for generations.

JUST INR 18000 WILL EDUCATE A CHILD FOR AN ENTIRE YEAR.

ABOUT THE PROGRAMME

THE IMPACT 

Let's educate more bright students like Manjuntha and Ramba and transform their lives.  Join me on this journey.

ABOUT ME AND THIS CAMPAIGN

My name is SAI SARANYA VY I am15 years old and in Grade 9 at the DPS Bangalore North.

I have undertaken this campaign because the gift of education is something that is important to any student. The children that I would like to support and give a scholarship to are doing very well at school, despite adverse economic circumstances and conditions at home. Many of them have parents who are daily wage labourers, house help and need our assistance. The fact that raising just INR 1500 can support a bright student for an entire month is something that I am very excited about.

I aim to raise as much as possible to help these students. For example INR 9000 will support them for 6 months, INR 18000 for an entire year etc. The more we raise the bigger the impact.

Getting a good education will definitely transform their lives and the lives of their families. Many of their parents cannot even read or write. Please support my campaign and let us together bring light into the lives of these fellow students. I promise to help the people in the need. Crowdfunding is the practice of funding a project or venture by raising money from a large number of people, typically via the internet.Crowdfunding is a form of crowdsourcing and alternative finance. In 2015, over US$34 billion was raised worldwide by crowdfunding.

Although similar concepts can also be executed through mail-order subscriptions, benefit events, and other methods, the term crowdfunding refers to internet-mediated registries. This modern crowdfunding model is generally based on three types of actors – the project initiator who proposes the idea or project to be funded, individuals or groups who support the idea, and a moderating organization (the "platform") that brings the parties together to launch the idea.

Crowdfunding has been used to fund a wide range of for-profit, entrepreneurial ventures such as artistic and creative projects,[6] medical expenses, travel, and community-oriented social entrepreneurship projects. Although crowdfunding has been suggested to be highly linked to sustainability, empirical validation has shown that sustainability plays only a fractional role in crowdfunding.[8] Its use has also been criticized for funding quackery, especially costly and fraudulent cancer treatments Crowdfunding has a long history with many roots. Books have been crowdfunded for centuries; authors and publishers would advertise book projects in praenumeration or subscription schemes. The book would be written and published if enough subscribers signaled their readiness to buy the book once it was out. The subscription business model is not exactly crowdfunding, since the actual flow of money only begins with the arrival of the product. However, the list of subscribers has the power to create the necessary confidence among investors that is needed to risk the publication.

War bonds are theoretically a form of crowdfunding military conflicts. London's mercantile community saved the Bank of England in the 1730s when customers demanded their pounds to be converted into gold – they supported the currency until confidence in the pound was restored, thus crowdfunding their own money. A clearer case of modern crowdfunding is Auguste Comte's scheme to issue notes for the public support of his further work as a philosopher. The "Première Circulaire Annuelle adressée par l'auteur du Système de Philosophie Positive" was published on March 14, 1850, and several of these notes, blank and with sums have survived.[15] The cooperative movement of the 19th and 20th centuries is a broader precursor. It generated collective groups, such as community or interest-based groups, pooling subscribed funds to develop new concepts, products, and means of distribution and production, particularly in rural areas of Western Europe and North America. In 1885, when government sources failed to provide funding to build a monumental base for the Statue of Liberty, a newspaper-led campaign attracted small donations from 160,000 donors.The inputs of the individuals in the crowd trigger the crowdfunding process and influence the ultimate value of the offerings or outcomes of the process. Individuals act as agents of the offering, selecting, and promoting of the projects in which they believe. They sometimes play a donor role oriented towards providing help on social projects. In some cases, they become shareholders and contribute to the development and growth of the offering. Individuals disseminate information about projects they support in their online communities, generating further support (promoters).The motivation for consumer participation stems from the feeling of being at least partly responsible for the success of others people's initiatives (desire for patronage), striving to be a part of a communal social initiative (desire for social participation), and seeking a payoff from monetary contributions (desire for investment).[5] Additionally, individuals participate in crowdfunding to see new products before the public. Early access often allows funders to participate more directly in the development of the product. Crowdfunding is also particularly attractive to funders who are family and friends of a creator. It helps to mediate the terms of their financial agreement and manage each group's expectations for the project.An individual who takes part in crowdfunding initiatives tends to have several distinct traits – innovative orientation, which stimulates the desire to try new modes of interacting with firms and other consumers; social identification with the content, cause, or project selected for funding, which sparks the desire to be a part of the initiative; and (monetary) exploitation, which motivates the individual to participate by expecting a payoff.[5] Crowdfunding platforms are motivated to generate income by drawing worthwhile projects and generous funders. These sites also seek widespread public attention for their projects and platform.[16]

Crowdfunding websites helped companies and individuals worldwide raise US$89 million from members of the public in 2010, $1.47 billion in 2011, and $2.66 billion in 2012 — $1.6 billion of the 2012 amount was raised in North America.[56]

Crowdfunding is expected to reach US$1 trillion in 2025.[57] A May 2014 report, released by the United Kingdom-based The Crowdfunding Centre and titled "The State of the Crowdfunding Nation", presented data showing that during March 2014, more than US$60,000 were raised on an hourly basis via global crowdfunding initiatives. Also during this period, 442 crowdfunding campaigns were launched globally on a daily basis.[31]

The future growth potential of crowdfunding platforms also depends on their financing volume with venture capital. Between January 2017 and April 2020 globally 99 venture capital financing rounds for crowdfunding platforms took place with more than half a billion USD of total money raised. The median amount per venture capital financing rounds for crowdfunding was $5 million in the U.S. and $1.5 million in Europe between January 2017 and April 2020

MAP

ABOUT OUR PARTNER

Rotary Bangalore Indiranagar is a 140-member club, with members from diverse communities and regions. It's engaged in various community service projects which include projects around health, infrastructure, water conservation, and education. It's a model Rotary Club and we are very proud of the partners we have and the impact we have made. 

Some of their initiatives include:

1) Water Wheel initiative.

2) Karunashraya - Hospice for advanced cancer patients.

3) Pediatric Heart surgeries: We do over 300 annually.

4) Eye Care Hospitals at Kolar & Tumkur: Over 5000 cataract surgeries are done annually.

5) We have 8 adopted schools.

6) BGMS - We support the stay and school of 300 underprivileged children.

7) Vocational Training in Computer course, Retail, and Banking to deserving candidates from financially poor homes.

8) Pediatric Cancer Treatment at Kidwai Hospital.

9) Vidya Daan - Scholarships to 500 needy students annually.

10) Many Anganwadis restored.

11) Lake revival schemes.

Our trust is exempt under the 80G rule under the IT act.

FEEDBACK THAT YOU GET 

To ensure that there is complete transparency, the team at ROTARY BANGALORE INDIRANAGAR will post feedback about 2-3 months after the campaign gets over telling us which student has got the scholarship. This takes some time as they need to screen candidates and allocate them to me. The details will then be posted in the UPDATES section of my campaign and will be in a format like the one below. As soon as I post an update the platform will send an EMAIL alert to you. Click on the link and you can read about which child has benefitted. That's transparent right?

Sharing an example of the FEEDBACK FORMAT that we will be giving to all my funders.

TAX BENEFITS

Funding for this campaign is eligible for tax breaks as Rotary Bangalore Indiranagar is registered and you can avail of benefits under section 80G of the IT act.