Are you tired of having your creative ventures shot down due to insufficient money? Then you need to head over to Wishberry and raise funds for your projects. This crowdfunding website is doubly beneficial as people who fund projects also receive exclusive project-based rewards.
“The only platform that accepts innovative projects across 9 different creative categories for crowdfunding is now expanding to include film finance services, too”
Priyanka Agarwal and Anshulika Dubey are the brains behind this platform. Having started back in 2009, within two years, this bridal registry website was converted into a charity fundraising platform. In 2012, the two women were still trying to figure out whether they wanted to stick to charity fundraising or creative crowdfunding. Finally, the Wishberry of today was born.
From Films to Comics, Dance, Photography, Theatre and more, Wishberry offers a platform for people to raise the funds they need to give direction to their ideas. Given that music and movies occupy a major space in the Indian scene; these have gathered 60 percent of the overall funding on Wishberry. Since 2012, the company has helped around 400 projects and has raised about Rs. 11.6 crores.
This platform does not make it hard for aspiring entrepreneurs to fulfill their dreams. Charging a meagre Rs. 3500 as consultation charges as a one time fee, the company, then keeps a 10% commission on the money obtained by successful campaigners. They run with a very straightforward policy which states that if a person fails to raise the amount he needs by the deadline given, all the money goes back to the backers and nothing is kept by the company. It is only when the project is able to achieve its goal and raise the money needed that a 10% commission is cut out from there. Finding backers is no longer difficult on a platform like Wishberry as backer testimonials reveal that there are a lot of people out there who want to put their money into something new and innovative, something that can prove to be a game-changer.
The most important question however, is what makes Wishberry such an appealing platform for young entrepreneurs? According to the stats, this platform has a proven 70% success rate which rates it as the country’s most successful creative crowdfunding website.
A very important reason for this success rate is the consultation services the platform provides, each project gets their own creative strategist who helps them with crafting the right appeal video, marketing plan and press outreach. Along with that, the platform also provides diverse payment options like cheque picks ups with the usual online payment services.
It was recently announced that Wishberry is now making an entry into the film financing sector and expanding their services. The new category will help bring on board high networth individuals with the intention to invest in low budget cinema for a profit. Currently in pilot mode, the film investment model will be launched as a full-service platform by mid-2018 even as the firm will continue to provide its kickstarter-style rewards-based crowdfunding platform to creative projects as well. Wishberry kick-started its film investment services by raising Rs. 2.65 crores for 3 feature films: ‘Chuskit’, a poignant but lively tale of a Ladakhi paraplegic girl who is battling her condition to go to school; ‘1 Missed Call’ a Marathi film set in the 90s that is a satirical tale of a village in India that witnesses its first mobile phone before it even gets electricity; and ‘Chippa’ a Hindi ‘coming of age’ film starring child actor Sunny Pawar of the Oscar-winning ‘Lion’ fame as the main lead. The budgets of these films are between Rs. 1-4 crores and Wishberry has mobilized more than half of their budgets by raising funds from HNIs.
Priyanka Agarwal, Co-founder & CEO of Wishberry comments on the reason behind this expansion, “Over the top (OTT) platforms like Netflix, Amazon and Hotstar have changed the game for low-budget cinema. Such films do not star big celebrities who inflate budgets. Hence such films can break-even and even turn a profit by tapping into several new revenue streams in addition to box office. Such streams include digital distribution, cable & satellite, international sales, in-flight entertainment, etc. Hence, we believe that low-budget films present a lucrative investment opportunity for HNIs as they can earn above market returns over shorter periods of time (12-24 months). We hope to educate HNIs about the mechanics of film investing over the next few years and help them adopt a portfolio approach while investing in low-budget cinema to make use of this opportunity.”
Anshulika Dubey, Co-founder & COO of Wishberry further elaborates on their curation strategy, “We will strictly curate films within the Rs.1-4 crore budget range. Our main focus is on regional films that have a good box-office potential as well as films that have universal stories and hence are relevant to international markets and digital distribution platforms. Wishberry is focused on pushing out compelling stories over everything else and the 3 films that we have kick-started our new model with are great examples of the quality of films we want to choose.”
Wishberry aims to discover and empower creative and innovative ideas in India. By bringing passionate people together and giving them the platform they deserve, this crowdfunding website will go a long way in helping people fulfill their dreams and perhaps, even make the world a better place.