Source – Outlook Business
Anirban Dhar AKA Onir’s film, I Am, has been in the news for the way the filmmaker raised funds. Onir raised over Rs 1 crore through Facebook, winning support from 400 people across 45 cities.
Bollywood studios have been ducking new talent in favour of more established big-ticket names.This has left smaller film-makers little choice but to resort to alternative platforms. Ashvin Kumar, director of Little Terrorist that was nominated for the Oscars, raised $10,000 through crowd funding. This is essentially a collective effort by a network of people to fund entrepreneurial endeavours of an individual. Crowd funding has even attracted the attention of venture capitalists (VC). Springboard Ventures, a start-up VC fund, is launching the popular US-based crowd funding platform, Filminteractor, in India. “This will give film-makers a platform to raise funds for their films,” explains Satish Kataria, MD, Springboard Ventures.
Yogesh Karikurve, CEO, Magus Entertainment, specialises in generating funds from various international markets by roping in funders from across the globe. Recently, he co-producedSerda Dreams, a documentary that described the craze for Bollywood dancing in Germany. “Since it was co-produced, the risk was mitigated,” says Karikurve.This is how it works: if a film-maker looking to raise Rs 1 crore for his project, he gets Rs 10 lakh each from five investors. And Rs 50 lakh from one person, who is then invited to become co-producer. “The co-producer gets a share in the revenue of the film,” says Kataria.