DesiredWings: A Crowdfunding Platform Allows People to Fund Money to Their Favourite Project
DesiredWings is a tech enabled platform supporting aspirations, dreams and desires, creating an ecosystem that is willing to nominate and create crowdfunding projects. A crowdfunding platform where people would come forward to donate money to their favourite project in order to fulfil desires of an aspiring Indian in exchange for a unique reward, thereby getting a lot of people to contribute a small amount of money to make a living, a dream come true.
BWDisrupt Team Member Met With Shabir Momin, DesiredWings’ Co-Founder
What is the exact scenario of Crowdfunding in India. What is the industry size currently and how is it growing?
While CrowdFunding is just about getting started in India market, it is quite established in the Western world. Ideas and Entrepreneurs are already making business models which are CrowdFunding based in the western world, while India is yet to get there. We see a huge gap that can be filled up by CF for the segment which are pre money, pre revenue, idea implementation stage, market validation and not big enough to reach out to structured investment. The beauty is this is a non Equity transaction where people (crowd) come together who believe in the project to support it and make it a success with the strength of many. We have seen many such ventures who have become large size companies over the period which had got started with a CF. CF in general is sector agnostic and we have seen people/projects raising funds for Health Care support, Charity, social cause to Innovation, research, production of existence product which is already at POC stage in segments like robotics, media tech, Virtual Reality, Augmented Reality, sports tech, medical tech, cloud tech, optimisation tech, productivity tech to solution and services for day today use products and services to high end communication systems. the list is actually never ending, this is a method which supports everyone and all who have few key ingredients like Passion, believe in their idea, persistence to see it through, and a good game plan of putting it together irrespective of industry or segment. The world magically comes together to help. India and Indians specially have no end to ideas, entrepreneurship, and we are built to fight by birth and nature. We believe given the gap between structured investment and micro investment (non equity) we have a great we can achieve in this market while the platform is global.
Why was DesiredWings founded?
It was founded with the core goal of bridging the gap of Startups and Entrepreneurs focusing on their ideas and working with us to get the help of the masses to validate their ideas and also generate funds to execute and grow the business. For a startup or Entrepreneur it’s tough to do both at the same time while both are key requirements or success.
What makes DesiredWings different from other crowdfunding portals?
Other than the core remaining the same as all CF platform has we have few great and unique features, and few coming soon which would be unique globally, these will change the dimensions of the business and make it a more collaborative environment them what has existed so far globally. We ourselves are first generation Entrepreneurs and have seen though the journey a startup takes to get to see the light of the day, We believe we understand the gap and what it takes to bridge them is what makes us different.
Do you have specific sectors which you raise funds for on your platform?
We are an open platform which caters to bridge this gap and not any sector or industry specific.
Desired Wings is a startup itself, what is the profile of people you have on board, in your core team to help realise your brand philosophy?
We are a team of four entrepreneurs who share a common vision of helping people with purpose and passion. I have been serial entrepreneur and have cofounded many companies in the digital space namely ZengaTV, One Digital Entertainment and One Axcess to name a few.
Mohammed Sirajuddin understands startup space well, has been key member of Startup Leadership Program in Delhi and is building the projects pipeline for us. He has also co founded 7Miles, a Sports Management Company, earlier.
Vikas Sharma who has co founded 7Miles, a Sports Management company has vast experience in Marketing & Media Alliances and he has been able to develop engagement in past endeavours and knows how this space works.
Varun has previously worked with some of the leading companies in the area of innovation, looks after Technology Development. He also has co-authored consultation and policy paper in the field of innovation and technology.
What is the biggest challenge of growing a business?
It takes a lot of variables to fall in place to achieve success, we believe with this platform available to start-ups and Enterprises it will help them ease out in many ways.
What are your marketing plans to standout in the cluttered market like India
Fortunately the market for us is not cluttered yet, we have a very different strategy for India while the strategy for rest of the world is different, I think we are well positioned in the market and we would be able to keep the both project owners and backers engaged.
Tell us your favourite projects which you wish were done at DesiredWings platform
We don’t have favourites as such, but yes if one day a project which gets started on our platform and eventually becomes a billion dollar company will be a moment of achievement for us.
As you told its DIY platform, so how do you classify or get funds for the projects
The beauty is we don’t get funds, it's the power of many which funds and validates the projects, we just facilitates the same. Its for the project owners who are to take the maximum interest we can help and guide them of what works and what doesn’t. If the project is well explained and poisoned the people will follow and support it and there is nothing that can stop it from being successful.
