I have been working in Crowdfunding for a little more than a year and this is what I think.
Crowdfunding is still in its very early stage of development. It has yet to gain critical mass adoption. People have yet to understand the benefits of contributing to a project via a crowdfunding platform.
Running a successful crowdfunding website clearly requires a huge market with a sizable number of early adopters who are comfortable with supporting such campaigns.
While the adoption rate is an issue, the gov policy for crowdfunding is very unclear which hinders the progress of crowdfunding.
In our recent successful crowdfunding campaign #ManjushreeTrail , I realized that more than 53% of the contribution was cash pickup + bank deposit, 41% was esewa, 5% was sct npay and a very small percentage came from ThamelRemit. This shows that a lot of people have yet to adopt epayments.
I also kind of believe that the local Nepali market is too small but if we can have an international payment gateway like stripe and PayPal, we can penetrate the market beyond Nepal.
The number of people who start a creative project locally is very small. This gets me thinking if maybe creative project is not what local crowdfunding platform should be looking for.
As you can see, it will still take another 5 6 years to have an environment for crowdfunding to thrive in Nepal.
Wanna talk abt crowdfunding? Feel free to reach me.