Hello and welcome to this tutorial.
In this video, I'm going to introduce you to
the concept of crowdfunding.
Skolafund.com is a crowdfunding platform,
hence, before you submit your application to us
it is important for you to understand
what exactly is crowdfunding.
Let's go over the concept very quickly.
In a nutshell, Crowdfunding is a method of raising funds
where you collect small amounts of money
from a large number of people.
Normally, crowdfunding is done online
on the internet, via crowdfunding platforms,
or crowdfunding websites like Skolafund.com.
To get a better idea of what I've just said,
let me provide you with an example.
Imagine you have a project that you want to do.
Perhaps you wish to help an orphanage,
or whatever it may be.
And to make this project a reality
you need ten thousand ringgit.
Normally, in this case when you need big amount of money
you would need to approach big
big companies or rich individuals to seek
for their sponsorships.
This can be a really tough process because big companies and
rich people are usually hard to reach
and also have to convince.
With crowdfunding, we don't have to depend solely on
the rich individuals and businesses,
you have an alternative way to raise the funds that you need.
Like i said earlier
crowdfunding is about raising small
amounts of money from a large group of people.
Hence, if you need to raise RM10,000
you just need to create a crowdfunding page online
where you can elaborate more
about the project that you wish to do
and the funds that you need.
After creating the page, you promote the pitch URL
or the link via social media,
spread it your families and friends and you try to
convince them to contribute any amount at all.
It can be as low as one ringgit,
to your crowdfunding campaign.
So, to raise RM10,000
you need to get 10,000 people to give one ringgit
or 1,000 people to give ten ringgit and so on.
All of these would add up to
RM10,000 - the sum of money that you need.
That is what crowdfunding is about.
it's about convincing large group of people
or many people,
to give small amounts of money - whatever that wish to
give you or wish to support you
for your cause of project via that webpage
that you created.
Hope that is clear and direct.
Hope you understand the concept of crowdfunding better now,
if you don't know it previously.
Now that you understand the concept of crowdfunding,
in the next video, we are going to share with you
about Skolafund
and how it works.
and how can you fundraise your scholarships via the platform.
If there's anything that you don't understand from this video
You can simply drop us an email or you can drop us a message
via social media with your questions,
and we'll be more than happy to answer them.
Thank you very much and we'll see you in the next video.
For more infomation >> India's role in UN peace keeping operations is important Narendra Modi said in Mann Ki Baat - Duration: 3:09. 
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