As a crowdfunding India platform, we at Impact Guru have come to recognize the value of collaboration and teamwork, specifically between nonprofits and startups. Strategic alliances have benefits that go way beyond their monetary value. These include strategic communications, larger audiences, credibility, and brand image. Startups and young entrepreneurs today, are driven by their age and their knowledge of the millennial generation, i.e the influencers, and their relationship with philanthropy. This biggest example being the trend of doing charity through crowdfunding India campaigns. This article will explore the benefits of collaborating with nonprofits
Entrepreneurs are potential donors
Startups are a solid partnership for a nonprofit because of the funds available to them. Entrepreneurs make for great potential donors for your NPO. Funds can be made available for branding activities such as advertising, public relations, social media, and other platforms for communication. Such resources can be shared by teaming up with them.
New innovative ideas
Startups bring fresh ideas to the table. Since majority of the startups in our country are youth based, the ideas that are generated come from the influencers of the larger population. In fact, crowdfunding India platforms are seeing a lot of social entrepreneurs whose innovative ideas are not only profitable tot hem, but also to society.
Loyal user/customer base
A non-profit can collaborate with a start-up to reach out to the network of the start-up and convert them into a stable donor base, using effective and targeted communication. Most startups today take advantage of a community that is narrowing down everyday due to social media. For instance, there are Facebook groups dedicated to communicating the innovations of startups. So collaboration with a start-up, gives a non-profit, exclusive access to a community that is driving change. Crowdfunding India platforms too, are heavily reliant on social media. So imagine the potential of a collaborative campaign simply through Social media virality.
A chance to grow with them
While a startup may be small in the beginning, everyone aims to expand their business. They usually chalk out detailed growth plans that can take their organization from regional, to national, to international standards. When you are in the shadow of a company with aggressive expansion plans, you have a great opportunity to grow with them.
Collaboration between nonprofits and start-ups is a symbiotic relationship that benefits both. While startups enhance their overall goodwill by engaging in CSR, nonprofits gain a lot by embracing their overall dynamism, and leveraging their fast-expanding social and geographical reach. By attaching itself with a credible start-up, a nonprofit can always gain that extra boost of corporate legitimacy, thus becoming more attractive to donors.
For a non-profit collaboration with a start-up may seem as a risky proposition in the beginning, as they do not have an established name in the market. However, one cannot ignore the fact that these young startups with fresh ideas are the most driven, and have a better understanding of the youth’s relationship with philanthropy.