Startup Lets You Fund Films and Pick up Perks

Published: 09th April 2015 06:02 AM  |   Last Updated: 09th April 2015 06:02 AM   |  A+A-

KOCHI: Yearning for that bit of showbuzz celebhood and profits that may come your way when you play the film producer? A Kerala startup which tested out the state’s first equity crowdfunding model of film production, with the soon-to-be-released ‘Lailaa O Lailaa’, is hoping to change the way movies are financed in the state.

FineCut Entertainments Pvt Ltd, launched by three entrepreneurs with banking background -- Santhosh Kottayi, Bijou Antony and Preeta Nair -- raised part of the money for the ‘Lailaa...’ project as equity investments, for which returns would be paid as dividend.  Though there have been instances where movies have been made from public contribution, the concept of equity crowdfunding, is being tested in the state for the first time, promoters said. Bijou Antony told ‘Express’ that there were around 30 investors when they started off. The number later grew to 105. Unlike traditional crowdfunding, where funds are raised through an online pitch in a dedicated website, FineCut promoters roped in investors through word-of-mouth publicity and social media.

 “Now there is an investment ceiling of `5 lakh per person. As per the plan, the dividend or profit could be shared after three years, depending upon the financial situation and future projects,” Bijou Antony said.

Stay up to date on all the latest Kerala news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

facebook twitter whatsapp