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.