CHRIST (DEEMED TO BE UNIVERSITY)

SCHOOL OF BUSINESS AND MANAGEMENT

BANGALORE BANNERGHATTA ROAD CAMPUS
HULIMAVU, BENGALURU 560076
(BBA H, BBA (F&IB), BBAT and MTTM)

The School of Business and Management at CHRIST Deemed to be University is fully

committed towards excellence in research through promoting quality processes in the conduct
of research activities undertaken by the students/researchers/scholars of the school. It expects
its students/researchers/scholars to abide by the standards of University’s expectations of
good practice in research by taking all responsible steps towards ethical conduct of research
in terms of human participation and data management. To develop the research culture
among the students and facilitate them to take part in the process of knowledge creation, the
course structure of all the BBA programs consists of a course titled ‘Research Project’ based
on the research work. The following are the general guidelines to be adhered for the course
‘Research Project’

GUIDELINES ON RESEARCH PROJECT

FOR BBAH, BBAFIB AND BBAT PROGRAMMES

1. Every student in the third year of the BBA Programme (BBAH BBA(F&IB) and BBAT)
is required to undertake a research project under the guidance of an identified/allotted
faculty guide.
2. Satisfactory completion of research project and obtaining minimum marks required on
the research project are an essential requisite for completing BBA Programme.
3. The guides for the students will be allotted by the head of the department/research
committee/research project committee and the same will be communicated to the students
prior to the commencement of the research project. (Probably at end of July 2024)
4. Once the guide is allotted, students are required to meet the guide at least as per the
schedule found in their regular time table, for which the attendance shall be marked.
5. In addition to the regular classes scheduled in the time table, the students should be in
constant touch with their respective guides for discussion on the research work for
the smooth and successful completion of their research project.
6. The students shall meet the guide for such discussion mentioned in point 5 based on the
mutually convenient time of the student and the faculty guide.
7. Students are advised to carry out their Research Project in any one of the functional
areas of business and management namely, Finance, Marketing and Human Resource.
Research Project can also be carried out in Tourism, International Business etc., or any
other area approved by the faculty guide.
8. The Research Project must be a study on live business/management problem or an
issue. This can be in the nature of desk study or a field study.
9. The Research Project undertaken by the student must be selective and intensive study on
a particular topic pertaining to any one of the functional areas of business/management
mentioned above.
10. The live management/business problem or an issue chosen for the Research Project by the
student may relate to an organization or general in nature.
11. If the student intends to do the Research Project in any business organization, the
permission letter from such organization should be submitted to the respective faulty
guide before the commencement of the Research Project.
12. If it is the freelance research project, prior approval from the faculty guide and the
academic coordinator/Head of the Department is mandatory.
13. The topic for the research project should be selected by the candidate in consultation
with the faculty guide/supervisor and company guide if applicable.
14. The title thus chosen should not be the title of overdone. It means that it should have not
been done earlier by other researchers/scholars or any other students. The title should be
very clearly and precisely stated.
15. On finalizing the title of research project, the students should prepare a research
proposal/synopsis of the research project (including review of literature - minimum
10) under the guidance of respective faculty guides. Format of the research proposal is
attached in annexure 2.
16. The student should present the title chosen for the research project and the
proposal/synopsis prepared on such title to the panel of experts (Two Members)
constituted by the Research Project Committee/Academic Coordinator /Head of the
Department in order to avoid the overlapping of the topics and to ensure the quality of the
proposed research project.
17. The comments given by the panel of experts during the presentation of
proposal/synopsis of the research project shall be discussed with the faculty guide and the
 students shall decide upon such comments for modification if needed only on the final
approval of the faculty guide.
18. The concerned faculty guide’s approval for the topic of the research project is
mandatory before the student starts working on it.
19. In order to carry out the research project, the students must strictly follow the time
schedule prepared by research project committee for different stages of the research
project. (Refer annexure 1.)
20. On completion of the research project and on the preparation of rough draft, before
finalizing the report, the students are required to present their work of the research
project to the panel of experts constituted by the research / research project committee /
academic coordinator / Head of the Department.
21. On the completion of research project, the student is required to submit a dissertation
report) report on the Research Project to the academic coordinator/research Project
committee / Head of the Department through the faculty guide/mentor on or before the
stipulated date.
22. The purpose of research project report/dissertation is to communicate the findings of
the project/study undertaken on a particular topic by student in a systematic way.
23. The research project report/dissertation must not be less than 60 pages excluding cover
page, declaration, certificate from guide, certificate from the head of the department,
acknowledgement, table of content, list of tables, list of figures/charts and annexure if
any.
24. The dissertation shall be presented in a number of chapters, starting with Introduction
and ending with Summary and Conclusions. Each of the other chapters will have precise
title reflecting the contents of the chapter. A chapter can be subdivided into sections, sub-
sections and sub-sub-section so as to present the content discretely and with due
emphasis.
25. Research Project Report/Dissertation must be printed in standard A4 size bond paper
with a font size of 14 for headings, 13 for side headings if any and 12 for the
contents/running matters, in Times News Roman font style with line spacing of 1.5.
26. The paragraphs/contents in the running matter in the project research report/dissertation
should be of justified alignment with zero spacing before and after the lines.
27. Page numbering in the text of the dissertation shall be Hindu-Arabic numerals at the
center of the footer.
28. But when the candidate opts for header style the page number shall appear at the right and
left top corner for the odd and even number pages, respectively. Page number ‘1’ for the
first page of the Introduction chapter shall not appear in print, only the second page will
bear the number ‘2’.
29. Pagination for pages before the Introduction chapter shall be in lower case Roman
numerals, e.g., ‘iv’.
30. The printed sheets shall have the following margins:
Top margin: 1” (1 inch)
Bottom margin: 1”
Left margin: 1.5”
Right margin; 1”
31. The text shall be printed employing LaserJet or Inkjet printer, the text having been
processed using a standard text processor.
32. The research project report/dissertation must be printed on one side of the page only (no
back-to-back printing/double sided).
33. The Research Project Report/Dissertation shall be soft bound in Light Blue color leather
or rexin cover. It should be submitted in the soft bound form only.
34. Project research report/dissertation should exhibit originality. Copying of other’s work is
strictly prohibited. Academic integrity needs to be maintained by avoiding plagiarism.
35. But one can refer previous good research project reports/dissertation to gain an
insight or to understand which are current and needs immediate attention of researchers.
36. In order to ensure the academic integrity, plagiarism check/ similarity index check will be
exercised. And a copy of the similarity index must be attached in the research project
report/dissertation just after the page of declaration of student.
37. The report with more than 10% of similarity index will lead to rejection of the
research project report.
38. The contents page must show the page numbers against the topics / chapters. These must
be serially numbered starting only from Introduction (i.e., from Chapter 1).
39. There shall be two certificates from University (As per standard format). One is by
Head of the Department and another one by faculty guide. (Refer annexure 3).
40. The students must submit two (identical) copies of project reports (Student copy and
University copy) to the faculty guide on or before the prescribed date.
41. Student shall submit one additional copy of the research project report/dissertation to the
faculty guide for his/her future reference if he/she demands to do so.
42. Faculty guide will return, prior to the viva voce examination student’s copy of the
research project report (with original company certificate) submitted by the student on the
final approval of the project report by faculty guide and Academic Coordinator.
43. The original certificates issued by Company (If the project is done in a company),
Academic Coordinator, and Faculty Guide must be included only in one project report
and photocopy of them shall be used for including in the another copy of the
report/dissertation.
44. A complete and comprehensive list of all abbreviations, notations and nomenclature
including Greek alphabets with subscripts and superscripts shall be provided after the list
of tables & figures. (As far as possible generally accepted symbols and notation should be
used.)
45. A chapter can be divided into Sections, Sub-sections and Sub-sub-sections so as to
present different concepts separately. Sections and sub-sections can be numbered using
decimal points, e.g., 2.2 for the second Section in Chapter 2 and 2.3.4 for the fourth Sub-
section in third Section of Chapter 2. Chapters, Sections and Sub-Sections shall be
included in the Contents with page numbers flushed to the right. Further subsections need
not be numbered or included in the contents.
46. The following shall be the order in the project report. A sample of all below chapters,
bibliography and annexure can be found in Annexure 3)
 Cover page, [As per format enclosed],
 Inner Cover page, [Same as above],
 Dedication (if any)
 Declaration [signed by student],
 Certificate of similarity index [Generated]
 Certificate [by Company],
 Certificate [by faculty guide, in standard format],
 Certificate [by Academic Coordinator, in standard format],
 Acknowledgement [by student], and
 Table of Contents
 List of Tables
 List of Figures/Graphs/Charts
 List of abbreviations (if any)
 Chapter 1
 Chapter 2
  Chapter 3
 Chapter 4
 Chapter 5
 Bibliography (as per APA 6th edition)
 Annexure
47. There shall be no page numbers for the front/preliminary pages and page number
should start only from chapter 1.
48. If the candidate so desires (s)he may dedicate his/her dissertation, which statement shall
follow the title page. If included, this shall form the page 1 of the auxiliary sheets/front
pages but shall not have page number.
49. All tables in the project report shall be serially numbered according to the chapter. For
example, the first table in the second chapter should have the number as 2.1 and the
seventh table in the fourth chapter should be numbered as 4.7 and so on.
50. The table of contents must minimum cover the following items.
Executive Summary
Chapter 1 Introduction
Chapter 2 Review of literature
Chapter 3 Design of the study
Chapter 4 Analysis and Interpretation
Chapter 5 Summary of findings, suggestions and conclusion
Bibliography
Annexure 1
Annexure 2
Chapter – 1
Introduction
A) Introduction to Topic
 The Introduction chapter should broadly cover the following topics……
o Introduction to the functional areas
(i.e., Finance/Marketing/Human Resources/International Business etc.,)
o The relationship between of one functional area to other functional areas of
management
o Importance of the topic from macro and micro perspective and area chosen for
study
o Study of the organization with reference to the topic (if Necessary)
B) Industry Profile
  The Industry and Company Profile chapter should broadly cover the following topics
 Introduction to Industry/area of business
 Total size/annual turnover of the industry
 Key players in the industry & their market share. [Amount of turn over]. Annual
Industry Growth Rate, Government policies/regulations influencing the industry (with
reference to foreign competition or FDI limit).
C) Company profile
 A brief history of the company/business group.
 Year of establishment. initial investment, founders profile, place(s) of business ,
nature of initial business(es) of the group , & past business performance
 Present position of the company/business group in terms of total investment,
type/nature of businesses, total turnover, total number of employees, product profile,
competitor profile, rate of growth of investment, sales, profits, clients or customers,
present product/segment wise market share of the company, subsidiary companies [if
any] under the same management, collaboration/joint ventures [if any],performance
of it’s stocks for the past few years, export earnings[if exporting], and
certifications/achievements/awards won[if any] and SWOT analysis.
Chapter – 2
Review of Literature
The literature review is a body of text that aims to review the critical points of current
knowledge on a particular topic. Literature reviews are secondary sources, and as such, do
not report any new or original experimental work. Literature review seeks to describe,
summarize, evaluate, clarify and/or integrate the content of primary reports". Students are
required to review at least 20 latest articles from refereed journals on their topics for the
research work and write the list of these articles in 100 words about each article in their own
words. References are to be written in APA 6th edition.
Chapter 3
Research Methodology
The research design chapter must contain the information under the following headings.
1. Statement of the problem
2. Objectives of the study
3. Scope of the study
4. Methodology of the study
5. Hypothesis (If any)
 6. Population and sampling techniques
7. Data collection method
8. Statistical tools for analysis
9. Limitations of the study
10. Scheme of chapterization
Chapter 4
Analysis and Interpretation
This chapter should cover the various analysis of data collected for the study and the results
of such analysis in table and graphs with proper interpretation and observations of the study
conducted. Following is the example of presenting a table and chart in the report.

TABLE 4.1
FORMS OF BUSINEES ORGANIZATION OF MSMES

Forms of Business Organization Frequency Percentage

Proprietorship 234 79.9

Partnership 52 17.7

LLP 3 1.0

Limited Company 4 1.4

Total 293 100

Source: Primary data

CHART 4.1
FORMS OF BUSINESS ORGANIZATION
 Forms of Business Organization
80%

70%
79.90%
60%
Percentage

50%

40%

30%
17.70%
20%

10% 1.00% 1.40%

0%
Proprietorship Partnership LLP Limited
Forms of Business Organization Company

Chapter 5
Summary of findings suggestions and conclusion
Findings, recommendations and suggestions should be in the form of points each within the
range of 8-12 points.

Bibliography
Bibliography should be in the APA (6th edition) format.
 ANNEXURE
(Format and Order of front pages to be in the
Research Project Report /Dissertation)
A STUDY ON THE PROBLEMS AND PROSPECTS OF EDUCATION
AND HEALTHCARE CROWDFUNDING IN INDIA

DISSERTATION
Submitted to CHRIST (Deemed to be University) in partial
fulfilment of the requirements for the award of the degree of

Bachelor of Business Administration

(Finance and International Business)

By
John Joe Thomas
Reg. No. 2223617

Under the guidance of

Dr. M. Muthu Gopalakrishnan
Associate Professor
School of Business and Management
SCHOOL OF BUSINESS AND MANAGEMENT

CHRIST (DEEMED TO BE UNIVERSITY)

BANGALORE BANNERGHATTA ROAD CAMPUS
BANNERGHATTA ROAD, HULIMAVU
BENGALURU - 76

2024 - 2025
 DECLARATION

I, John Joe Thomas (Reg. No. 2223617), hereby declare that this project report titled “A
Study on the Problems and Prospects of Education and Healthcare Crowdfunding in
India”, submitted to CHRIST (Deemed to be University), Bengaluru in partial fulfilment
of the requirements for the award of the degree of Bachelor of Business Administration
(Finance & International Business) is a record of original work carried out by me during
the academic year 2024-25 under the guidance of Dr. M. Muthu Gopalakrishnan,
Associate Professor, School of Business and Management, CHRIST (Deemed to be
University), Bengaluru has not been previously formed the basis for the award of any
Degree, Diploma or any other similar title of recognition to any candidate of this or any other
University or Institution.

Place: Bengaluru John Joe Thomas

Date: Reg. No. 2223617
PLAGIARISM CERTIFICATE
 CERTIFICATE BY GUIDE

This is to certify that this project report titled “A Study on the Problems and Prospects of
Education and Healthcare Crowdfunding in India”, submitted to CHRIST (Deemed to
be University), Bengaluru in partial fulfilment of the requirements for the award of the
degree of Bachelor of Business Administration (Finance & International Business) is a
record of original work carried out by John Joe Thomas (Reg. No. 2223617) during the
academic year 2024-25 under my guidance and it has not been previously formed the basis
for the award of any Degree, Diploma or any other similar title of recognition to any
candidate of this or any other University or Institution.

Place: Bengaluru Dr. M. Muthu Gopalakrishnan

Date: Associate Professor
School of Business and Management
Christ (Deemed to be University)
Bengaluru
 CERTIFICATE

This is to certify that this project report titled “A Study on the Problems and Prospects of
Education and Healthcare Crowdfunding in India”, submitted to CHRIST (Deemed to
be University), Bengaluru in partial fulfilment of the requirements for the award of the
degree of Bachelor of Business Administration (Finance & International Business) is a
record of original work carried out by John Joe Thomas (Reg. No. 2223617) during the
academic year 2024-25 under the guidance of Dr. M. Muthu Gopalakrishnan, Associate
Professor, School of Business and Management, CHRIST (Deemed to be University),
Bengaluru and it has not been previously formed the basis for the award of any Degree,
Diploma or any other similar title of recognition to any candidate of this or any other
University or Institution.

Place: Bengaluru Dr. Rashmi Rai,

Date: Head of the Department
School of Business and Management
CHRIST (Deemed to be University)
Bengaluru
 ACKNOWLEDGEMENTS

I express my special thanks to Dr. M. Muthu Gopalakrishnan, Associate Professor,

School of Business and Management, CHRIST (Deemed to be University), Bengaluru
for taking time to guide and mentor me from the stage of selecting the topic till the
submission of the research. His expert advice and constant motivation helped me to conduct
the study in a systematic and orderly manner.

I would like to express my deepest gratitude to Impact Guru, Mumbai for giving me the
opportunity to conduct this study on crowdfunding. I would like to thank Ms. Priya Iyer,
Business Development Manager, Impact Guru, Mumbai, for taking the time and effort to
support and guide me in carrying out this study.

I would also like to thank Dr. Fr Joseph C C, Vice Chancellor, CHRIST (Deemed to be
University), Bengaluru, for having provided an opportunity to carry out research as a part of
my curriculum of Bachelor of Business Administration (Finance and International Business).

I would also like to thank Dr. Fr. Varghese K.J, The Campus Director CHRIST (Deemed
to be University), Bangalore Bannerghatta Road Campus, Bengaluru, for having
provided an opportunity to carry out research as a part of my curriculum of Bachelor of
Business Administration (Finance and International Business).

I would also like to thank Dr. Jyothi Kumar, Dean, CHRIST (Deemed to be University),
Bangalore Bannerghatta Road Campus, Bengaluru and Dr. John Paul Raj, Associate
Dean, CHRIST (Deemed to be University), Bangalore Bannerghatta Road Campus,
Bengaluru for having provided an opportunity to carry out research as a part of my
curriculum of Bachelor of Business Administration (Finance and International Business).

I would like to convey my gratitude to Dr. Rashmi Rai, Head of the Department, School of
Business and Management, CHRIST (Deemed to be University), Bengaluru for
providing me the opportunity and the support to carry out such research in the area of
finance. This was instrumental in my journey of studying and understanding the concept of
crowdfunding, especially in the education and healthcare sector.

I would like to also sincerely thank all the students, doctors and hospital employees who were
very much instrumental in conducting this research. Their time and valuable conversations
was extremely helpful in providing the required information in order to carry out this study.

Finally, I would like to thank my parents and friends for their constant help and support.
Their motivation and advice was very helpful in enabling me to conduct the research and
bring it to completion.

John Joe Thomas

 CONTENTS

Chapter Title
Page No.
No.
Executive Summary
1. Introduction
2
1.1 Industry Profile
3
1.1.1 Crowdfunding Models
4
1.1.2 Market Size and Growth
7
1.1.3 The Potential of Crowdfunding in Developing World
9
1.1.4 Crowdfunding in India
12
1.2 Profile of Impact Guru
13
1.2.1 History and Journey
13
1.2.2 Impact Guru Team
14
1.2.3 Profile of Founders
2. Literature Review 16

3. Research Methodology
3.1 Statement of Problem 24
3.2 Objectives of the Study 25
3.3 Scope of the Study 25
3.4 Population and Sampling Technique 26
3.5 Data Collection Method 28
3.6 Statistical Tools for Analysis 29
3.7 Limitations of the Study 29
3.8 Scheme of Cauterization 30
4. Data Analysis, Interpretation and Discussion
4.1 Education Crowdfunding 31
4.1.1 Education Status of Students 31
4.1.2 Age of Students 33
4.1.3 Gender of Students 34
4.1.4 General Perception of Students on CF 36
4.1.5 Participation of Students in CF Campaigns 39
4.1.6 Type of Crowdfunding Campaigns 41
4.1.7 Source of Raising Funds 44
4.1.8 Reasons for Not Choosing Crowdfunding 47
4.1.9 Participation in Education Crowdfunding Campaign 50
4.1.10 Reason for Not Contributing to Education
Crowdfunding Campaign 53
 4.1.11 Descriptive Statistics of UG Students 56
4.1.12 Descriptive Statistics of PG Students 59
4.1.13 Correlation 62
4.1.14 Regression 67
4.2 Healthcare Crowdfunding 71
4.3 Discussion 78
4.3.1 Discussion on Education Crowdfunding 78
4.3.2 Discussion on Healthcare Crowdfunding 80
5. Suggestions, Recommendations and Conclusion
5.1 Suggestions and Recommendations 82
5.2 Scope for Future Research 83
5.3 Conclusion 84
Bibliography

Annexure
 List of Tables
Table No. Title Page No.
1.1 Number of Crowdfunding Platforms Around the World 5
1.2 Impact Guru Team Members 13
4.1 Education Status Of Students 32
4.2 Age of Students 33
4.3 Gender of Students 35
4.4 General Perception of Students on CF 36
4.5 Participation of Students in CF Campaigns 39
4.6 Type of Crowdfunding Campaigns 42
4.7 Source of Raising Funds 44
4.8 Reasons for Not Choosing Crowdfunding 47
4.9 Participation in Education Crowdfunding Campaign 51
4.10 Reason for Not Contributing to Education Crowdfunding Campaign 53
4.11 Descriptive Statistics of UG Students 56
4.12 Descriptive Statistics of PG Students 59
4.13 Correlation (UG Students) 62
4.14 Correlation (PG Students) 65
4.15 Model Summary (UG Students) 67
a
4.16 ANOVA (UG Students) 68
4.17 Coefficientsa (UG Students) 68
4.18 Model Summary (PG Students) 69
a
4.19 ANOVA (PG Students) 69
4.20 Coefficientsa (PG Students) 70
4.21 Hospital Details 71
 List of Charts
Chart No. Title Page No.
1.1 Funds Raised (Country wise) 6
1.2 Crowdfunding Platforms in India 10
4.1 Education Status of Students 32
4.2 Age (UG Students) 33
4.3 Age (PG Students) 34
4.4 Gender (UG Students) 35
4.5 Gender (PG Students) 36
4.6 General Perception of Crowdfunding among UG Students 37
4.7 General Perception of Crowdfunding among PG Students 38
4.8 Participation of UG Students in Crowdfunding Campaigns 40
4.9 Participation of PG Students in Crowdfunding Campaigns 41
4.10 Type of Crowdfunding Campaigns (UG Students) 42
4.11 Type of Crowdfunding Campaigns (PG Students) 43
4.12 Source of Raising Funds (UG Students) 45
4.13 Source of Raising Funds (PG Students) 46
4.14 Reasons for not Choosing Crowdfunding (UG Students) 48
4.15 Reasons for not Choosing Crowdfunding (PG Students) 49
4.16 Participation in Education Crowdfunding Campaign (UG Students) 51
4.17 Participation in Education Crowdfunding Campaign (PG Students) 52
Reason for not Contributing to Education Crowdfunding Campaign (UG
4.18 54
Students)
4.19 Reason for not Contributing to Education Crowdfunding Campaign (PG Students) 55

EXECUTIVE SUMMARY
This research project intends to test whether the Efficient Market Hypothesis is valid on the Securities
market of India. To begin with, the paper defines what is Efficient Market Hypothesis and
what does it mean. Following to the introduction to the mentioned area of research, the
literature review on the same is also made available to the readers. For the study, a sample of
15 stocks were taken from all the 15 distinct sectoral indices on the National Stock Exchange
of India. In an attempt to test the efficiency of Indian Securities Market aka the validity of
Efficient Market Hypothesis, various tests were done on the data taken from NSE, starting
from run tests and then z-test. Run test is more reliable as it is a non- parametric test, which is
used to test the randomness of the series. To conclude, it was found in the study that past prices have a
very insignificant impact on the future prices of the security on the Indian Securities Market. Hence, the
Indian Securities Market is a weak form of efficient market.

Keywords: Stock prices, Efficient Market Hypothesis, Market efficiency, Efficient market:
Weak Form, Run test, Autocorrelation test, Breusch Godfrey LM Test, Durbin Watson Test,
Box Pierce Test, Ljung Box Test, p value, Z stat, F stat, Q stat.