THE FIGHT : Raising funds

June 12, 2022

THE FIGHT : Raising funds

"Money is the factor that converts dreams to realities"

Have you been wondering, how much the car costs? What's the manufacturing expense? Where do we get required financial help from? Do we pay out on our personal expenses? Is college helping us with funding? Do we take donations? If yes how? Who handles the finances? How do we make sure that each penny is invested for a better cause? What are the different ways we raise funds from? What do we offer our sponsors?

Each of the questions are answered below!

From buying nuts and bolts to machining and manufacturing our custom designed components we constantly require funds. Our ideas and vision stands consistent because of the generous funds we receive from humble and passionate people from all around the world!

How much the car costs?

It largely depends on the features enabled in the car version. For our current vehicle 3.0 the selling cost is of 5 lakhs only .

What's the manufacturing expense?

For the recent vehicle 3.0 it's 4 lakhs. The manufacturing cost for 3.0 includes the cost of outsourced components like batteries, motors and other electrical components, premanufactured and custom designed components, it's material and the machining, along with the technical and non technical expenses invested at the time of manufacturing.

Where do we get financial help from?

We reach out to people willing to contribute for a noble cause of promoting clean energy, Along with this, we approach sponsors who could support us financially. If not financially then any form of donation/service is also highly appreciated. Eg: cost effective machining, providing us with cost effective power tools and fasteners, helping us reach out to interested people by sharing contacts, etc.

Do we get any financial assistance from college?

Yes! Surely we do. But alike us there are many teams in college whom the college funds. Due to splitting of funds among many teams and sky high inflation growing each day, funds assisted by college aren't enough. Thus reaching out to sponsors is our next step. Yet the college authorities give their best to incorporate any form of help needed to the team. A great support in all times indeed.

Do we pay out on our personal expenses?

No! We don't! It's a team of students who are passionate to build something different. If any student willingly comes up to assist the team financially, they are always welcomed! But it isn't any compulsion to pay any money to the team to be a part of it. We want people with dreams, money would follow up!

Do we take donations?

Yes we do! You can always donate us via milaap fundraisers. Click here to donate or G pay at 8905930099 to Jemit Pinal Shah (finance head)

Who handles the finances?

We have a special post alloted for this task. The finance head. The head makes sure all the accounting of money is done right, payments are done and received safely and keeps a track of all the transactions made.

How do we make sure that each Penny is invested for a better cause?

A good question! We keep all the bills receipts and invoices aligned for each payment and transaction made. Along with the date, day, money donated by, money utilised and stuff purchased. We maintain an Excell sheet with minute details of where the money you donated / sponsored is being used. We give live updates to our supporters and sponsors for where and how their money is being utilised.

What are the different ways we raise funds from?

1) direct financial assistance from companies, NGO's etc.

2) Monetary help from college.

3) Team contribution ( not a compulsion).

4) Fundraisers and Team organized Workshops.

What do we offer our sponsors?

From advertising them on national and Asian level events, we promote them via media coverage, newspapers articles, social media, blogs, youtube videos, jerseys, logos on banners, hoardings and cars and much more!!!!

Our recent sponsors are

1) Angel Auto

2)Fledon

3)Panam Engineers

4) Bassein catholic bank

6) Harness techniques

7)C2M industries

8)Rotamec Engineers

9)Apex Yamaha

10)Jijau

11)Juice lounge

12)Precision Instruments