Insurance firm seeks 'crowdfunding' for Mary Kom's sports academy in Manipur

By Bella Jaisinghani

MUMBAI: A private life insurance company is helping sportsperson Mary Kom set up infrastructure for a boxing academy in Manipur through "crowdfunding".

Crowdfunding is the practice of funding a project by raising contributions from a large number of people. In fact film-makers who are short on finance often use online portals or social networks to seek crowd funding.

This particular initiative hopes to raise Rs 10 lakhs for her academy. Edelweiss Tokio Life Insurance, which has supported Mary Kom, will contribute the initial Rs 1 lakh or fill the shortfall. The month-long campaign comes to an end September 21. The firm has also provided her an insurance policy worth Rs 2 crore.

Edelweiss says it supports champions like Mary Kom to seek success at the Olympic Games through its philanthropic arm named Edelgive. It plans to help other sportspersons in future.