Monthly Archives: March 2013

How crowdfunding made this Vancouver production a reality

Three Sisters

A Vancouver restaurant, pre-theatre crowd. A mother and daughter, dining on Middle Eastern food, deep in discussion. Daughter: “Mom, you should direct a production of Chekhov’s Three Sisters. So who can we persuade in town to hire you to do that?” Mother: “Nobody, because Vancouver isn’t doing the classics any more. So forget it. I’m too old. I’m not self-producing any more. I’ve done too many co-ops and I can’t ask these people who earn their living in the theatre to do this for nothing and put up their own money.” Daughter (reluctant, but still enthusiastic): “I’ll produce it. And I know how we can…

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NASA trailer reaches crowdfunding goal, will be shown before ‘Star Trek: Into Darkness’

NASA

“We are the Explorers,” an Indiegogo campaign that aims to create a 30-second trailer about the US Space Program, reached its crowdfunding goal of $33,000 this morning, just five days after launching. Created by the Aerospace Industries Association (AIA) of America, the campaign was inspired by a nearly three-minute video that NASA released last year. The clip, embedded below, gives a brief overview of NASA’s history and its latest developments in spacecraft technology, but federal law prohibits the agency from purchasing advertising time to air it. That will soon change, though, now that AIA — an aerospace trade group not affiliated with NASA — has…

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SEC gives blessing to FundersClub, opens the door for more crowdfunding

Security and Exchange Commission

The SEC just delivered a big gift to the nascent crowdfunding market by announcing that it would not pursue legal action against FundersClub, even though, technically, maybe, it’s breaking the law. FundersClub lets accredited investors put as little as $1,000 into startups, which list themselves on its website. FundersClub looks an awful lot like an investment advisory firm, but it’s not registered as such and thus isn’t making the same kind of disclosures that a normal broker-dealer would. FundersClub argues that it doesn’t actually provide any investment advice and never actually touches the money, merely acting as a middleman between investors and startups that lets…

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A Crowdfunding First for Chinese, and International Athletes

Jacqueline Lai

China’s National Equestrian Championship Gold-Medalist, and Hong Kong international, 22-year-old Jacqueline Lai today successfully completed one of China’s largest crowdfunding campaigns to date on FringeBacker. Hong Kong (PRWEB) March 29, 2013 FringeBacker, the world’s only English-Chinese bilingual crowdfunding platform, today announces the achievement of an historic first, both for Chinese crowdfunding and for international athletes to raise funding. China’s National Equestrian Championship Gold-Medalist, and Hong Kong international, 22-year-old Jacqueline Lai today successfully completed one of China’s largest crowdfunding campaigns to date. This is also probably the world’s largest by an international athlete. Working from her stables in Denmark, Lai’s global fundraising campaign on FringeBacker began…

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For broker/dealers crowdfunding presents new opportunity

Wall Street New York Stock Exchange Building

While start-up owners eagerly await the Securities and Exchange Commission’s regulations for crowdfunding, a handful of broker/dealers are racing to be the first to capi­tal­ize on the phenomenon. An exemption in the Securities Act allows start-ups to conduct a version of crowdfunding today, as long it’s through broker/dealers — companies who buy or sell securities for themselves or customers and who are registered with the SEC. These intermediaries can issue securities to an unlimited number of accredited investors (typically, individuals with a net worth of more than$1 million, or whose income exceeded $200,000 in the past two years). A recent crop of broker/dealers are looking…

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As Crowdfunding Takes Off, SEC Greenlights AngelList’s Investment Platform

The Securities and Exchange Commission is making way for a number of startups and online investment platforms to enable startups to crowdsource investment. Early last week, Y Combinator-backed FundersClub received notice from the SEC that the agency would not pursue action against its crowdfunding platform. But it wasn’t alone: a few days later, AngelList received a similar letter from the SEC. [hat tip to Danielle Morrill] The regulatory response came after AngelList requested its own assurance from the SEC that the agency wouldn’t pursue enforcement action against its investment platform, AngelList Invest. In its letter to the agency, AngelList noted that it was going to…

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Italy Leads The U.S. — In Equity Crowdfunding

Last March 29, Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB), the equivalent of the Securities and Exchange Commission in the US, submitted requests for public commenting on the equity crowdfunding rules currently considered. It seems that Italy will surpass the JOBS Act in the implementation of the first equity crowdfunding law in the world. One of the leading business angels in Milan, Alberto Giusti, commented that this crowdfund equity proposal has some limitations. “The definitions are not fully settled but right now only ‘innovative startups’ can be considered so brick and mortar businesses do not apply,” says Giusti. He adds that firms…

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HealthCare: When Crowdfunding Is A Matter Of Life And Death

healthcare

When Matt Fahey, a cameraman for Deadliest Catch, was diagnosed with colon cancer last November, he didn’t have health insurance. He nonetheless went through with surgery and got stuck with a $51,000 bill. Facing six months of follow-up treatments and a six-figure total cost, bankruptcy seemed almost inevitable. Instead, his cousin, Chuck Horton, a former professional fundraiser-turned-software-entrepreneur, stepped in and set up a Rally.org campaign called “Dumb Ass Cancer” to help pay for Fahey’s treatment. “We wanted something up and running quicker than a traditional fundraiser,” says Horton. “Matt has a lot of friends on Facebook. We have a large extended family. We knew it…

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Capitalism 2.0, The Amazing Promise of Crowd-Funding

The Promise of Crowd-Funding Years ago, when a friend and I were raising money for a technology company we had founded, a venture capitalist told us, ‘We don’t bet on the horse. We bet on the Jockey’. He was saying that if Bill Gates presented to him a terrible idea and an unknown teenager presented him with a terrific idea, Bill Gates was going to walk away with his money. The rich get richer because they have ‘proven’ their ability to create a profit. Creating Success But how do you break the cycle, creating success so that you are then deemed worthy of further chances?…

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Crowdfunding for Minorities: An Opportunity to Level the Playing Field

Almost five years past the Wall Street melee and the banks have largely positioned back into a steady recovery. Within the last two years, banks have had consistent profitable net returns with a market that is outperforming expectations. Though Wall Street has positioned back on track, the much more unfortunate circumstance remains on main street were small businesses are still trying to position themselves into a positive operating capacity. Of the small businesses that were fortunate to survive through the recession, many of them are now having problems with acquiring capital to expand their businesses to thrive in today’s economy. When it comes to access…

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Crowdfunding hopefuls still waiting for rules

The implementation of equity crowdfunding, a way for small businesses to raise capital, has been delayed again. In my column last week, I said that the rules for launching the JOBS Act, which legalizes equity crowdfunding, would probably be finalized by this spring. That is not likely now. According to David Marlett, founder of the National Crowdfunding Association, “Now we are hoping for by end of 2013.” The trade association’s website, nlcfa.org, says that it is both an opportunity and a risk for investors to “invest money into or loan money to small entrepreneurial companies.” The U.S. Securities and Exchange Commission is trying to minimize…

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Aerospace Industries Association Crowdfunding Campaign to Advertise for Space Program

Aerospace Industries Association

The Aerospace Industries Association is leading a first-of-its-kind crowdfund campaign to showcase to students and young people the exciting new era of U.S. space exploration. If the IndieGoGo campaign reaches its funding goal of $33,000 by May 1, AIA will buy advertising time for an ad trailer on NASA’s new exploration programs in more than 50 movie theaters. The ads will premier alongside the highly anticipated film, “Star Trek Into Darkness,” and run for eight weeks thereafter in Chicago, New York, Los Angeles and Washington, DC. Should the campaign go beyond its goal, more placements will be bought around the country. As the voice of…

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HEADLINE NEWS

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Bankless TimesWhy do crowdfunding campaigns fail?Bankless TimesFor a start, a crowdfunding page is only one of the elements that you need to complete as a business. You should also set up a business site – you can even do it yourself if you follow the instructions on https://WebsiteBu [...]

allAgents extends crowdfunding appeal by 12 hours – but still falls short of targetProperty Industry EyeIt fell short of its target by lunchtime yesterday – but was extended until one minute before midnight last night. By the original closing time of 12.30pm yesterday, it had raised £ [...]

CNBCSome crowdfunding donors could be accidentally breaking tax lawsCNBCDonors may face tricky gift-tax rules, non-deductible donations and a lack of accountability when contributing online.and more » [...]

UAE central bank says looking at crowdfunding regulationReuters“We are looking at crowdfunding regulation which will help SMEs,” Mubarak Rashed al-Mansouri told a banking forum in Abu Dhabi. He said the objective of the move is to licence crowdfunding platforms, which are currently no [...]

UPDATE 1-Crowds to crowdfunding: Soccer ace targets fans' hearts ...ReutersTifosy lets clubs issue bonds or equity* Gianluca Vialli and ex-Goldman banker among founders* Frosinone to follow Stevenage in selling bon.and more » [...]

Financial TimesMonzo plans crowdfunding push to deepen ties with customersFinancial TimesBanking app Monzo is planning to launch one of the UK's largest crowdfunding efforts next year to give customers in the fast-growing bank what it calls “a greater share of ownership”. Tom Blo [...]

Business NewsCrowdfunding to float weight-loss balloonBusiness NewsIG Balloon is offering early supporter discounts of 75 per cent off the expected retail price ($3,000) as part of its crowdfunding scheme. Tony and Tom have been developing the product for seven years. They aim to secu [...]

Crowdfunding New (Extraterrestrial?) TechnologiesInfoToday.comTTS Academy is taking advantage of the recent Security and Exchange Commission rules regarding crowdfunding for investors and promoting its organization as a Public Benefit Corporation. Second, its ultimate aim is to fund t [...]

The FederalistWhy It's Great News That Treasury Is Cutting Crowdfunding RegulationsThe FederalistSupporters of the free market and entrepreneurship should welcome these efforts, especially the reforms to the rules governing crowdfunding. One of the greatest innovations of the Int [...]

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