FAIL FAST OR WIN BIG by Bernhard Schroeder

Author:Bernhard Schroeder
Language: eng
Format: epub
ISBN: 9780814434796
Publisher: American Management Association

THE NEW SOURCE FOR FUNDING

The entrepreneurial ecosystem of financial support has radically been altered. In 2009, a new form of funding arrived, called crowdfunding. Crowdfunding is when hundreds or thousands of independent people “crowd together” to fund a project that usually entails the launch of a new product by a start-up company. Initially, crowdfunding was project based, providing entrepreneurs with capital, usually in the form of “advance sales” of a product. Early crowdfunding platforms included IndieGogo and Kickstarter.

But now, based on legislation related to the JOBS Act of 2012, crowdfunding has been extended to include new equity platforms that can be used to raise capital in exchange for equity stakes in these companies. The Securities and Exchange Commission (SEC) will finalize the rules for equity crowdfunding sometime in late 2014.

To better understand crowdfunding and its potential impact, let me walk you through how we got here and exactly what it looks like, how it works, and how to maximize use of crowdfunding platforms. Then, we will look into the future and see what impact this new type of financing will have on the entrepreneurial ecosystem.

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