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Oeffa 11.5.13
- 2. CROWDSOURCING ACCORDING TO JEFF HOWE • Crowd wisdom • Crowd creation • Crowd voting • Crowd funding
- 3. CROWDFUNDING TYPES BY MARTY ZWILLING • Good cause crowdfunding • Rewards-based crowdfunding • Pre-order crowdfunding • Debt-based crowdfunding • Start-up equity crowdfunding -Marty Zwilling Will the Real Crowdfunding Model Please Stand Up?
- 8. THE JOBS ACT (JUMP-START OUR BUSINESS STARTUPS ACT) The JOBS Act was signed into law by President Obama in the Spring of 2012. It removes regulatory hurdles for small businesses and allow companies to raise capital from private investors and in public markets. The Securities and Exchange Commission (SEC) was asked to draft the specific guidelines.
- 9. THE JOBS ACT (JUMP-START OUR BUSINESS STARTUPS ACT) Specifically the legislation would…. Remove the restrictions on advertising or soliciting investments Change who could qualify as an accredited investor Loosen the reporting requirements of the SEC, including provisions of the Sarbanes-Oxley Act
- 10. THE JOBS ACT (JUMP-START OUR BUSINESS STARTUPS ACT) On July 10, 2013 the SEC acted on the solicitation ban. On September 23, 2013 the new rule took effect. On October 9, 2013 they acted on the accredited investor issue.
- 11. THE ‘CHALLENGES’ OF CROWDFUNDING -BILL CLERICO Fraudulent entrepreneurs with a slick video can dupe people into investing in a nonexistent product Incompetent entrepreneurs can fail to deliver on their promises Unsatisfied investors can dispute their transactions and amass huge liabilities for the platforms and payment processors Insecure platforms can risk credit card data
- 12. HOW TO MAKE THE BEST CROWDFUNDING PITCH -MOHANA RAVINDRANATH 1. Your story should be authentic, clear, and precise 2. Don’t assume your audience are experts in your field or even in investments 3. Choose your audience 4. Show the funders what you already have 5. Choose the crowdfunding platform carefully
- 13. KICKSTARTER SUCCESS RATE -MASHABLE, 2012
- 14. GEOGRAPHIC DISTRIBUTION OF PROJECTS IN THE U.S.A. BY SUCCESS Ethan Mollick, Kauffman Dissertation Fellow, University of Pennsylvania
- 15. EMPOWER PEOPLE AROUND THE WORLD WITH A $25 LOAN Technology platform that connects donors with borrowers – original crowdfunding platform • 1,000,000+ lenders • $490,000,000+ in loans • 99% repayment rate • 227 field partners in 73 countries Most successful crowdfunding site in history.
- 16. THE IN-DEPTH KIVA ZIP LOAN PROCESS • Every borrower needs an endorsement • Braintree is a trustee and writes endorsements • Borrower completes a loan application • Braintree reviews the loan and makes final recommendation • The Kiva Zip team will review the loan, before posting it to the website to begin fundraising • Loans are given 3 months to fully fund
- 17. KIVA TRUSTEES IN THE U.S.A.
- 18. LINDSAY SIMS - CLEVELAND, OHIO
- 19. Startup businesses in Northeast Ohio We provide: • Term loans of $1,000-$50,000 • Current interest rate of 7.25%, other terms vary based on specific needs • Loan uses include: equipment, inventory, business debt restructuring, and project based working capital Basic requirements: • Collateral, Personal guarantees, demonstrated revenue sufficient for loan payments
- 20. New technology based ideas in Northeast Ohio We provide: • Grant funding without equity position • Up to $2,000 for eligible businesses • Up to $6,000 for Braintree tenants • Acceptable funds uses include: design, prototypes, patents, initial inventory, etc. • Business model design • Funding pitch development • Competitive process experience
- 21. FARM CREDIT MID-AMERICA Colin Gordon Wooster, OH 330.264.2451 Colin.gordon@e-farmcredit.com Financing Agricultural Needs Operating Real Estate and Facilities Equipment Visit us at e-farmcredit.com
- 22. Barrett Thomas 419.525.1614 bthomas@braintreepartners.org