Hatch OSB June 2015
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This document introduces Hatch Oregon, a platform that allows Oregon residents to invest directly in local businesses. It aims to engage markets and investors in a new way by enabling citizens to launch enterprises that improve communities. The platform operates under Oregon law and allows any Oregon resident to invest up to $2,500 in a company. Entrepreneurs can choose terms like equity, debt, or royalties. Early lessons show crowdvesting is different than crowdfunding by creating investor relationships. First-time investors often return to support local businesses and values through investing.
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Hatch OSB June 2015
- 1. The Community Public Offering A New Way to Engage Markets (& Investors) in Oregon and Beyond Photo here
- 2. Who are we? 2 Kristin Wolff Hatch Board Member (& business owner, policy analyst) @kristinwolff #socinn #socent #unjobs #workoutloud #startup #realchange Simon Love Hatch Operations Manager & CPO Guru @thesimontist @hatchthefuture @hatchoregon #communitycapital #socent
- 3. Hatch in 30 3 We help citizens launch enterprises that improve communities.
- 4. 4 2008 2008
- 5. 5 Trust in things “big” (“Houston, we have a problem.”) 9%
- 6. 6 Just in…
- 7. 7 Trust in “small”
- 8. 8
- 9. 9 The Emergence of “the Crowd” First, as “backers...”
- 10. 10 And now, as investors.
- 11. HATCH OREGON - Law (& its evolution) - HatchOregon.com Platform (investing) - InvestOR Ready (CPO) Accelerator - Investor Meetups - Data/Stories/ Lessons 11
- 12. 12 Investing directly in the kinds of businesses you want to see in the world is awesome. Audrey Eschright: “We need to build businesses that share power.” @recompilermag
- 13. Congratulations! You’re a (potential) investor! (C) 2014 Hatch Innova;on 13
- 14. Investors (you, yes, you) – Must be ‘natural persons’ – Must be Oregon residents – Due diligence is on you – you, yes you, are the risk assessor – Maximum investment is $2,500 per company 14
- 15. Entrepreneurs! – You choose the terms – Can choose equity (stock), debt (loans), convertible notes, royalties, etc. – Maximum raise $250k – Company must be based in Oregon 15 (There is no form)
- 16. And know this… – Angels don’t care about this – Neither do VCs – Neither do most banks 16 (Fine with us.)
- 17. Open Source Investing? HatchOregon.com • Transparency • Information • Investing! (C) 2015 Hatch Innova;on 17
- 18. Let’s compare... (C) 2015 Hatch Innova;on 18 CircleUp/AngelList Hatch Oregon Kickstarter For-profit 501(c)(3) Nonprofit For-profit Real investing Real investing Donating/Pre-Selling USA Oregon only Everywhere Any size business Small businesses only Anyone *There is no initial charge to apply to CircleUp. If approved to be listed on the site, CircleUp will generally assess a commission based on a percentage of the total amount raised. Our commission is intended to be generally consistent with what companies pay to investment bankers in the offline world for similar size fundraising rounds. $50/mo + credit card fees 5% + credit card fees Accredited investors only Any Oregon resident can invest Anyone can donate
- 19. Let’s make this real: Stuart’s Story 19
- 20. The Deal • Equity (10% of company) • Preferred Stock • Annual shareholder meetings (“there will be ice cream”) • So far….$75,000 • Goal of $120,000…will you invest?
- 21. Big Fans 21
- 22. Amongst our fans… (C) 2014 Hatch Innova;on 22
- 23. Questions? (While we’re chatting, use your phone to register as an investor at HatchOregon.com) (C) 2014 Hatch Innova;on 23
- 24. Early (small “n”) Lessons 24 § Crowdvesting is not Kickstarter – investors are not just backers or early- adopter customers. They actually want a relationships with companies. § For many small businesses, It’s not just a tool of last resort. § When entrepreneurs set the terms, they can be pretty creative (and some investors kind of like this….(e.g. Agrarian Ales). § First-time investors come back for more – they are investing in more than your product or your company, they are investing in you, your values, and the idea of local investing. § You have to have your communications ducks in the row, but the process of identifying, engaging, and securing investors could not be more different than the Angel/VC path.