As I have ventured into a New Frontier of raising money for our business – called crowdfunding, I have encountered many respected individuals who were concerned that somehow we would land in jail, or at the very least get in trouble with the SEC/IRS. None of us building a business wants to get into trouble. We want to have a chance to have success with our innovation…our passion, and do it legally. We want the opportunity to launch an important product, creative idea, or charitable cause into the public with the hope of bettering our world in some way.
Crowdfunding goes back much further than ever I imagined. Did you know that if Joseph Pulitzer, in 1884, had not run an appeal to raise money, in his newspaper, the New York World, he would not have raised the $100,000 needed to complete the pedestal for the Statue of Liberty? The American Committee for the Statue of Liberty had run out of money. Can you imagine not having the Statue of Liberty, one our most treasured symbols of freedom and liberty. That is the power of crowd funding. It is the power of the cumulative many. With the support of 125,000 people, the Statue of Liberty now stands
Our country is built on the courage of our ancestor taking momentous risks, forging the unknown to improve the lives of themselves and future generations. Crowdfunding is one ingenious solution to a seemingly hopeless situation many of us find ourselves in….a struggling economy that makes it nearly impossible to launch a new idea. Glass half full or half empty…your choice. It is so easy to feel defeated, but we do have options that empower us to success.
Like anything new, it is hard not to be cautious/suspicious. Frankly, due diligence is a critical part of any good business. So, I did a bit of research on the history, and current conditions of crowdfunding. I began to reinvent the wheel….stopped myself, and said why J. Here are some wonderful links that will illuminate and educate you on the history, and the current status of crowdfunding. We are committed to keeping you updated on the advancements in policy.
Our Link: igg.me/at/emberdeflector
Fun videos illustrating the history and benefits of CF:
https://www.youtube.com/watch?v=NdHj8_JK47s
Informational links:
http://socialmediaweek.org/blog/2011/12/a-social-history-of-crowdfunding/
http://www.fundable.com/crowdfunding101/history-of-crowdfunding
Views on Title III “Crowdfunding”, SEC Regulations: Kim Wales
http://www.giveforward.com/p/crowdfunding/crowd-funding-websites
http://www.crowdfundingworldsummit.com/crowdfunding/
emberdeflector 