Crowdfund Night 2 (Views: 2057)

Tue, 12 Mar 2013 11:37:11

Pleased with the success of the first Crowdfund Night conference on November 26th of last year, Crowdfund Night #2 opens its doors to entrepreneurs, artists, investors, and small business owners on Thursday, March 21, 2013, from 6:00 to 9:00 PM. It will be a unique opportunity to showcase upcoming campaigns, to listen to industry experts and successful crowdfunders share their insight and experience on preparing and managing a crowdfunding campaign, and to network with other crowdfunders.  

Keynote presentations will be made by John Vaskis, Vertical Gaming Lead from Indiegogo, and by Heri Rakotomalala, partner at Seeding Factory and Le Studio le Plateau. Attendees will also enjoy listening to the personal experience of successful crowdfunder Noemie Desrochers. Bruno Rakotomala and Bruno Rakotozafy, partners at Seeding Factory, extend an invitation to those who would like to schedule a free 15-minute consultation to get valuable advice and insights on crowdfunding opportunities.

Crowdfund Night #2 will be hosted at Centre Saint Pierre, located in the heart of Montreal at 1212 Rue Panet, Montreal, QC H2L 2Y7. Onsite private parking is available if you come by car, or if you prefer to take the metro, it is only around 100 meters from the Beaudry metro station. 

Seats are limited, so it would be a good idea to register now. Early bird tickets, available until March 14th, are priced at $10.00, and regular tickets after that at $15.00. For participants who would like to showcase their projects or campaigns, the entry price is $20.00, and they should send an email expressing their interest to Heri Rakotomalala at the Seeding Factory.

For those who are new to crowdfunding, the term refers to the use of an online campaign by a creator of a project to finance the project by generating interest, finding potential backers, and soliciting funds. Crowdfunding requires the participation of three elements—the product or service creator, the collective of investors, and the intermediary organization that provides the platform to organize and integrate the network such as IndiegogoKickstarter and FundRazr. Until now, project creators keep 100% ownership of their work and do not offer financial returns or equity to solicit loans. Backers of projects are generally motivated to participate because they are fans or friends of a project, or they are inspired by a new idea or a project’s rewards—a copy of what’s being made, a limited edition, or a custom experience related to the project.

Crowdfunding is of particular interest to startups that are looking for funding to get their projects off the ground especially considering the difficulties in getting bank loans or venture capital for new projects. With crowdfunding campaigns, creators or inventors may also benefit by obtaining an improved profile or reputation in the marketplace, pre-launch market feedback, and audience engagement in the project. 

In some countries, crowdfunding will soon be allowed to offer financial incentives to project backers as legislation permitting project creators to sell investors small amounts of equity in their businesses comes into effect.  In the United States, the Jumpstart Our Business Startups (JOBS) Act, signed by President Obama in April of last year, has established a legal foundation for this type of crowdfunding. However, the US Securities Exchange Commission (SEC) will have to step in and regulate the Act before it can take effect for equity crowdfunding.  Canadian regulators are also grappling with the issues involved in allowing equity crowdfunding to go ahead while still protecting potential investors from fraud.

Fundica is proud to support Crowdfund Night #2 and will make a brief but valuable presentation on traditional funding for the benefit of attendees. At the same time, we congratulate Seeding Factory’s two founders Heri and Bruno for their dedication in promoting and energizing the crowdfunding movement in Canada. Seeding Factory is a Canadian-based consulting agency specialized in crowdfunding and helps build and manage successful campaigns.

by Stephen Hanley

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