SelfInformed

October 2013


NASE CO-$PONSORS

Tuesday, October 08, 2013
National Crowdfunding Contest

NASE and the Small Business & Entrepreneurship Council (SBE Council), an advocacy and research organization for entrepreneurs, and Fundable, a crowdfunding platform partner focused exclusively on startup companies, sponsored a national crowdfunding contest in September 2013. The national contest was committed to supporting America’s small business community in its goal of raising and securing capital through the powerful platform of crowdfunding.

With new rules pending at the Securities and Exchange Commission (SEC) to expand equity and debt-based crowdfunding, there has been an increased interest in the viability of this method to raise funds for new and growing businesses. A national crowdfunding contest is an effective approach to increase awareness, educate business owners and stakeholders, and promote entrepreneurship. The contest is also dedicated to elevating the issue of raising and accessing capital for small businesses.

“We are thrilled to offer this opportunity for these finalist businesses to raise capital through crowdfunding while providing an additional cash prize of $10,000 to the business that reaches their fundraising goal first,” said Karen Kerrigan of SBE Council, Katie Vlietstra of NASE, and Eric Corsi of Fundable. “Crowdfunding is a creative and practical way for a small business to grow. Crowdfunding unlocks new streams of capital, and allows determined small business owners the opportunity to live their entrepreneurial dreams.” 

The contest attracted a diverse set of companies, including The Cookie Bar, Christy Lane Enterprises, Ella Grace Designs, Faithful Athletics, Global Cancer Diagnostics, Indy Nut House, Kasten Automotive, LocalLux, and Taggabox. The Las Vegas-based business, The Cookie Bar, won the contest after reaching its fundraising goal of $10,000 prior to the September 20 contest deadline. The company will receive the additional $10,000 in capital as the contest winner.

Learn more about the crowdfunding contest at www.fundable.com/contest.

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