Let the crowdfunding begin! Monday May 16, 2016, was the first day that crowdfunding under Title III of the JOBS Act could be used by companies to raise money via the Internet. Below are links to a few of the portals that have been authorized by the SEC to serve as intermediaries in these transactions.
The StartEngine portal features five offerings, including Graphic Armor, Inc. Graphic Armor is in the business of full-color custom condom printing and seeks to raise $100,000. As discussed on StartEngine, Graphic Armor state it’s the only company in the world to offer FDA approved condoms that feature photo-quality custom print right on the latex. The company identifies no potential competitors, and notes the time, expense and effort required to secure FDA 510(k) clearance is significant. Who knew that condoms are regulated by the FDA?
SeedInvest has two offerings. StartMart Cleveland is a co-working space that fuels the growth of new business. MF Fire is an app-driven, ultra-clean wood stove, engineered for the perfect burn, with a sales pipeline of $3,000,000.
Other Funding Portals.
IndieCrowdFunder.com specializes in Hollywood type activities but no offerings are listed on the home page. Some may be available if you register.
Likewise, Jumpstart Micro has been approved as a portal and asks you to register to find out more.
CrowdBoarders boasts a minimum investment size of $10.
FINRA has this of approved portals, but not all of the links appear to work at this time. As of this writing – May 19, 2016 – 17 companies have filed Form C with the SEC, which is the pre-requisite filing to commence crowdfunding via the Internet.