Michigan Funders and CrowdEngine Launch First M.I.L.E. Act Crowdfunding Platform
Salt Lake City, UT – February 24, 2015 –MichiganFunders.com, built on the CrowdEngine crowdfunding platform, announced the launch of the first M.I.L.E. Act Equity Crowdfunding platform. Under the Michigan Invests Locally Exemption or “M.I.L.E. Act”, state residents can now invest up to $10,000 per investment, per year, in startups, existing businesses,…
According to industry research by Massolution and the World Bank, crowdfunding generated $5.1 billion in funding transactions in 2013 and will surpass $300 billion in funding transactions by 2025. Within the next year, Title III of the US JOBS Act is expected to go into effect, allowing non-accredited investors to invest in startups in exchange for equity. Experts have estimated…
– Sep. 29, 2014 – WASHINGTON, D.C. – CrowdEngine will attend the conference to be held at the Hogan Lovells Law Firm, Columbia Square, 555 13th Street NW in downtown Washington, D.C. from September 29 to October 1, 2014.
The Education Summit organized by the Crowdfunding Professional association (CfPA) will provide stakeholders and non-profit organizations with new information and updates to understand…
As you work on your platform, you will most likely encounter this use case at some point: a project has raised money but not enough to achieve its funding goal by its deadline. Should you add more time to let it raise more money and potentially be successful?
In most cases, don’t. Constraints are there for a reason and playing around with them might break the trust your users have in you. Only extend the time if there’s a 99% chance the campaign will be successful. That’s difficult to assess, but it’s more likely if it meets the following conditions:
- Project is at least 80% funded
- Campaign manager is serious and committed
- Campaign manager’s network isn’t tapped out
- Campaign manger knows exactly who in her network is still due to contribute
- You like this project and specifically want it to succeed
Don’t make extending the crowdfunding deadline a habit. If you ever extend the duration of a campaign, find out what happened that forced you to do so, and apply that learning so it doesn’t happen again.Someone famous Source Title
The average success rate for crowdfunding projects evolves somewhere below 50%. Kickstarter’s success rate is 44% as of July 2013. Sound easy to reach? Far from it! Here are a few tips to help your improve your luck and beat the stats.
In the beginning when you have no or few projects, it might be tempting to accept any campaign on your crowdfunding…