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Crowdfund Your Business or Startup – Contest Winner Receives Additional $10K in Bonus Capital

Wednesday, July 10, 2013  
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Crowdfund Your Business or Startup – Contest Winner Receives Additional $10K in Bonus Capital

Crowdfunding has become a serious method for financing small business startup or expansion. For women business owners, crowdfunding is truly leveling the playing field when it comes to accessing capital. More than $5 billion will be raised through crowdfunding in 2013, and when the Securities & Exchange Commission (SEC) issues final rules for equity and debt-based crowdfunding sometime this year, this financing approach will offer women entrepreneurs even greater access to networks and potential investors. Are you ready for crowdfunding?

WIPP partner SBE Council has teamed up with the National Association for the Self Employed and the crowdfunding platform Fundable on a crowdfunding contest to help startups and existing businesses fundraise capital to start or grow their company. Entrepreneurs and business owners can learn how to crowdfund their businesses, and compete to win $10,000 in bonus capital.

Here’s how the contest works:

● Contest participants will use the Fundable platform to create a company fundraising page. This page will include information about the entrepreneur and her business or startup, as well as the case for their capital needs. The profile page will be used by the judges to select 10 applicants who will compete as Finalists in the crowdfunding round.

● Representatives from NASE and SBE Council will review all applications, and select 10 companies to participate in the crowdfunding round of the contest. Businesses that are not selected for the final competition can continue to use the Fundable platform to raise funds for their business.

● Finalists will work to enhance their profile page on Fundable. Coaching and tips will be provided on how to most effectively execute a crowdfunding campaign. Finalists will then communicate their goals to their networks and the general public through social media, email and other means to raise the funding target they have established for their businesses.

● The first Finalist to reach their fundraising goal will receive the money they have raised, along with a $10,000 in bonus capital. Other finalists will be encouraged to continue to raise their funding targets from the crowd. As long as contest participants raise 100% of their funding target within the campaign time period, they will receive these funds for their business.

This is a great opportunity to learn how to crowdfund, and to compete for $10k in capital (in addition to what you raise through the crowd)! The application deadline is July 28, 2013! To learn more about the contest and/or to apply, please click here.

You can follow the contest, and its participants and supporters on Twitter at #ryoufundable.


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