The news has reported several times over at this point that the Senate has voted to approve the JOBS Act (Jump-start Our Business Start-ups), which (among other things) allows for the crowdfunding of capital of up to $1 million annually without needing to register the shares for public trading with the Securities and Exchange Commission. The amendments to the bill have been made and run through both the Senate and the House and it has been announced that the President will sign the bill into law on Thursday… that’s today!
What’s nice about this initiative passing – beyond the doors it opens up for start-ups and other small businesses, is the general approval on both sides of party lines about the bill itself. The bill passed 73 to 26 in the Senate and then 380 to 41 in the House once the proposed amendments were integrated. And, with the polarized politics that you so often hear about, it’s nice to see that sometimes they’re on the same page. And the bill has been known to be supported by the President for some time now, which is why it’s generally expected that it will be signed today.
IdeaScale (as it’s also constantly evolving) has introduced the ability to crowdfund on our platform. With just a few clicks, your project can be off and running whether it’s fundraising for your next dog sled race or raising the start-up capital for your new dotcom company. And with IdeaScale, you can fundraise by ideas so that those initiatives that are popular rise to the top and generously grow as each new fan supports it.
With an industry that’s projected to grow by 500% by 2013, it’s no wonder that 90% were in favor of the bill that supports a new way of fundraising for business, the arts, and more.
What do you project for the future of crowdfunding? What would you like to see next from IdeaScale?