By Kathy Cox

The New Funding Paradigm: Using the Power of the People

On the heels of an announcement that Washington State would allow unaccredited investors into the new category of equity crowdfunding, CityU held an informative evening on the new funding paradigm. On October 13, more than 70 attendees listened to how Washington’s new crowdfunding rules will impact start-ups, while addressing best practices for crowdfunding success. This event doubled as a platform to launch CityU’s MBA entrepreneurship program.

Wil Schroter, the CEO of Fundable – the largest equity and business-focused crowdfunding site – joined our discussion panel, along with the sponsor of the Washington legislation, State Representative Cyrus Habib; Chief of Registration at the Department of Financial Institutions Faith Anderson; and “Don’t Call me Ma’am” skincare President, Ilene Ruvinsky, whose business is a case study example of successful crowdfunding.

The event offered a full hour of panelist discussion on crowdfunding with audience participation, in addition to a half-hour session of panelists’ presentations.

Wil Schroter explained how crowdfunding sites help streamline the funding process even with targeted investors in mind. Faith Anderson discussed how the federal intrastate rules affect the new Washington law while Cyrus Habib reiterated his commitment to helping entrepreneurs build business in Washington. Ilene Ruvinsky spoke about her three-stage crowdfunding campaign: First came a smaller run of pre-sales, then an accredited equity and then an upcoming larger equity fundraising campaign.

Attendees enjoyed a wine tasting bar from award-winning boutique winery, Dundinbil and appetizers from social enterprise, Farestart.

We are currently offering an MBA with an emphasis area in entrepreneurship. Students in this program will create pitches for start-ups as their final project.

Please contact Kathy Cox if you have any questions about our entrepreneurship program at kathycox@cityu.edu.