How to Succeed at Crowdfunding

Hands in
Written by Alec Wagner
August 11, 2020

During a workshop on investment and fundraising with the Purple Prize 2020 cohort, we covered topics ranging from grants and philanthropy to regulation crowdfunding (RegCF).

Over the next few weeks we’ll be releasing some of the key takeaways from the workshop. This week: Insights on Regulation Crowdfunding with Kieran Ryan, a member of the Wefunder fundraising team.

Here are our key takeaways….

1. Regulation Crowdfunding allows non-accredited investors (normal people) to invest in startups online. Companies can raise up to $1,070,000 over a 12 month period from normal people.

2. Plan to raise at least 6 months of runway.

3. The kind of companies that are good fits for RegCF/WeFunder have:

🏃🏽‍♀️ Lots of traction
🙌🏼 Passionate fans
🚀 Really cool, innovative stuff
❤️ Mission-aligned products

4. Takes a startup about 2-3 weeks to prepare for a campaign, 4-8 weeks to fundraise, and 3 weeks to close and receive your funds (using WeFunder) = 9-14 weeks total. 

If you are interested in learning more or viewing this recorded session, please email us at purpleprize@purplemaia.org


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