For startups, finding shareholders and investors can be essential to the success of the business.
“Many businesses die from lack of funding,” David Duccini , CEO of Silicon Prairie Portal and Exchange, said at Monday’s meeting of the Fergus Falls Area Entrepreneurs and Creators.
In the third meeting for the group, Duccini and Jade Barker, a consultant for Silicon Prairie, were invited to present on MNvest and how it allowed them to create a crowdfunding portal company. The MNvest law has made the availability of this kind of service legal and it has the ability to change the way currency can be circulated and invested and how this can affect businesses.
The presentation was based on the idea of how to create equity, and “the democratization of capital,” as Duccini said.
Getting to the point in which this kind of crowdfunding is possible has been a long road, and Duccini outlined why this was so in his presentation.
From about 1933-2012, not much was changing in the investment sector. Finding investors was limited to basically friends and family and your ability to seek out benefactors. No public share promoting was authorized and it was…