Category Archives: Online Funding Campaigns

Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property

CBC News | Sep 3, 2019

Andrew day BC parks foundation - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet propertyThe fundraising campaign to buy a swath of remote coastal wilderness on the Sunshine Coast has been a success.

The B.C. Parks Foundation, an independent charity that works with B.C. Parks, was able to raise $3 million to buy 800 hectares in Princess Louisa Inlet from a private seller. The inlet is about 100 kilometres northwest of Vancouver.

The last amount of the money needed came in at the last minute, right on Tuesday's deadline.

B.C. Parks Foundation CEO Andrew Day says this will be one of the first crowdfunded protected parks in the country.

"It's just an amazing, amazing thing that people have done," he said.  "It was so many people who gave us $10 or $15 and said, 'This is all I can do, but this is a wonderful thing that you're doing.'"

The sale will not be final until Sept. 3, but Day says he does not expect anything to stand in the way.

"We knew that there had been a couple offers from forestry companies to buy that property and that's why we got involved in the first place," he said.

Day has previously said the B.C. Parks Foundation wants to keep the land from being logged and developed.

"It's really a huge portion of the inlet and we'll do our best to make sure that that area stays protected forever," Day said.

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NCFA Jan 2018 resize - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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NCFA Fintech Confidential Issue 2 FINAL COVER - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property

 

Regulation Crowdfunding Surpasses $250,000,000 in Commitments The Model is Working but its Potential is Much Greater

Crowdfund Capital Advisors | Sherwood 'Woodie' Neiss | Aug 7 ,2019

RegCF - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet propertyIt has been just over 3 years since Regulation Crowdfunding (Reg CF) went into effect and most recently the industry surpassed a quarter of a billion dollars in commitments. Since inception over 1,800 companies in cities all across the United States have filed to raise money under Regulation Crowdfunding. Over 271,000 investors, most of which are friends, followers or customers of these businesses have made commitments to start, scale or expand operations.

The average raise stands around $237,000 which firmly addresses the Valley of Death[1] issue. Most of the successful companies are raising funds in less than 90 days which is far faster than other forms of financing like Venture Capital or Bank Loans. There’s been no fraud or Wild West as opponents had claimed.

“Essentially we built a financing mechanism which is doing exactly what we said it would,” said Sherwood Neiss Principal at Crowdfund Capital Advisors (CCA) “We’re funding local businesses with a vested group of local investors that is creating local jobs and powering local economies.”

Regulation Crowdfunding began on May 16, 2016. It allows any startup or small business to raise up to $1,070,000 online from family, friends and followers (accredited or not) provided issuers use an online investment platform that is registered with the Securities and Exchange Commission (SEC) and disclose information about their company and financial wellbeing.

See:  The SEC Publishes Report on Reg CF: “The number of crowdfunding offerings as well as the total amount of funding during the considered period was relatively modest”

Since the industry began, Crowdfund Capital Advisors has been collecting information on every offering in its CCLEAR Database. CCLEAR is the leading Regulation Crowdfunding database that collects, cleans, aggregates and reports on all companies seeking funds via Regulation Crowdfunding as well as those doing parallel 506(c) offerings[2]. This information includes financial performance, security offering, valuation, industry, daily commitments and number of investors. The information is summarized and published on a daily basis on the CCLEAR Regulation Crowdfunding dashboard.

Here are some key data trends:

  • Capital commitments – From FY17[3] to FY18 capital commitments increased 178% from $45.7M to $81.1M. The second full FY of Reg CF saw capital commitments increase 139% to $113M. Total capital commitments to date is over $250M.
  • Issuers – During the same period the number of companies seeking to raise funds increased 187% from 317 to 592 and 137% to 810 in FY19. Total issuers to date is over 1,800.
  • Investors – The number of individual investors grew from 44.5k in FY17 to 92.6K in FY18 to 117.8K in FY19. Total investors to date is over 270,000.

“No matter how you look at it, there’s been an impressive growth of at least 250% in 2 years,” says Neiss. “If we extrapolate out over the next 2 years, we estimate that over 3,400 companies across the United States will receive half a billion dollars by over half a million investors.”

CCLEAR captures a maximum of 56 different industries from Advertising and Marketing, to Healthcare and Utilities. During the first fiscal year there were 44 industries represented. That number increased to 47 last fiscal year. While application software, alcoholic beverages, business services, consumer packaged goods, entertainment, personal services and restaurants were the most common industries seeking funds, financial services, business services, employment services and retail saw the greatest increase in offerings between the first and third fiscal years.

“The wide representation of so many industries speaks to the broad appeal of regulation crowdfunding to both companies seeking and investors looking to deploy capital,” says Neiss. “No matter what industry you are in, if you have an engaged group of customers that could be investors, Regulation Crowdfunding is something you should explore.”

Companies in 48 of the 50 States have registered to raise funds via Reg CF.

See:  OurCrowd Double IPO Success Provides Crowdfunding Validation

From an employment perspective, the data shows that Reg CF continues to sustain and support local jobs. In the first fiscal year over 1,482 jobs were supported. This grew by another 3,150 in the second fiscal year and another 4,448 in the third.

“Collectively almost 10,000 jobs have been supported around the United States since the launch of Regulation Crowdfunding,” says Neiss.

“We expect this number to grow by another 10,000 in the next 2 years. 20,000 jobs means 20,000 people employed by local businesses and reinvesting their income back into these communities through mortgage payments, groceries, dining out, education and more. This is how we support local economies. And we are doing it despite the current $1M cap on company raises. Imagine what we could do if we increased these caps from $1M to $5M, $10M or $20M? It is easy to see how we could increase this from 20,000 to 200,000 jobs.”

While not all Regulation Crowdfunding companies are revenue generating those that are had over $400M of Revenue in their most recent fiscal year.

“Given that the majority of these firms are growing and reinvesting their earnings, you can only imagine the multiplier effect that this has on local economies,” says Neiss. “Businesses are reinvesting into their local economies by purchasing goods and services to support them and hiring employees. And employees are using their paychecks to support themselves. Together we estimate they are pouring close to a billion dollars into local economies.”

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NCFA Jan 2018 resize - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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NCFA Fintech Confidential Issue 2 FINAL COVER - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property

 

Blockchain Association Takes Over Kik’s ‘Defend Crypto’ Crowdfunding Effort

Coindesk | Nikhilesh De | June 28, 2019

blockchain association to defend crypto fund - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet propertyCanada-based social media company Kik is relinquishing control of its legal defense crowdfunding campaign to the Blockchain Association in an effort to broaden the initiative’s reach.

Kik and the Blockchain Association announced Friday that the D.C.-based lobbyist group would be taking over “Defend Crypto,” the crowdfunding initiative that Kik previously launched to raise funds for its ongoing battle with the U.S. Securities and Exchange Commission.

While Kik will retain the $5 million it initially contributed to the fund, all of the other donations – some $1.9 million – will be set aside for other crypto projects facing similar lawsuits. What’s more, the company intends to donate $500,000 in kin tokens to help support the fund.

The move represents a significant departure from the effort’s initial goal. According to the campaign’s website, all donations were supposed to solely support Kik’s legal efforts.

“Once the case against Kik is resolved, all remaining funds, including any portion of the initial $5 [million] contribution by Kik, will be allocated to a nonprofit organization to be used for other initiatives that help with innovation in our industry,” the website read as of June 24.

However, in its announcement on Friday, Kik wrote “if we are going to Defend Crypto, we need to do it as a collective.”

See: SEC sues Kik for US$100M for ‘illegal’ securities offering of digital tokens

The Blockchain Association was chosen to helm the initiative due to its advocacy work for the crypto industry, Kik spokesperson Tanner Philp told CoinDesk.

“[The Blockchain Association] will be in the best position to objectively allocate the resources to the highest impact initiatives,” he wrote in an email.

Kristin Smith, who currently heads the association, said in a statement that the initiative would continue to focus on legal battles for crypto startups, saying:

“As stewards of the Defend Crypto fund, we will establish a structure to participate in legal proceedings that will have an outsize, positive impact on the entire crypto ecosystem.”

Smith added that “regulatory clarity is sorely needed for companies and consumers in the crypto economy,” possibly referencing Kik’s argument that the SEC’s complaint against the startup will add regulatory clarity for crypto projects.

“We think we’ll be able to leverage this fund to constructively engage with the courts,” she said.

SEC vs Kik

Kik’s legal battle with the SEC began last year, when the U.S. securities regulator told the company that it may have violated federal law when it conducted a token sale in 2017.

See:  Kik is Crowdfunding $5 Million in Crypto to Help Fight SEC

Kik disagreed with that assessment, and later took the unprecedented step of making both the initial Wells Notice – the SEC’s argument on how Kik violated federal law – and its own response public.

Ted Livingston, the CEO of the company, told CoinDesk last month that it had already spent some $5 million going back and forth with the SEC since its initial Wells Response, but the regulator ultimately went forward with the lawsuit, filing a complaint against Kik earlier this month.

According to the complaint, Kik saw an initial coin offering as a last-minute effort to generate revenue, and promotional statements by Livingston during the sale supported the argument that the kin token is a security.

Attorneys told CoinDesk that the SEC case appears strong, though several warned that initial complaints are supposed to, and do not necessarily indicate the outcome of a case.

Kik has yet to formally respond to the complaint, though general counsel Eileen Lyon argued in a statement that the SEC’s case is based on “flawed legal theory,” and Livingston’s statements indicating that kin’s price would rise was not a promise of profit.

Broader reach

The shift for Defend Crypto stems from the number of other projects that are facing their own legal cases, as per Friday’s announcement.

Kik’s crowdfunding push began a conversation about the SEC’s efforts to police the ICO space, it said.

“The SEC has been very effective in keeping everyone in different corners of the room, making it feel like their challenges with the SEC are unique to them, like they are going it alone,” the announcement reads. “We know how this feels – which is why we decided to make our Wells Notice and Wells Response public in January – we knew we couldn’t be the only ones. What we didn’t anticipate was just how many have been affected by the cloud of uncertainty.”

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NCFA Jan 2018 resize - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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NCFA Fintech Confidential Issue 2 FINAL COVER - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property

 

SmartHalo crowdfunds an additional $1 million for smart biking device

Betakit | | June 13, 2019

smart halo 300x198 - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet propertyMontreal-based SmartHalo, a smart biking device developer, has successfully crowdfunded $1 million for the second generation of its product on Kickstarter.

“It made sense to return to Kickstarter after the success of the first SmartHalo campaign,” the company wrote on its Kickstarter page. “It’s a great platform for us to share our vision and receive the support needed to bring it to life. Crowdfunding allows us to give back to our community by giving our fans the opportunity to get the new SmartHalo first and at a discounted price. It’s a winning solution for everyone.”

SmartHalo2 is a connective device that allows riders to track cycling metrics, sync that data with fitness apps, and find new routes with navigation signals. It is water-resistant and comes fitted with an anti-theft alarm and a front light. Arguably its most recognizable new feature is PeekDisplay, which complements the product’s Halo display to provide more visible information to the rider.
“We see a huge opportunity in cycling. Not necessarily for sports, but for mobility,” said Xavier Peich, CEO and co-founder of SmartHalo. “Cities are investing in better infrastructure, while increasingly limiting car access and parking to downtown cores. This is a huge trend that is coming to Canada sooner than we think.”

CS2016 Throwback:  Smart Halo CEO and Co-Founder, Xavier Peich, wins NCFA live pitching session 1

smart halo wins NCFA live pitching session - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property

SmartHalo, formerly known as CycleLabs Solutions Inc, was founded in 2014 by Peich, Gabriel Alberola, Maxime Couturier, and Olivier Bourbonnais. In 2015, the company launched its first Kickstarter campaign, resulting in over 3,000 community pledges and raising half a million dollars. In 2016, the company raised a $328,000 angel round, and has been backed by Fonds Innovexport since 2017, a Quebec-based fund that also backs the likes of cloud software company, AlayaCare.

In the second half of 2017, the company struck a deal with Apple, distributing the SmartHalo device in Apple stores across North America and Europe. Peich said SmartHalo is both the first Kickstarter project and the first Canadian hardware company to launch at Apple. Since then, the company has delivered 25,000 units to cyclists in over 70 countries. Peich told BetaKit the company expects to raise a Series A sometime this year.

The company participated in The Next36’s 2016 Venture Day, where Peich was recognized as a Next Founders Valedictorian. The company also advanced to the finals of the Startup Community Awards in 2017, placing in the top three in the Startup Champion of the Year category.

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NCFA Jan 2018 resize - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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NCFA Fintech Confidential Issue 2 FINAL COVER - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property

 

Art Gallery of Ontario shows off the Yayoi Kusama infinity room it’s crowdfunding to buy

CBC News | Nov 23, 2018

yayao kusama 1 300x196 - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet propertyMore than 3,000 people contributed to campaign to buy new installation from renowned Japanese artist

LET'S SURVIVE FOREVER.

That's the name of the infinity mirrored room the Art Gallery of Ontario plans to purchase from world-renowned artist Yayoi Kusama — that is, if its crowdfunding campaign is successful. And yes, it's always spelled in all-caps, the Art Gallery of Ontario (AGO) said.

Over 3,000 people have already chipped in a contribution to permanently acquire the brand new Kusama installation, even though they hadn't seen it until now.

The AGO said its campaign has brought in around half of the $1.3 million it needs to buy the work, but it's hoping more people donate on next week's "Giving Tuesday," a day devoted to donations following "Black Friday" shopping.

Here's a look inside the room:

The major installation, which will be given a special place at the downtown Toronto gallery, features mirrored orbs on the ground and suspended from the ceiling — similar to the work Narcissus Garden, which dominated a large room in the AGO during last year's ultra-popular Kusama exhibit.

There's also a mirrored rectangular column inside the LED-lit room, which creates what's said to feel like an infinity room inside an infinity room.

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NCFA Jan 2018 resize - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet propertyFF Logo 400 v3 - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet propertycommunity social impact - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
NCFA Fintech Confidential Issue 2 FINAL COVER - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property

FCA | Sep 11, 2019 Speech by Christopher Woolard, Executive Director of Strategy and Competition at the FCA, delivered at the Cambridge Centre for Alternative Finance annual conference, Judge Business School. Highlights: The UK has led the rest of the world with developments like the regulatory Sandbox, we are very proud of what has been achieved through it. Early engagement is incredibly valuable for monitoring, supervisory and policy purposes. Working with innovative firms helps us achieve a better bird’s-eye view, enhancing our understanding when the overall landscape is blurry and ­changing quickly. 'Stablecoin' is a term that has been widely adopted by industry, but we do not take it to be a distinct category of cryptoassets. Something labelled as a 'stablecoin' could sit within or outside of our regulatory perimeter. Note: this is the speech as drafted and may differ from the delivered version. See:  FCA confirms new rules for P2P platforms Last month, Facebook announced its plans for Libra, the stablecoin it is planning to launch in conjunction with a number of payment and tech firms. As has been widely reported, along with other regulators and central banks, we have been discussing their plans with Facebook. If this comes ...
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Christopher Woolard2 - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
NCFA Canada | Sep 13, 2019 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Sep 13: Funding is Female with Jill Earthy EP37 GUEST: JILL EARTHY, Head of Female Funders (Linkedin) HOST: Manseeb Khan, Fintech Friday's show host BIO:  Jill Earthy is an entrepreneurially minded leader who believes diversity drives innovation. As Head of Female Funders (powered by Highine BETA), she is empowering female leaders to become investors in early stage companies. Her background includes being an entrepreneur, supporting entrepreneurs in various leadership roles and working as Chief Growth Officer of FrontFundr, an online investment platform. She is a community leader and active mentor, currently serving on the national Board of Sustainable Development Technology Canada and as Board Chair of the Women’s Enterprise Centre in BC, and as Co-Chair of We for She. Jill was recently recognized by the Canadian Centre for Diversity and Inclusion award as a Community Champion, by Business in Vancouver as an Influential Woman in Business and by WXN as one the Top 100 most powerful women in Canada in 2019. About this episode:  On this episode of NCFA'S Fintech Fridays Podcast, our host Manseeb Khan sits down with Jill Earthy the Head of Female Funders. The talk about what ...
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FF EP37 female funders 1 - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
TechCrunch | Kate Clark | Sep 12, 2019 Affirm, founded by PayPal’s Max Levchin, is said to be raising as much as $1.5 billion in a combination of debt and equity, according to people with knowledge of the company’s fundraising activities. Josh Kushner’s New York venture capital firm Thrive Capital is said to be leading the financing, with participation from the San Francisco outfit Spark Capital. Affirm declined to comment. Representatives of Thrive and Spark, existing Affirm investors, have not responded to a request for comment. Sources familiar with Affirm, which gives consumers an alternative to personal loans and credit by financing online purchases at point-of-sale, presume the round will be made up largely of a line of credit from a large financial institution, known as a warehouse facility. Affirm recently raised a $300 million Thrive-led Series F round in April at a valuation of $3 billion. Fintech companies focused on payments and lending, however, require a vast amount of capital to sustain operations. Those capital requirements coupled with the frothiness of the venture capital market justify this additional cash infusion. To date, Affirm has raised $1.03 billion in funding from Ribbit Capital, Founders Fund, Andreessen Horowitz, Khosla Ventures, Lightspeed ...
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max levchin - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
Le Monde with AFP | Sep 12, 2019 Bruno Le Maire expressed his hostility towards this cryptocurrency project, saying that "the monetary sovereignty of states is at stake" Finance Minister Bruno Le Maire announced on Thursday (September 12th) that France was refusing to authorize the development "on European soil" of libra, the cryptocurrency that Facebook wants to launch in 2020. "Considerable financial disorder" "The monetary sovereignty of states is at stake," said the minister at the opening of a conference of the Organization for Economic Co-operation and Development (OECD) dedicated to the challenges of cryptocurrencies - without specifying, however, what concrete measures he wanted engage to prevent the spread of libra in Europe. See:  Facebook’s Libra Cryptocurrency: Everything We Know In his speech, Bruno Lemaire described as "systemic" the risks that could result from this "possible privatization of a currency (...) held by a single actor that has more than 2 billion users on the planet" . "Any failure in the functioning of this currency, in the management of its reserves, could create considerable financial disorders , " justified the Mayor, also fearing that the libra is replacing the national currency in the States where the currency is weak or ...
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Bruno Le Maire Minister Finance of France vows to block facebooks libra - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
CNBC | Bob Pisani | Sep 10, 2019 Key Points The head of the SEC says more needs to be done to make it easier for companies to go public. Jay Clayton says his office is taking a “fresh look” at allowing Main Street investors access to the private capital markets. The head of the SEC says more needs to be done to make it easier for companies to go public and that his office is taking a “fresh look” at allowing Main Street investors access to the private capital markets. In a speech to the Economic Club of New York on Monday, SEC Chairman Jay Clayton said the lack of more IPOs and the inability of most of the Main Street investing public to access private markets was a “growing concern.” Clayton addressed what he called the “two segments” in capital markets: the public markets, and private ones, including private equity and venture capital investments. See:  The Solution To The Fintech IPO Shortage “Twenty-five years ago, the public markets dominated the private markets in virtually every measure,” he said. “Today, in many measures, the private markets outpace the public markets, including in aggregate size.” Clayton wants to make the ...
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SEC jay clayton - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
Nesta UK | Rosalyn Old and Johnathan Bone | Sep 4, 2019 Earlier in May 2019, Nesta commissioned a report called 'Taking Ownership:  Community Empowerment through Crowdfund Investments' that looked at how community-led projects have the power to transform local areas socially, economically and environmentally and how institutions such as local governments, municipal authorities and foundations, can help community-led initiatives by making the most of new investment crowdfunding models (eg community shares and bonds). Key Findings Investment crowdfunding has been used to fund a broad range of local assets, including but not limited to, saving local shops and pubs from closure, creating new community centres and art spaces, and expanding leisure facilities and infrastructure projects. Potential opportunities in using investment crowdfunding for community-led initiatives include helping to fund projects that would otherwise struggle to access finance elsewhere, increasing the use of and volunteering for community initiatives, and strengthening local resilience and self-determination by bringing communities together to improve their area. The main challenges for community organisations raising money in this way include gaining access to assets to buy or use on a temporary basis, transitioning from grassroots fundraising to implementing a project and avoiding negative impacts on diversity and inclusion ...
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taking ownership community empowerment through crowdfunded investment - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
NCFA Canada on behalf of our partner's Lending Loop | Sep 11, 2019 HAVE YOU EVER SEEN A CHESHIRE CAT SMILE? Well they deserve it. Back in October 2015, NCFA made this introductory video with Cato Pastoll, CEO and Co-Founder of Lending Loop, about a peer to peer lending marketplace for small businesses model that was new to Canada but was achieving significant growth internationally. The question and opportunity was back then:  why not here in Canada? A question that many of us ask ourselves, ask the community and point fingers at strict regulations and high operating costs.  Well fast forward several years and growth obstacles later, and the Lending Loop story continues to impress with their latest milestone of lending over $50 million to deserving small businesses to help them grow and expand operations while providing retail and accredited investors direct access to a wide range of lending and investment options, a robust community and the chance to strengthen Canadian small business - here here! The early vision... Brandon Vlaar, Co-founder and CTO of Lending Loop sharing their good news! CONGRATS to the entire Lending Loop Team for achieving this latest milestone.  We've 'got your back' and look forward ...
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Lending Loop passes 50 million - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
NCFA Guest Post | Sep 9, 2019 The world was shook when online money was first introduced. Some people didn’t like the idea. They’d prefer having something tangible, something that they can actually see and touch to use as currency. Some people were positive about the new experience. They believe that it can certainly make life more convenient. But hey, we’re now in 2019 and online currency is still widely in use. In fact, its uses have expanded way more since it was first introduced (read more). One of the most popular and controversial of its time was BTC or Bitcoin. Even without studying cryptocurrencies, you’ve probably heard this term once or twice before. You may have come across it in the internet or someone may have encouraged you to try trading it. After all, when cryptocurrency was first brought to light, many people saw its potential in the trading market. And it has been making noise ever since. See:  New Regulatory Framework for Canadian Retail Payments Coming in 2019 At first, Bitcoin was surrounded with a lot of controversy – and of course, a lot of doubt. People were scared of exchanging real world money for something that you ...
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digital tokens and coins - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
Holt Accelerator | Samah El Falah | Sep 11, 2019 Holt Deal Day event series are seeking senior representatives of financial institutions, or fintech investors and experts to attend Holt’s Deal Day, taking place at Vancouver (Sept. 20th), Toronto (Sept. 23rd), Waterloo (Sept. 27th), Montreal (October, 2nd). Don’t miss out on the opportunity to interact with eight up & coming Fintech stars who will surely make a difference in Canada and beyond. As an investor, corporate or expert interested in Fintech, our Deal Days offer you an insider’s view of the upcoming trends and current challenges the industry is facing. What do the Deal Days consist of? Coffee / Registration (30 minutes) Canada Fintech Presentation by Holt (15 minutes)  Presentation on the current Fintech Ecosystem. The challenges & insights we gathered about 3 core fintech areas: Cybersecurity/Data Protection, Wealth Management (including Digital Assets), & Lending. 10 table mini-breakout session (30 minutes) Detailed roundtable discussions surrounding one of the topics covered during the Holt presentation. Speed-Dating (2 hours and 30 minutes) You will have the opportunity to see the 2019 cohort pitch after being part of the Accelerator program for a month. Just like our Selection Days, each pitch will end ...
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Holt deal days 2019 - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
Reuters | Tom Wilson | Sep 11, 2019 LONDON (Reuters) - “Hi guys, could you please show me a firm bid for 100 bitcoin?” a seller texts on Skype. Joel Fruhman, right, and Dan Fruhman, directors of BCB Group pose for a photograph in London, Britain August 29 2019. REUTERS/Simon Dawson “One sec. $10270.” Two minutes later: “Sorry guys, that was an old order from Friday when skype wasn’t working.” “I really think we should get off skype. Bad things could happen. Someone is going to make an expensive mistake.” See:  New money-laundering rules change everything for cryptocurrency exchanges A messaging exchange over a potential $1 million deal, between a European asset manager looking to sell bitcoin and broker Joel Fruhman, illustrates the casual and often chaotic nature of cryptocurrency dealmaking. Trades involving hundreds of thousands, or millions, of dollars are routinely struck via brief chats on apps like Skype, WhatsApp, WeChat or Zoom, often with scant certainty over the identities of participants or the legal basis of agreements. “We’d end up in a Zoom call with about five ‘introducers’ - we didn’t really know who any of them were,” said Fruhman, a physicist by training who started a cryptocurrency ...
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BCB group directors - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property

 

Latest West Coast Tourism Location, Squamish Canyon, Opens Up Investment to the Community by Equity Crowdfunding to Create an All Ages All Weather Experience through Amazing Canyons and Waterfalls

FrontFundr Release | Victoria Bennett | Oct 31, 2018

Squamish canyon 1 - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet propertyAs Squamish, on B.C.'s busy west coast, cements its reputation as the Outdoor Capital of Canada, it opens up a challenge, what do you do if you can't or don't want to do extreme sports?

SQUAMISH, BC, October 31, 2018 /24-7PressRelease/ -- Squamish sits between two of the biggest tourist destinations in Canada – Vancouver, B.C. and Whistler, B.C. and is quickly becoming a destination itself. The Squamish tourism market has been growing at an amazing rate, even faster than B.C.'s tourism market as a whole. In 2017, there was a total of 5,713,926 overnight international visitor arrivals to the province, including 3,691,074 visitors from the US, 1,277,878 from Asia Pacific. The government has been putting more and more resources into attracting tourists to this amazing part of the world and the investment is paying off – in B.C., the tourism gross domestic product grew more rapidly in 2016 than all other industries combined.

Many of the activities in and around Squamish are designed specifically for the extreme sports enthusiast and very able outdoors people, even the hiking is difficult. The Sea to Sky Gondola (constructed in 2014) is one of the only attractions in the Squamish area that caters to visitors of all abilities. Additional attractions and activities that all levels and abilities can enjoy are needed in this area, to address the surge in visits by local and international tourists. Robin Sherry, founder and project lead of Squamish Canyon has met with the different levels of government from the city to roads to parks and first responders and they are all struggling to keep up with the rate of tourism growth in the region. There is still a need for investment and support by the government to the Parks, but there is also a need for private industry to play its role.

See:  Join us Nov 29-30 at the 4th annual VanFUNDING 2018: CONVERGE conference!

As the area has grown through tourism the community has grown too and having alternative activities for both tourists and the community that are safe, all weather and all ages has become paramount.

Working closely with the logging community and industry in the area, Squamish Canyon is preserving 26 acres of forest and creating low impact activities including interpretive forest and canyon walks, playground and entertainment area. Five years in the planning, Sherry is working with local businesses and contractors with international and local experience to have Squamish Canyon ready to open in Summer, 2019.

Robin Sherry commented, "I've lived in Squamish for over ten years and seen the huge growth in tourism but also the growth in the town. I am very involved in the outdoor community, but I also want everyone to be able to participate in this stunning location. Participation means a number of things; to be able to walk safely through temperate rainforest and understand the history ,culture and ecology, to bring local businesses in as suppliers, to create meaningful jobs that enable people to live in Squamish and to open up the investment to the community, so people can benefit from revenues made by Squamish Canyon."

Squamish Canyon launched their equity crowdfunding campaign on Canada's largest investment crowdfunding platform, FrontFundr on Tuesday, October 30th. Canadians can invest from $250 on the platform. Prior to launch, nearly $300,000 has already been reserved by investors.

Key Data
- Approximately 7.6 million people drive the Sea to Sky Highway per annum; 60 – 70% of those are estimated to be visitors to the area.
- Squamish Canyon is located 65 km from Whistler BC, which sees approximately 2.7 million visitors annually.
- Squamish Canyon is nestled in the Coastal Mountains at the end of the Howe Sound surrounded by fjords and waterfalls in beautiful British Columbia, Canada. The canyon is a few minutes off the spectacular Sea to Sky Highway, close to the world famous Stawamus Chief (340,000 visitors annually), Shannon Falls Provincial Park (475,000 visitors annually) and the Sea to Sky Gondola (400,000 visitors annually).
- The Sea to Sky Gondola sees approximately 400,000 visitors annually and far exceeded its highest visitor projections in the first year of operations. An estimated 80% of gondola visitors were specifically coming to the area to ride the gondola and not just passing through on the way to Whistler (Kirby Brown, General Manager, Sea to Sky Gondola).
Squamish Canyon will be located 62 km from Capilano Suspension Bridge, North Vancouver, BC – over 800,000 visitors annually
- The focus for Tourism Squamish is currently on attracting multi-generational tourists from the Lower Mainland (Lesley Weeks, Executive Director of Tourism Squamish)

See:  Fans donate over $500K to Vancouver’s independent Rio Theatre so it can buy its own space

For more information or to arrange an interview contact Victoria Bennett victoria@bmwconsults.com (403) 589 7992

Full details of the offering can be found in the Offering Memorandum. This document is for information purposes only. Please consult your finance professional before making an investment.

Squamish Canyon is a proposed destination addressing the Sea to Sky Corridor's critical lack of engaging, safe, and fun experiences for visitors of all ages. British Columbia's Highway 99 from Horseshoe Bay to Lillooet (known as the Sea to Sky Highway) links Metro Vancouver with Whistler and Squamish, BC. It is one of the busiest tourist highways in Canada, with day parks along the route seeing up to 900,000 visitors per year. And for those without advanced abilities, it's a destination they cannot fully experience.

Mamquam Adventures Inc, a local company with world-class partners, is changing that, designing a year-round, all-weather experience; one that can be enjoyed by the local 'big kids', parents with toddlers, grandma and grandpa, and almost anyone in between on the Vancouver - Squamish - Whistler highway.

At Squamish Canyon, you will be immersed in the natural beauty of the place named "Mother of Wind", walking over waterfalls, along the edge of canyon walls, and through a majestic rainforest on boardwalks, bridges, and suspended walkways, an experience only a whitewater kayaker or climber could previously enjoy. Along the journey, visitors will learn about local ecosystems, glacial water systems, outdoor safety, the history of the land and the First Nations of the area, as well as safety and conservation.

Mamquam Adventures Inc. values environmental and social sustainability, public transparency, and accountability. The company intends to balance growth and purpose in creating Squamish Canyon. The project brings together industry and tourism, diversifying the economy of the area, and creating a place for the local community and visitors to revel in the natural, rustic beauty of Canada's outdoor recreation capital.

Squamish Canyon. A destination waiting.

Source:  view release


NCFA Jan 2018 resize - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet propertyFF Logo 400 v3 - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet propertycommunity social impact - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
NCFA Fintech Confidential Issue 2 FINAL COVER - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property

FCA | Sep 11, 2019 Speech by Christopher Woolard, Executive Director of Strategy and Competition at the FCA, delivered at the Cambridge Centre for Alternative Finance annual conference, Judge Business School. Highlights: The UK has led the rest of the world with developments like the regulatory Sandbox, we are very proud of what has been achieved through it. Early engagement is incredibly valuable for monitoring, supervisory and policy purposes. Working with innovative firms helps us achieve a better bird’s-eye view, enhancing our understanding when the overall landscape is blurry and ­changing quickly. 'Stablecoin' is a term that has been widely adopted by industry, but we do not take it to be a distinct category of cryptoassets. Something labelled as a 'stablecoin' could sit within or outside of our regulatory perimeter. Note: this is the speech as drafted and may differ from the delivered version. See:  FCA confirms new rules for P2P platforms Last month, Facebook announced its plans for Libra, the stablecoin it is planning to launch in conjunction with a number of payment and tech firms. As has been widely reported, along with other regulators and central banks, we have been discussing their plans with Facebook. If this comes ...
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Christopher Woolard2 - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
NCFA Canada | Sep 13, 2019 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Sep 13: Funding is Female with Jill Earthy EP37 GUEST: JILL EARTHY, Head of Female Funders (Linkedin) HOST: Manseeb Khan, Fintech Friday's show host BIO:  Jill Earthy is an entrepreneurially minded leader who believes diversity drives innovation. As Head of Female Funders (powered by Highine BETA), she is empowering female leaders to become investors in early stage companies. Her background includes being an entrepreneur, supporting entrepreneurs in various leadership roles and working as Chief Growth Officer of FrontFundr, an online investment platform. She is a community leader and active mentor, currently serving on the national Board of Sustainable Development Technology Canada and as Board Chair of the Women’s Enterprise Centre in BC, and as Co-Chair of We for She. Jill was recently recognized by the Canadian Centre for Diversity and Inclusion award as a Community Champion, by Business in Vancouver as an Influential Woman in Business and by WXN as one the Top 100 most powerful women in Canada in 2019. About this episode:  On this episode of NCFA'S Fintech Fridays Podcast, our host Manseeb Khan sits down with Jill Earthy the Head of Female Funders. The talk about what ...
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FF EP37 female funders 1 - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
TechCrunch | Kate Clark | Sep 12, 2019 Affirm, founded by PayPal’s Max Levchin, is said to be raising as much as $1.5 billion in a combination of debt and equity, according to people with knowledge of the company’s fundraising activities. Josh Kushner’s New York venture capital firm Thrive Capital is said to be leading the financing, with participation from the San Francisco outfit Spark Capital. Affirm declined to comment. Representatives of Thrive and Spark, existing Affirm investors, have not responded to a request for comment. Sources familiar with Affirm, which gives consumers an alternative to personal loans and credit by financing online purchases at point-of-sale, presume the round will be made up largely of a line of credit from a large financial institution, known as a warehouse facility. Affirm recently raised a $300 million Thrive-led Series F round in April at a valuation of $3 billion. Fintech companies focused on payments and lending, however, require a vast amount of capital to sustain operations. Those capital requirements coupled with the frothiness of the venture capital market justify this additional cash infusion. To date, Affirm has raised $1.03 billion in funding from Ribbit Capital, Founders Fund, Andreessen Horowitz, Khosla Ventures, Lightspeed ...
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max levchin - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
Le Monde with AFP | Sep 12, 2019 Bruno Le Maire expressed his hostility towards this cryptocurrency project, saying that "the monetary sovereignty of states is at stake" Finance Minister Bruno Le Maire announced on Thursday (September 12th) that France was refusing to authorize the development "on European soil" of libra, the cryptocurrency that Facebook wants to launch in 2020. "Considerable financial disorder" "The monetary sovereignty of states is at stake," said the minister at the opening of a conference of the Organization for Economic Co-operation and Development (OECD) dedicated to the challenges of cryptocurrencies - without specifying, however, what concrete measures he wanted engage to prevent the spread of libra in Europe. See:  Facebook’s Libra Cryptocurrency: Everything We Know In his speech, Bruno Lemaire described as "systemic" the risks that could result from this "possible privatization of a currency (...) held by a single actor that has more than 2 billion users on the planet" . "Any failure in the functioning of this currency, in the management of its reserves, could create considerable financial disorders , " justified the Mayor, also fearing that the libra is replacing the national currency in the States where the currency is weak or ...
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Bruno Le Maire Minister Finance of France vows to block facebooks libra - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
CNBC | Bob Pisani | Sep 10, 2019 Key Points The head of the SEC says more needs to be done to make it easier for companies to go public. Jay Clayton says his office is taking a “fresh look” at allowing Main Street investors access to the private capital markets. The head of the SEC says more needs to be done to make it easier for companies to go public and that his office is taking a “fresh look” at allowing Main Street investors access to the private capital markets. In a speech to the Economic Club of New York on Monday, SEC Chairman Jay Clayton said the lack of more IPOs and the inability of most of the Main Street investing public to access private markets was a “growing concern.” Clayton addressed what he called the “two segments” in capital markets: the public markets, and private ones, including private equity and venture capital investments. See:  The Solution To The Fintech IPO Shortage “Twenty-five years ago, the public markets dominated the private markets in virtually every measure,” he said. “Today, in many measures, the private markets outpace the public markets, including in aggregate size.” Clayton wants to make the ...
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Nesta UK | Rosalyn Old and Johnathan Bone | Sep 4, 2019 Earlier in May 2019, Nesta commissioned a report called 'Taking Ownership:  Community Empowerment through Crowdfund Investments' that looked at how community-led projects have the power to transform local areas socially, economically and environmentally and how institutions such as local governments, municipal authorities and foundations, can help community-led initiatives by making the most of new investment crowdfunding models (eg community shares and bonds). Key Findings Investment crowdfunding has been used to fund a broad range of local assets, including but not limited to, saving local shops and pubs from closure, creating new community centres and art spaces, and expanding leisure facilities and infrastructure projects. Potential opportunities in using investment crowdfunding for community-led initiatives include helping to fund projects that would otherwise struggle to access finance elsewhere, increasing the use of and volunteering for community initiatives, and strengthening local resilience and self-determination by bringing communities together to improve their area. The main challenges for community organisations raising money in this way include gaining access to assets to buy or use on a temporary basis, transitioning from grassroots fundraising to implementing a project and avoiding negative impacts on diversity and inclusion ...
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taking ownership community empowerment through crowdfunded investment - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
NCFA Canada on behalf of our partner's Lending Loop | Sep 11, 2019 HAVE YOU EVER SEEN A CHESHIRE CAT SMILE? Well they deserve it. Back in October 2015, NCFA made this introductory video with Cato Pastoll, CEO and Co-Founder of Lending Loop, about a peer to peer lending marketplace for small businesses model that was new to Canada but was achieving significant growth internationally. The question and opportunity was back then:  why not here in Canada? A question that many of us ask ourselves, ask the community and point fingers at strict regulations and high operating costs.  Well fast forward several years and growth obstacles later, and the Lending Loop story continues to impress with their latest milestone of lending over $50 million to deserving small businesses to help them grow and expand operations while providing retail and accredited investors direct access to a wide range of lending and investment options, a robust community and the chance to strengthen Canadian small business - here here! The early vision... Brandon Vlaar, Co-founder and CTO of Lending Loop sharing their good news! CONGRATS to the entire Lending Loop Team for achieving this latest milestone.  We've 'got your back' and look forward ...
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NCFA Guest Post | Sep 9, 2019 The world was shook when online money was first introduced. Some people didn’t like the idea. They’d prefer having something tangible, something that they can actually see and touch to use as currency. Some people were positive about the new experience. They believe that it can certainly make life more convenient. But hey, we’re now in 2019 and online currency is still widely in use. In fact, its uses have expanded way more since it was first introduced (read more). One of the most popular and controversial of its time was BTC or Bitcoin. Even without studying cryptocurrencies, you’ve probably heard this term once or twice before. You may have come across it in the internet or someone may have encouraged you to try trading it. After all, when cryptocurrency was first brought to light, many people saw its potential in the trading market. And it has been making noise ever since. See:  New Regulatory Framework for Canadian Retail Payments Coming in 2019 At first, Bitcoin was surrounded with a lot of controversy – and of course, a lot of doubt. People were scared of exchanging real world money for something that you ...
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Holt Accelerator | Samah El Falah | Sep 11, 2019 Holt Deal Day event series are seeking senior representatives of financial institutions, or fintech investors and experts to attend Holt’s Deal Day, taking place at Vancouver (Sept. 20th), Toronto (Sept. 23rd), Waterloo (Sept. 27th), Montreal (October, 2nd). Don’t miss out on the opportunity to interact with eight up & coming Fintech stars who will surely make a difference in Canada and beyond. As an investor, corporate or expert interested in Fintech, our Deal Days offer you an insider’s view of the upcoming trends and current challenges the industry is facing. What do the Deal Days consist of? Coffee / Registration (30 minutes) Canada Fintech Presentation by Holt (15 minutes)  Presentation on the current Fintech Ecosystem. The challenges & insights we gathered about 3 core fintech areas: Cybersecurity/Data Protection, Wealth Management (including Digital Assets), & Lending. 10 table mini-breakout session (30 minutes) Detailed roundtable discussions surrounding one of the topics covered during the Holt presentation. Speed-Dating (2 hours and 30 minutes) You will have the opportunity to see the 2019 cohort pitch after being part of the Accelerator program for a month. Just like our Selection Days, each pitch will end ...
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Holt deal days 2019 - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
Reuters | Tom Wilson | Sep 11, 2019 LONDON (Reuters) - “Hi guys, could you please show me a firm bid for 100 bitcoin?” a seller texts on Skype. Joel Fruhman, right, and Dan Fruhman, directors of BCB Group pose for a photograph in London, Britain August 29 2019. REUTERS/Simon Dawson “One sec. $10270.” Two minutes later: “Sorry guys, that was an old order from Friday when skype wasn’t working.” “I really think we should get off skype. Bad things could happen. Someone is going to make an expensive mistake.” See:  New money-laundering rules change everything for cryptocurrency exchanges A messaging exchange over a potential $1 million deal, between a European asset manager looking to sell bitcoin and broker Joel Fruhman, illustrates the casual and often chaotic nature of cryptocurrency dealmaking. Trades involving hundreds of thousands, or millions, of dollars are routinely struck via brief chats on apps like Skype, WhatsApp, WeChat or Zoom, often with scant certainty over the identities of participants or the legal basis of agreements. “We’d end up in a Zoom call with about five ‘introducers’ - we didn’t really know who any of them were,” said Fruhman, a physicist by training who started a cryptocurrency ...
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BCB group directors - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property

 

Tech Spark launches crowdfunding campaign to support tech summer camp for underrepresented youth

Betakit | | May 24, 2018

crowdfunding campaign summer camp - Tech Spark launches crowdfunding campaign to support tech summer camp for underrepresented youth

Tamar Huggins, the founder and executive director of Tech Spark, a Toronto-based tech and design school that aims to empower girls and children of colour through tech education, has launched a crowdfunding campaign to raise $50,000 for its Summer of INNOVATION program.

The Summer of INNOVATION is a summer camp that will allow Tech Spark to teach 100 children from underserved communities in the Greater Toronto Area how to create 100 tech-based projects this summer. Throughout the summer, students will learn how to build and fly their own drones, create mobile apps, create chatbots, build a multi-page website, create a 2D game, and create music and build movable contraptions through virtual reality.

The campaign expands on the tech and design school’s goal to increase the representation of women and people of colour in Canada’s tech ecosystem.

The goal is to create a pipeline that engages and supports underserved children and enables them to become creators and innovators. According to Tamar Huggins, the Summer of INNOVATION supports Tech Spark’s mission of creating an inclusive and diverse tech community.

The campaign expands on the tech and design school’s goal to increase the representation of women and people of colour in Canada’s tech ecosystem, tackling the issue of women and people of colour avoiding STEM careers due to gender and racial stereotypes.

Huggins said the Summer of Innovation campaign can help remove barriers to innovation education for youth in the GTA and close the divide that exists for many girls and children of colour in Canada.

“Tech Spark launched this campaign to meet the overwhelming demand for our programs and to expand our reach into more high-needs neighbourhoods in Toronto and Durham region,” said Huggins.

“We want to engage new students with innovative programs they do not have access to either financially or locally. I don’t believe finances or location should be a barrier to education. Our hope is that together, we change the trajectory of each child we encounter. Many students come to our programs excited, but not sure of their own abilities. We want each student to graduate with a new sense of self-efficacy and higher levels of self-confidence.”

See:  Here’s what motivates a crowdfunding investor to back a campaign

Tech Spark says the fundraised $50,000 will be used to invest in equipment that can be reused for future Summer of INNOVATION programs; to cover the cost to sponsor each child for six weeks of summer camp; provide honourariums and cover travel expenses for the program’s educators and tech mentors; and cover the cost of class materials.

Tech Spark has raised $1,375 to date and its campaign is open for seven more days. Check out the Summer of INNOVATION’s Indiegogo campaign here.


NCFA Jan 2018 resize - Tech Spark launches crowdfunding campaign to support tech summer camp for underrepresented youthThe National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry.  Join Canada's Fintech & Funding Community today FREE!  Or become a contributing member and get perks. For more information, please visit:  ncfacanada.org