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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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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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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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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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

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BIS | Agustín Carstens | Nov 14, 2019 Keynote speech by Mr Agustín Carstens, General Manager of the BIS, at the 55th SEACEN Governors' Conference and High-level Seminar on "Data and technology: embracing innovation", Singapore, 14 November 2019. Introduction It is a great honour to address this distinguished audience today. We meet against the backdrop of the Singapore Fintech Festival and the opening, here in Singapore, of one of the first three BIS Innovation Hub Centres. Singapore has positioned itself as a centre of innovation, research and development at the heart of the world's most dynamic economic region.1 The impressive achievements in fintech relate in no small part to the work of the Monetary Authority of Singapore (MAS) and Singaporean authorities in creating a solid public infrastructure to foster innovation. This morning, I will discuss the role of personal data in digital financial innovation. The use of new technology with such data holds great promise, but it also presents new and complex policy trade-offs, and a clear need for domestic and international policy coordination. I would also like to share some thoughts on how the work of the BIS can contribute to this debate. The value of personal data Personal ...
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BIS Agustín Carstens - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
Canadian Securities Administrators | Nov 12, 2019 Montreal and Singapore - Members of the Canadian Securities Administrators (CSA) have signed a fintech co-operation agreement with the Monetary Authority of Singapore (MAS). The members are the securities regulatory authorities in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Québec and Saskatchewan. The agreement extends the work of the CSA Regulatory Sandbox Initiative and the MAS Fintech and Innovation Group. Notably, it includes a referral mechanism for innovative businesses, and will enhance and clearly define information-sharing between these jurisdictions. “This agreement with MAS will allow innovative businesses in Canada and Singapore access to new regulated markets,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “Flexible regulatory environments with appropriate investor protection measures are best-placed to support the rapidly growing fintech industry.” “Singapore and Canada are no strangers in fintech collaboration. MAS and Bank of Canada had collaborated on a project to explore cross-border payments transactions on blockchain. This co-operation agreement will strengthen our co-operation between the 2 countries, specifically in developing innovative solutions for the securities sector,” said Sopnendu Mohanty, Chief FinTech Officer, MAS. The co-operation agreement exchange ceremony was held at the Canadian Pavilion ...
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CSA enter - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
Finextra | Nov 6, 2019 Non-banks now account for a quarter of the institutions offering payment services or payment instruments, up from 14% in only six years, according to a fresh batch of statistics from the Bank for International Settlements. The data comes from the Basle-based BIS's annual Red Book report on payments and financial infrastructures. It reveals increasing incursions by non-bank competitors into both retail and wholesale payments. "The traditional bank-based ecosystem is being disrupted from below by fintechs and from above by well established big techs," states the report. "When asked which financial products and services are most affected by technological developments and competition, banks often rank payments the highest - both today and over the next five years." Non-bank providers now account for 10% of direct participants in RTGS systems in jursidictions covered by the BIS-convened Committee on Payments and Market Infrastructures. In contrast, non-banks accounted for only four percent in 2012. The payments landscape continues to morph, says the BIS: "Driven by innovation and shifts in consumer preferences, new systems, new methods and new players are shaping the future of payments." The report also checks in on the drive towards a cashless society. It finds the ...
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changing landscape payments - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
CNBC | Jeff Cox | Nov 13, 2019 Key Points Google plans to offer checking accounts next year. The project, code-named Cache, will be run in conjunction with Citigroup and the Stanford Federal Credit Union. Google will offer checking accounts next year, according to a source familiar with the company’s plans, representing Big Tech’s boldest move yet into the consumer banking business. Most previous efforts have focused on credit cards and payment platforms. The accounts for the project will be run by Citigroup and the Stanford Federal Credit Union, the source said, confirming a report in The Wall Street Journal. As part of a project code-named Cache, the company will become the latest Silicon Valley leader to try its hand at the banking space. Previous attempts by Apple and Facebook faced obstacles, with consumers growing increasingly skeptical over providing large technology companies with their personal information. Google does not intend to sell customers’ data, Caesar Sengupta, an executive at the firm, told the Journal. “If we can help more people do more stuff in a digital way online, it’s good for the internet and good for us,” Sengupta said. For years, banks had been concerned about competition from small, nimble ...
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big tech unable to self regulate - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
11fs Pulse | Joanne Kumire | Aug 27, 2019 Introduction to Open Banking in the UK The first step towards banking automation came in 1967 following the installation of an ATM in the UK. Over 50 years later, Open Banking arrived, ushering in a new era of digital banking, which ironically is lessening the need for ATMs. It is no secret that the financial industry was in dire need of a makeover, I mean except for a few bankers (if that), no-one really understood how most of banking worked even though it plays an integral role in our everyday lives. The 2008 global financial crisis was evidence of that and this disaster led to a review of regulations, from which Open Banking – the first enactment of PSD2 – was birthed. Since January 2018, we have heard a lot about Open Banking, the regulation that has released the financial data of consumers from the banks’ ownership and into the hands of consumers. That means regulated banks in the UK are now required to let customers share their transaction data such as spending habits and regular payments with authorised third-party providers (TPPs) offering other services – as long as the customer ...
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Artemis | Steve Evans | Nov 7, 2019 A blockchain based parametric weather insurance product has made its first payouts, after severe weather impacted smallholder farmers covered by the product in Sri Lanka. The parametric insurance was launched in a pilot phase a year ago, as Oxfam in Sri Lanka teamed up with insurance and reinsurance broker Aon and insurtech blockchain solutions provider Etherisc, alongside local insurer Sanasa, to deliver a responsive risk transfer solution that could be rolled out affordably in developing regions, with the goal of making automated payouts to smallholder farmers when extreme weather conditions occurred. The pilot launched with around 200 farmers enrolled that were exposed to the risk of losing their crops due to extreme weather. After the first year, the system has made some pay-outs to farmers in this initial operations phase, the parties behind the product announced. Now, the parties involved will move onto the next phase of the project as cropping season starts in November, seeking to solve any issues raised during the pilot with the goal of refining the system’s efficiency and increasing the scale the number of farmers that will benefit from the parametric microinsurance. “We are proud to have ...
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blockchain use cases3 - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
Mylo | Ted Liu | Nov 5, 2019 Mylo Raises $10M Series A From Major Canadian Financial Institutions Montreal, November 5, 2019 – Mylo, the Montreal-based fintech, has secured $10M in financing for its app that helps Canadians automate their saving and investing. The Series A round was led by National Bank’s corporate venture capital arm, NAventures, with follow-on investment from Desjardins Capital, Ferst Capital Partners and Tactico. This brings the company’s total funding up to $14M. “Mylo’s mission has always been to help Canadians achieve their financial goals. With over 450,000 Canadians creating accounts to save and invest on our platform in only two years, we know we’re on the right track,” said Mylo Founder and CEO, Phil Barrar. “This investment from important strategic partners lets us start the next phase of our mission. Our team is focused on building innovative new products to help Canadians overcome any financial roadblocks that stand in the way of their goals.” The investment by National Bank reinforces the institution’s commitment to innovation. “We see great alignment between Mylo’s mission and our own focus on providing individuals with the digital tools they need to manage their finances,” said Igal Ohayon, Director of Venture ...
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Osgoode Professional Development York University | Nov 2019 Strictly Legal, an Osgoode Professional Development podcast, is about all things legal. Each episode, we unpack current issues affecting the legal landscape with the help of some of the industry's leading thinkers. Heated fights over intellectual property are nothing new in promising technology markets. Are we poised for a revolution in the protection of all types of IP?  The blockchain can be used to control and track the distribution of protected IP.  Imagine a world where you could easily register and claim ownership over your original creative works – from music to photos to blogs. With the use of blockchain technology, that world is not so far away. As the world reacts to the current blockchain mania, many businesses in the community are having discussions on what the future of innovation in the blockchain space looks like. This week's guest: Paul Horbal, Bereskin Parr (@horbal) BIO:  Paul Horbal is a partner with Bereskin & Parr LLP. He is a member of the firm’s Electrical & Computer Technology group and is Chair of the Financial Technology group. His practice focuses on patent, industrial design and technology law, with an emphasis on securing and leveraging ...
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OsgoodePD Podcast Strictly Legal - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
Reuters | Sharon Lam | Nov 8, 2019 Recession gatecrashes Hong Kong’s fintech party HONG KONG (Reuters Breakingviews) - Hong Kong’s economic travails are an unwelcome guest in the city’s fintech party. Enthusiasm for online-only banks was palpable at the Fintech Week conference. Yet months of political unrest have hit small businesses, and the added risks may delay local launches by the likes of Standard Chartered and Tencent. Attendees this week descended on Hong Kong’s Lantau Island for the financial hub’s fourth annual gathering. With appearances from top officials like Financial Secretary Paul Chan to executives at Singapore’s $14 billion Grab and other rising stars, there was plenty of buzz. Hot topics included central bank digital currencies and cross-border payments. See:  News on China cryptocurrency and more reforms Virtual banks, as these branchless outfits are known in Hong Kong, took centre stage. Earlier this year, Hong Kong authorities granted eight licenses for such firms to offer payments, deposits and other services, in a long overdue shakeup. HSBC, Bank of China Hong Kong, Hang Seng Bank and Standard Chartered account for some three-quarters of the city’s mortgages and two-thirds of retail loans. Online challengers, including a joint venture between Chinese handset ...
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HK - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
TLT Solicitors | Daniel Lloyd | Sept 2019 Who is liable when AI goes wrong? Let us take the example of Tesla, whose vehicles have been involved in two similar fatal crashes since 2016. In both cases the vehicle failed to see a lorry cross its path and travelled into the lorry shearing off the top of the car, thereby causing both drivers to suffer fatal injuries. Should Tesla be liable for the crash? At what point should a driver no longer have any liability for what the car is doing? At the moment the Department of Transport in the USA adheres to the automation standards set out by the SAE which run from “level 0” (no automation) to “level 6” (full automation). It is accepted that Tesla’s Autopilot driverless software system is no more than a level 2 or 3 on this scale, both of which require the driver to remain in control of the vehicle when driving. So from a public law perspective at least, Tesla is not being held liable for the two crashes that occurred if, as appears to be the case, the drivers were not in control of the vehicles at the time they crashed ...
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intellectual property and AI - 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

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BIS | Agustín Carstens | Nov 14, 2019 Keynote speech by Mr Agustín Carstens, General Manager of the BIS, at the 55th SEACEN Governors' Conference and High-level Seminar on "Data and technology: embracing innovation", Singapore, 14 November 2019. Introduction It is a great honour to address this distinguished audience today. We meet against the backdrop of the Singapore Fintech Festival and the opening, here in Singapore, of one of the first three BIS Innovation Hub Centres. Singapore has positioned itself as a centre of innovation, research and development at the heart of the world's most dynamic economic region.1 The impressive achievements in fintech relate in no small part to the work of the Monetary Authority of Singapore (MAS) and Singaporean authorities in creating a solid public infrastructure to foster innovation. This morning, I will discuss the role of personal data in digital financial innovation. The use of new technology with such data holds great promise, but it also presents new and complex policy trade-offs, and a clear need for domestic and international policy coordination. I would also like to share some thoughts on how the work of the BIS can contribute to this debate. The value of personal data Personal ...
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BIS Agustín Carstens - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
Canadian Securities Administrators | Nov 12, 2019 Montreal and Singapore - Members of the Canadian Securities Administrators (CSA) have signed a fintech co-operation agreement with the Monetary Authority of Singapore (MAS). The members are the securities regulatory authorities in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Québec and Saskatchewan. The agreement extends the work of the CSA Regulatory Sandbox Initiative and the MAS Fintech and Innovation Group. Notably, it includes a referral mechanism for innovative businesses, and will enhance and clearly define information-sharing between these jurisdictions. “This agreement with MAS will allow innovative businesses in Canada and Singapore access to new regulated markets,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “Flexible regulatory environments with appropriate investor protection measures are best-placed to support the rapidly growing fintech industry.” “Singapore and Canada are no strangers in fintech collaboration. MAS and Bank of Canada had collaborated on a project to explore cross-border payments transactions on blockchain. This co-operation agreement will strengthen our co-operation between the 2 countries, specifically in developing innovative solutions for the securities sector,” said Sopnendu Mohanty, Chief FinTech Officer, MAS. The co-operation agreement exchange ceremony was held at the Canadian Pavilion ...
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CSA enter - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
Finextra | Nov 6, 2019 Non-banks now account for a quarter of the institutions offering payment services or payment instruments, up from 14% in only six years, according to a fresh batch of statistics from the Bank for International Settlements. The data comes from the Basle-based BIS's annual Red Book report on payments and financial infrastructures. It reveals increasing incursions by non-bank competitors into both retail and wholesale payments. "The traditional bank-based ecosystem is being disrupted from below by fintechs and from above by well established big techs," states the report. "When asked which financial products and services are most affected by technological developments and competition, banks often rank payments the highest - both today and over the next five years." Non-bank providers now account for 10% of direct participants in RTGS systems in jursidictions covered by the BIS-convened Committee on Payments and Market Infrastructures. In contrast, non-banks accounted for only four percent in 2012. The payments landscape continues to morph, says the BIS: "Driven by innovation and shifts in consumer preferences, new systems, new methods and new players are shaping the future of payments." The report also checks in on the drive towards a cashless society. It finds the ...
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changing landscape payments - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
CNBC | Jeff Cox | Nov 13, 2019 Key Points Google plans to offer checking accounts next year. The project, code-named Cache, will be run in conjunction with Citigroup and the Stanford Federal Credit Union. Google will offer checking accounts next year, according to a source familiar with the company’s plans, representing Big Tech’s boldest move yet into the consumer banking business. Most previous efforts have focused on credit cards and payment platforms. The accounts for the project will be run by Citigroup and the Stanford Federal Credit Union, the source said, confirming a report in The Wall Street Journal. As part of a project code-named Cache, the company will become the latest Silicon Valley leader to try its hand at the banking space. Previous attempts by Apple and Facebook faced obstacles, with consumers growing increasingly skeptical over providing large technology companies with their personal information. Google does not intend to sell customers’ data, Caesar Sengupta, an executive at the firm, told the Journal. “If we can help more people do more stuff in a digital way online, it’s good for the internet and good for us,” Sengupta said. For years, banks had been concerned about competition from small, nimble ...
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big tech unable to self regulate - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
11fs Pulse | Joanne Kumire | Aug 27, 2019 Introduction to Open Banking in the UK The first step towards banking automation came in 1967 following the installation of an ATM in the UK. Over 50 years later, Open Banking arrived, ushering in a new era of digital banking, which ironically is lessening the need for ATMs. It is no secret that the financial industry was in dire need of a makeover, I mean except for a few bankers (if that), no-one really understood how most of banking worked even though it plays an integral role in our everyday lives. The 2008 global financial crisis was evidence of that and this disaster led to a review of regulations, from which Open Banking – the first enactment of PSD2 – was birthed. Since January 2018, we have heard a lot about Open Banking, the regulation that has released the financial data of consumers from the banks’ ownership and into the hands of consumers. That means regulated banks in the UK are now required to let customers share their transaction data such as spending habits and regular payments with authorised third-party providers (TPPs) offering other services – as long as the customer ...
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Artemis | Steve Evans | Nov 7, 2019 A blockchain based parametric weather insurance product has made its first payouts, after severe weather impacted smallholder farmers covered by the product in Sri Lanka. The parametric insurance was launched in a pilot phase a year ago, as Oxfam in Sri Lanka teamed up with insurance and reinsurance broker Aon and insurtech blockchain solutions provider Etherisc, alongside local insurer Sanasa, to deliver a responsive risk transfer solution that could be rolled out affordably in developing regions, with the goal of making automated payouts to smallholder farmers when extreme weather conditions occurred. The pilot launched with around 200 farmers enrolled that were exposed to the risk of losing their crops due to extreme weather. After the first year, the system has made some pay-outs to farmers in this initial operations phase, the parties behind the product announced. Now, the parties involved will move onto the next phase of the project as cropping season starts in November, seeking to solve any issues raised during the pilot with the goal of refining the system’s efficiency and increasing the scale the number of farmers that will benefit from the parametric microinsurance. “We are proud to have ...
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Mylo | Ted Liu | Nov 5, 2019 Mylo Raises $10M Series A From Major Canadian Financial Institutions Montreal, November 5, 2019 – Mylo, the Montreal-based fintech, has secured $10M in financing for its app that helps Canadians automate their saving and investing. The Series A round was led by National Bank’s corporate venture capital arm, NAventures, with follow-on investment from Desjardins Capital, Ferst Capital Partners and Tactico. This brings the company’s total funding up to $14M. “Mylo’s mission has always been to help Canadians achieve their financial goals. With over 450,000 Canadians creating accounts to save and invest on our platform in only two years, we know we’re on the right track,” said Mylo Founder and CEO, Phil Barrar. “This investment from important strategic partners lets us start the next phase of our mission. Our team is focused on building innovative new products to help Canadians overcome any financial roadblocks that stand in the way of their goals.” The investment by National Bank reinforces the institution’s commitment to innovation. “We see great alignment between Mylo’s mission and our own focus on providing individuals with the digital tools they need to manage their finances,” said Igal Ohayon, Director of Venture ...
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mylo - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
Osgoode Professional Development York University | Nov 2019 Strictly Legal, an Osgoode Professional Development podcast, is about all things legal. Each episode, we unpack current issues affecting the legal landscape with the help of some of the industry's leading thinkers. Heated fights over intellectual property are nothing new in promising technology markets. Are we poised for a revolution in the protection of all types of IP?  The blockchain can be used to control and track the distribution of protected IP.  Imagine a world where you could easily register and claim ownership over your original creative works – from music to photos to blogs. With the use of blockchain technology, that world is not so far away. As the world reacts to the current blockchain mania, many businesses in the community are having discussions on what the future of innovation in the blockchain space looks like. This week's guest: Paul Horbal, Bereskin Parr (@horbal) BIO:  Paul Horbal is a partner with Bereskin & Parr LLP. He is a member of the firm’s Electrical & Computer Technology group and is Chair of the Financial Technology group. His practice focuses on patent, industrial design and technology law, with an emphasis on securing and leveraging ...
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OsgoodePD Podcast Strictly Legal - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
Reuters | Sharon Lam | Nov 8, 2019 Recession gatecrashes Hong Kong’s fintech party HONG KONG (Reuters Breakingviews) - Hong Kong’s economic travails are an unwelcome guest in the city’s fintech party. Enthusiasm for online-only banks was palpable at the Fintech Week conference. Yet months of political unrest have hit small businesses, and the added risks may delay local launches by the likes of Standard Chartered and Tencent. Attendees this week descended on Hong Kong’s Lantau Island for the financial hub’s fourth annual gathering. With appearances from top officials like Financial Secretary Paul Chan to executives at Singapore’s $14 billion Grab and other rising stars, there was plenty of buzz. Hot topics included central bank digital currencies and cross-border payments. See:  News on China cryptocurrency and more reforms Virtual banks, as these branchless outfits are known in Hong Kong, took centre stage. Earlier this year, Hong Kong authorities granted eight licenses for such firms to offer payments, deposits and other services, in a long overdue shakeup. HSBC, Bank of China Hong Kong, Hang Seng Bank and Standard Chartered account for some three-quarters of the city’s mortgages and two-thirds of retail loans. Online challengers, including a joint venture between Chinese handset ...
Read More
HK - Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property
TLT Solicitors | Daniel Lloyd | Sept 2019 Who is liable when AI goes wrong? Let us take the example of Tesla, whose vehicles have been involved in two similar fatal crashes since 2016. In both cases the vehicle failed to see a lorry cross its path and travelled into the lorry shearing off the top of the car, thereby causing both drivers to suffer fatal injuries. Should Tesla be liable for the crash? At what point should a driver no longer have any liability for what the car is doing? At the moment the Department of Transport in the USA adheres to the automation standards set out by the SAE which run from “level 0” (no automation) to “level 6” (full automation). It is accepted that Tesla’s Autopilot driverless software system is no more than a level 2 or 3 on this scale, both of which require the driver to remain in control of the vehicle when driving. So from a public law perspective at least, Tesla is not being held liable for the two crashes that occurred if, as appears to be the case, the drivers were not in control of the vehicles at the time they crashed ...
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intellectual property and AI - 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