Tech Startups in Line to Benefit from Senate Backed Crowdfunding Bill
Mar 23, 2012, 09:51 ET
MOUNTAIN VIEW, California, March 23, 2012 /PRNewswire/ --
Innovative Crowdfunding Platform Seedups Leads the Way
House to discuss further next week
A measure that will make it easier for tech startups to raise finance passed the US Senate on Thursday.
The so called Crowdfunding Bill, proposed by Republican Senator Brown of Massachusetts and Democratic Senator Michael Bennett of Colorado is now expected to pass through the House and be signed into law by President Obama next week.
The bill will allow startups to raise finance using online platforms and their social networks, and forms part of the JOBS Act, which aims to cut down red tape for US startups and help these companies expand and create jobs in the American Economy, ensuring that it is robust and competitive under increased international pressure.
The passing of the Bill was welcomed by Seedups founder, Michael Faulkner: "This is a great opportunity for innovative companies to get to market quickly and start having a real impact on the American economy."
Seedups is the Intelligent Crowdfunding Platform for technology led Startups to raise money from its crowd of tech-savvy investors.
The company recently launched their American service at SxSW in Austin, Texas. At the same event, Steve Case, the Chairman of Startup America and former CEO of AOL, told people to put pressure on their Senators to ensure that the crowdfunding legislation passed.
Mr. Faulkner continued "We're well aware of how important crowdfunding can be to the American and worldwide economy, and we've been working hard to build a platform that helps entrepreneurs get the funding they need and also allows investors to come together to conduct due diligence and make informed investment decisions."
Seedups is at the forefront of the crowdfunding movement, with offices in the USA, UK and Ireland. Since launching in February 2011, it has attracted over 1200 tech-entrepreneurs seeking to raise money through crowdfunding.
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