DC Startup CrowdCusp Making The Best Of Things Before SEC Regulations

Crowdcusp,crowdfunding,startup,startup interview, dc startupCrowdfunding is a hot topic these days. Hundreds of crowdfunding startups have surfaced over the last few months, patiently waiting as the Securities and Exchange Commission takes their sweet time figuring out regulations.

While crowdfunding is nothing new, the JOBSAct passed last year which will allow people to crowdfund startups for an equity stake without the normal regulations around venture capital and angel investing. Startups will be able to use this form of crowdfunding as a vehicle for up to $1 million dollars in funding, just as soon as the SEC defines the regulations.

This waiting period has put some crowdfunding startups on ice, while others have found ways around regulations without allowing startups to actually give up equity. In some cases prize packs, swag, and other gifts are donated by the company in exchange for someone’s backing. Other times it’s just about feel good donations.

CrowdCusp is a Washington DC based crowdfunding startup that has already started crowdfunding, sans the equity stake.

We got a chance to talk to the team behind CrowdCusp. Check out the interview below.

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Add Your Portfolio To Your LinkedIn Profile With French Startup Dokker

Dokker, French startup, Linked In, startup,startup interviewLinkedIn is undoubtedly one of the most useful tools to connect with people from your work life. However, many users have complained that their LinkedIn profile doesn’t give them an adequate platform to show off their portfolio. This can prove to be an important missing piece for marketers, artists, designers, and even writers.

French startup Dokker is looking to change that by offering a platform for portfolios to sync up with LinkedIn accounts. Dokker is free and allows users to post any kind of document to their online portfolio. Once a user builds a Dokker portfolio they can share it with LinkedIn and also Viadeo, which is LinkedIn’s number one competitor in Europe.

Services like Dokker allow for a much more robust picture of someone’s work life rather than just text and recommendations.

We got a chance to speak with Fred Ducrot, Dokker’s co-founder, General Manager and Product Designer. Check out our interview below.

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Kauffman Foundation Follows Hackanooga’s Footsteps With “Hacking The Gigabit City”

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Over the course of last week’s everywhereelse.co The Startup Conference people saw that Tennessee was a contender in the startup and entrepreneurial space. What some may not realize is that it Chattanooga Tennessee that was the first to offer wall to wall gigabit Ethernet.

Two years ago Chattanooga, the city known for it’s choo-choo, became “The Gig City”. As the gig came online, Chattanooga’s startup leaders like Launch Tennessee CEO Charlie Brock, and CoLab founder Sheldon Grizzle quickly embraced the high speed Internet and developed several startup focused initiatives around it. All the while Google was still vetting out locations.

The first such initiative was The Gig Tank a hybrid accelerator that welcomed not only a cohort of startup teams but students as well. The program ran the entire summer last year and resulted in a student team winning $50,000 and a startup team, Banyan, winning another $100,000 and relocating (at their own accord) to Chattanooga.

This fall the Gig City welcomed a hackathon event that drew developers and hackers from across the country. The event was intimately known as Hackanooga.

Now with its big budget roll out almost complete, Kansas City is starting to embrace some of the ideas already tried and proven in Chattanooga.

Deep rooted startup supporters, the Mozilla Foundation and the Kauffman Foundation have teamed up to bring a hackathon to America’s newest gigabit city, Kansas City.

Both organizations continue to support the efforts in Chattanooga as well.

The Kansas City event is being held March 22-24, 2013. During the 54 hour period participants will hack together apps utilizing and taking advantage of Kansas City’s gigabit fiber

“We are looking for hackers to use the speed of the Google Fiber network to build applications that push the tech envelope forward,” said Cameron Cushman, manager in Entrepreneurship at the Kauffman Foundation. “We are trying to invent the future, and Kansas City is at the forefront of ultra-high-speed internet access. This event is for people who want to work and build something that can truly help others and improve lives.”

The event will begin on Friday, March 22 with dinner and rapid-fire project pitches, culminating with the formation of teams in specific areas, including health care, public safety, education and gaming. The next two days will be focused on designing, creating, making and building. The event concludes on Sunday, March 24 with demos of the applications to a panel of judges.
The applications created during the event could evolve into a submission to the Mozilla Ignite Challenge, which on April 3 will award $250,000 of seed money and mentorship to help the most promising projects get off the ground.

They are offering scholarship for free travel to Kansas City to a limited number of hacker, for consideration you need to apply here by February 26, 2013.

Eh You Need My Guy, Rochester Startup Takes On Angie’s List INTERVIEW

Youneedmyguy,NY startup,Rochester startup,startup,startups,startup interview,founder interview, Joe CassaraNothing says recommendation like when your good buddy says “eh you need my guy”. Whether you’re looking for a plumber, deck builder, photographer, heck even a birth coach. Whatever independent contracting service you need, a new Rochester startup called You Need My Guy has someone for you.

When we first heard about You Need My Guy we immediately drew a comparison to top ranking, publicly traded Indianapolis startup Angie’s List. You Need My Guy’s founder Joe Cassara says that YNMG is different because Angie’s List is a paid model with mostly blue collar providers. They also offer no accountability to insure the identity of users. While Angie’s List is a great resource for some, they are plagued with stories about bad experiences sprinkled all over the internet.

You Need My Guy is the hybrid in the middle. You can find accountants and carpenters on the startups site at youneedmyguy.com

YNMG integrates social networks by allowing perspective clients with links to their perspective service providers Facebook, LinkedIN and Twitter profiles. This way users can vet out their service providers, going a little deeper than traditional reviews and referrals. Review systems can be plagued with fake reviews, created by service providers to “push down” any bad reviews. Of course in the case of referrals most service providers only provide referrals from people who have had the best experiences.

One of the best assets for this New York startup is Cassara himself. He’s thoroughly entrenched in the up state New York startup ecosystem. He has a background in strategic consulting. But what’s more important is that Cassara is also the managing partner of Harvest Ventures an early stage venture-funding firm as well as a mentor at New York accelerator StartFast.

We got a chance to interview Cassara about You Need My Guy. Check out the interview below:

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Black Girls Code Shows Off At EE 2013 A Week Before Launch

Black Girls Code, BCG, Memphis, startup,everywhereelse.co,ee2013By Calvin Carter, University of Memphis Entrepreneurial Journalism Student

Kimberley Bryant grew up in Memphis, but her startup, Black Girls Code, originated in San Francisco, where the biotechnology/engineering professional is currently based. The organization, which aims to teach young women of color ages 7 to 17 skills in computer programming and digital technology, has branched out to other cities before Memphis, including Chicago.  It wouldn’t be until a local architect, Meka Egwuekwe, reached out that the startup would find itself in Memphis.

“I messaged her [Bryant] about it on Twitter,” Egwuekwe recalled.

Egwuekwe’s interest and involvement in the program—he has two daughters—has launched it from  one-man operation in to a team of 20 to 30 volunteers.

Black Girls Gode has seen a lot of interest, and will hold a workshop February 16 at Rhodes University to help young women learn how to build their own websites. It immediately filled up with 60 participants, and a follow-up workshop is being planned.

Black Girls Code is another sign that Memphis isn’t as behind in embracing the 21st century as some outsiders or even some insiders may  think.

“People seem to have this stereotype about Memphis,” Egwuekwe noted. “They find it hard to believe that we have stuff going on here with technology. They still think that this is the Memphis of 45 years ago, or what they’ve seen in documentaries.”

Did you miss everywhereelse.co 2013, well don’t miss next year’s conference, tickets available here.

College Students’ Condom Startup To The Rescue

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Let’s face it, college students have sex. Of course this is no secret. The fact that sex among college students can crop up at the inoppertune is actually no secret. Having safe sex on the campus of College Of New Jersey in Ewing Township is safer thanks to student entrepreneur Kyle McCabe.

Business Insider reported today on the college student turned entrepreneur and startup Condam. Condam is short for Condom Ambulance.

Students about to get lucky can ping McCabe by way of Condam’s website at condam.net. Once an order is placed McCabe dons a hat with a blue police beacon in the top and comes to the rescue of young lovers.

McCabe also has a more discreet package where he won’t come to the door with blue lights blazing.

The website has several condoms to choose from and customers can pick up anywhere from 1 to 10. Of course the more condoms you buy the cheaper the cost. McCabe offers express hours service from 7pm-3am Friday and Saturday nights.

Right now the service is only available at McCabe’s school, but perhaps expansion or franchising could be in the cards for the future.

We’ll be curious to see what McCabe’s future holds and what other businesses ideas he comes up with. Condam definitely makes for an interesting “lemonade stand” business.

500 Startups Dave McClure Headlining Conference In New Orleans April 22-25

Dave McClure, 500 startups,Pubcon, startup event,startupDave McClure the infamous Sith Lord of 500 startups and huge advocate for startups globally, will be the keynote speaker at Pubcon 2013 in New Orleans. The conference focuses on social media and search and is hosted at the state of the art New Orleans Convention Center.

McClure will discuss his vast experience helping to grow and cultivate startups. In addition to being the founding partner at 500 startups he also hosts regular Silicon Valley meetups called Startup2Startup and of course Geeks On A Plane. To date McClure has invested in over 250 startup companies through his 500 Startups fund and their Mountain View based accelerator program which goes out of it’s way to attract talent worldwide. Some of his investments include MakerBot, TaskRabbit, SlideShare,Mint.com and Twillio.

McClure’s experience spans two decades including serving as PayPal’s Director of Marketing from 2001 thru 2004. While in that role he launched the now infamous PayPal Developer Network. He’s also worked with other well known companies like Facebook, LinkedIn, O’Reilly Media, Intel and Microsoft.

“We’re thrilled to feature Dave McClure as a keynote speaker at Pubcon New Orleans 2013, where his unique spin on the role of social media and optimization in Internet startups will make for a fascinating and insightful presentation,” said Brett Tabke, founder and chief executive of Pubcon.

Michael Slaby, the Obama For America Chief Integration and Innovation Officer, will kick off Pubcon. In addition to playing a major role in the 2008 Obama campaign, Slaby has also served as the digital global practice chair at Edelman and chief technology strategist at Tomorrow Ventures, Eric Schmidt’s venture capital fund.

Pubcon promises to announce more high profile speakers in the coming weeks.

You can register for Pubcon here

 

Work On An Iceberg: Ark Challenge Applications Open Through April 7th

Ark Challenge, accelerator, startup, startup acceleratorWe were really pleased that our neighbors from Arkansas’ Ark Challenge accelerator program were just one of many Global Accelerator Network (GAN) accelerators in attendance at everywhereelse.co The Startup Conference.  The Ark crew was at the conference talking to attendees and startups about retail, logistics and food processing the three core focus areas for the North West Arkansas based accelerator.

Startups selected to accelerate in the Ark Challenge program will receive a seed investment of $20,000 for 6% equity to offset the cost of relocation to  North West Arkansas.

The program will be held at the beautiful new IceBerg coworking space, where founders will have 24×7 access. They’ll also get access to a huge mentor network, product development and design support, promotion, and access to advisors and funders. On the retail side of things Ark Challenge isn’t far from the largest retailer in the world, Walmart.

The Ark Challenge is one of 20 projects nationwide that receives funding for the advancement of regional competitiveness from the Economic Development Administration (EDA), Small Business Administration (SBA) and the Employment And Training Administration (ETA).

In addition to all of that, two teams are selected to receive follow on funding of $150,000 to help the startup get through “speed up”.

The early bird application deadline is next week on February 24th with the final deadline on April 7, 2013. The session will run from June to mid September with an investor/demo day at the end of the session.

You can apply to the Ark Challenge here

Did you miss everywhereelse.co 2013? Well don’t miss everywhereelse.co 2014, ticket sales open and discounted now for the next six weeks here.

Impulcity Flips The Switch Just Ahead Of Everywhereelse Conference

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Impulcity, a Kentucky startup that relocated to Cincinnati for The Brandery last summer, has just launched to the public.

We’ve been tracking Impulcity since last June when co-founders, Hunter Hammonds and Austin Cameron were still working out the details of the concept. Over the course of The Brandery accelerator, and since their graduation last October, Hammonds and Cameron have iterated and iterated again to make sure they offer the best possible hybrid event discovery experience.

Sure their are event discovery startups popping up everywhere but Impulcity has paid close attention to all the details. The app provides a robust back end and access to events across the country, covered up with an eye popping UI that’s extremely easy to navigate.

Impulcity signed up to present at everywhereelse.co The Startup Conference early on and showed up alongside other Brandery graduates Crowd Hall, Brandery GM Mike Bott, and the companies former hustler, now Nibletz CEO and co-founder Nick Tippmann.

Just days before the conference Hammonds reached out to us to tell us that we would get a special treat as the app finally met his strict guidelines and was released in the iTunes App Store.

Over 2,000 people were on Impulcity’s email list and at launch Hammonds to the KyPost.com that they were seeing a new user every minute.

Cameron and Hammonds had to leave the conference early to insure their launch went smoothly back from their headquarters currently located at The Brandery. The startup has raised $400,000 to date and is looking to relocate into their own 1500 square foot space the KyPost reported.

The Minimum Working Thing GUEST POST

WorkForPie, Lean Startup,MVP, Brad Montgomery,startup

WorkForPie co-founders Cliff McKinney & Brad Montgomery (left) (photo: nibletz llc)

By Brad Montgomery, co-founder WorkForPie

I’ve been pondering this post for a long time. Any student of startups is probably familiar with the phrase Minimum Viable Product. It’s really a simple idea, and I think it embodies an important philosophy for anyone starting a company. The idea is that your product (whatever it is; e.g. a service, a physical thing, or some software) should be as small as possible, but still be a working, viable product that customers will buy.

The concept is fairly easy to understand, and I don’t really think anyone misudnerstands the idea. However, the execution of that idea is incredibly difficult. Who knows why this is the case, but I’m going to postulate that the terminology is getting in the way.

Let’s get some definitions out of the way.

  • Minimum. The least or smallest amount possible.
  • Viable. Capable of working successfully.
  • Product. An article or substance that is created or refined for sale.

I don’t really think anyone has a problem with these terms individually, but put them together, and I think many people have wildly varying interpretations of their definitions. One reason, I think, is that people unknowingly emphasize the wrong words. Let’s break it down even further.

Minimum

This may be the most important word. Yet, I think it often gets the least amount of emphasis. Honestly, if I were to change the phrase (and I am!), I’d keep this word. It’s perfect. We want to do the smallest amount of work possible, but we need to strongly emphasize that.

This is hard to do. People like to make things more complex than they need to be.

Viable

Here’s where things start to get confusing. The problem is, that many entrepreneurs (especially first-timers–myself, included!) very rarely agree on what will work. It’s also very tempting to try to build a solution without fully understanding the problem.

I say it’s OK to not fully understand what you’re doing (that’s what startups are all about!), so it’s even more important to adjust your definiton of viable. And, you know what? It’s much smaller than you realize.

Product

This is where things really get confusing. When you say the word product, many people start thinking features! Seriously, go to a business guy, an engineer, or anyone that calls themselves an entrepreneur; sit down and brainstorm a new “product”. Start making a bulleted list of all the features that you’d like to see, and then tell me how many pages you have after an hour.

That’s the problem. People envision a product as a fully-featured, complete, does-it-all-with-bells-and-whistles… thing. As soon as you speak the word product, you’ve already started having feature-creep, and you’ve already forgotten that all-important adjective: minimum.

Build a Minimum Working Thing

I’ve complained long enough, so now I’m going to propose a solution. In the tech-startup world, I suggest that we ditch the phrase Minimum Viable Product, and adopt the phrase Minimum Working Thing.

Again, let’s break it down:

  • Minimum. Do the least amount of work possible. This is important! You know why, right? If you’re in a startup, you’re going to have to go back to the drawing board. You’re going to have to re-work some things. Build less up front in order to save yourself some time later on.
  • Working. Deploy something that works. Remember, you’re just as interested in failure as you are in success. Your first few iterations don’t have to launch your company into success. They have to teach you the direction in which you need to travel. If people can use it to do something, then it’s working. It doesn’t have to be successful.
  • Thing. Don’t build a product. Don’t build features. Just build a thing Yes, I’m being intentionally vague, because your thing may be very different from someone else’s thing. In fact, take that long list of features that you think your product needs, and circle the first item on the list. That’s your thing.

So there you have it. Ultimately, forget what you think you need to build. Instead, build something really small that works, and let your customers start using it. Then, pay close attention to what they do and how they use your minimum working thing. They’ll guide you the rest of the way.

About the author: Brad Montgomery is a developer and the co-founder of WorkForPie. Cliff McKinney, WorkForPie’s other cofounder penned these guest posts here and here.

WorkForPie is hosting a huge party at everywhereelse.co The Startup Conference

St. Louis Startup LockerDome Inks Deal With USA Today

LockerDome, St.Louis startup,startup,sports startup, USA TodayMonday our friends at St. Louis based sports social networking startup announced a new partnership with one of the most recognized sports brands in the world. USA Today Sports is now partnering with LockerDome by adding their content within the USA Today network and also partnering to sell advertising on the site that’s growing at a tremendous rate.  LockerDome is one of the hottest startups in St. Louis.

LockerDome has over 1450 networks of professional athletes, sports teams, brands and other sports properties. FL superstars Troy Polamalu, Larry Fitzgerald, Maurice Jones-Drew, Antonio Brown and Marshawn Lynch; MLB All-Star Felix Hernandez; baseball legends Pete Rose and Wade Boggs; and NBA stars Blake Griffin, Rudy Gay, David Lee and Stephen Curry, are just some of the professional sports players that have pages on LockerDome.

Since launch LockerDome, which is backed by Square co-founder Jim McKelvey and other major investors in the St. Louis community, has grown to over 8 million monthly unique visitors. They are currently growing at a rate of more than 100,000 uniques per day.

Under the partnership, effective immediately, USA TODAY Sports Digital Properties will begin selling advertising on LockerDome, and LockerDome’s traffic will now be included within the USA Today Sports Properties network. Additional 2013 strategic initiatives between the two properties are currently being planned.

“By delivering an innovative platform for publishers, LockerDome has quickly become the fastest growing sports website in the world,” said Gabe Lozano, co-founder and CEO, LockerDome. “USA TODAY Sports is a top-tier media brand that we’ve always had a great amount of respect for, and becoming an Official Partner of USA TODAY Sports is a fantastic marriage between two world-class companies that opens up a number of exciting growth opportunities across the board,”

“We’re excited to welcome LockerDome to the USA TODAY Sports family,” said Clay Walker, Vice President of Affiliate Relations for USA TODAY Sports Digital Properties. “LockerDome’s unique social media platform enables us to provide our advertisers with engaged, highly targeted audiences inside LockerDome’s vast—and growing– ecosystem.”

What sets LockerDome apart for publishers is its ability to reach a more engaged, targeted sports audience and increase their overall social media footprint. Since its initial launch, LockerDome has delivered 50% average growth across Facebook and Twitter for its properties in their first 4.5 months. One of its key differentiators is LockerDome’s cross-promotional flexibility, allowing its networks to grow their existing audiences with each other, a service Facebook and Twitter do not currently offer. While contests on other platforms traditionally average the industry standard of 2% – 3%, LockerDome boasts an average landing page conversion of 23%.

Sports enthusiasts join LockerDome to become a part of interest-specific sports communities where they can consume content and interact with like-minded fans around their favorite professional athletes, teams and sports. Milestones for LockerDome since its launch in January 2012 include surpassing one million uniques in June, two million in October, three million in November, four million in December and eight million in January. At its current growth rate, LockerDome is on pace to be a top-10 most visited sports site in the next 12 months.

LockerDome founder Gabe Lozano will appear on “Grinding For Cash” (raising money everywhere else panel) and giving his own talk at everywhereelse.co The Startup Conference

Footmarks Is Using A Software & Hardware Based Platform For Location Based Engagement

Footmarks, Seattle startup,startup,startup interview, video interview, CES 2013Seattle startup Footmarks is looking to change the way location based engagement is done for businesses both big and small. They consider themselves a social engagement platform that is based on two patent pending technologies.

The first technology is a piece of hardware called the “Smart Connect Device” this device is a low powered Bluetooth device that works within 400 feet of a smartphone and the battery lasts for two years.

Using this device in your car will enable the end user to receive  a stream of localized, real time deals as they approach a business on the road. By combining the device’s technology along with the users social profile, they can receive offers from businesses that are relevant to them. For instance if you were say a golfer and you were passing by Mike’s Super Golf Warehouse, the store could alert you of a deal as you approach.

Another use for the device is through digital billboards. Footmarks hopes to have their technology work in tandem with digital billboards so that the billboard can show an add relevant to a mass of users within 1500 feet. If the demographic profiles of those users approaching the billboard suggested that they were between 35-54 the billboard could show an advertisement for an Elton John concert. Or if the bulk of users passing were 21-35 year old mom’s, you may see an ad on the billboard for Chuckie Cheese.

So of course we had to ask why this technology would trump existing geo-fencing technologies that are currently available on smartphones. According to Footmarks, their technology is scalable up and down whereas geo-fencing technology out there today is to a rather large area.

The company insists that they could set the radius for Footmarks to say 200 feet. That way a department store could have multiple Footmarks set up by department. When the user passes the shoe department they could get one offer, and then turn around and get an entirely different offer in the juniors department.

According to a report on NPR just yesterday, more and more retailers are looking to embrace in-store mobile technologies a growing fad in today’s evolving retail landscape.

Check out the video below to hear about the other things Footmarks has in store for their late Spring 2013 launch.

The biggest startup conference in the US is this weekend, find out more here.

 

Glimpulse To Debut Breakthrough In Human Expression And People Search At everywhereelse.co The Startup Conference

Glimpulse, DC startup,startup,startups, everywhereelse.co the startup conferenceGlimpulse will debut the latest breakthrough in human expression, on the main stage at everywhereelse.co The Startup Conference. Glimpulse has been selected as one of only two companies out of  nearly 100 startups in the Startup Village to present to the entire audience during the morning general session.  Glimpulse will make its eagerly-awaited public announcement and demonstrate how this progressive product will literally change how people see each other.

Backed by research  in human expression and social dynamics and using innovative technology, Glimpulse’s highly anticipated products will enhance communication and make human and social interaction richer, faster and more authentic – on and offline. Glimpulse has been developed by a core team of accomplished executives, investors and advisors. These influential leaders include the former COO of AOL, the former President of National Geographic, the current President of Rosetta Stone, the head of Harvard Business School’s Marketing department and Social Enterprise Institute, the former SVP of Ogilvy’s Social Media Practice, the best-selling author of Likeonomics, and many more. Many Glimpulse team members will be in attendance and will be available in the Start-Up Village during the conference.

Paresh Shah, the founder and CEO of Glimpulse, states “My team and I are so excited to debut our company at Everywhereelse.co. As the largest start-up conference in the nation, it is the perfect forum for us to launch our product. We have been working on the business for over a year and now are ready to make a positive impact in the worlds of business, technology and human interaction.” Rohit Bhargava, former founding member of the world’s largest team of social media strategists at Ogilvy states, “Glimpulse is one of the first in a new line of expression technology companies that we will see in the coming years.  It imagines a world where your personality is as visible as the shirt you’re wearing … and has the rare potential to reinvent how each of us expresses ourselves to the world.”

One Glimpulse advisor, Kim Partoll, former COO and EVP of Marketing at AOL, follows with “Glimpulse is a new way for people to experience, expand and enrich their social networks in everyday real world interactions.  Glimpulse moves self-expression from the realm of the written word and photos into one of rich imagery and real-time display of individuality.” Kyle Sander, Founder of Nibletz.com and the voice of start-ups “everywhere else,” welcomes Glimpulse to the premier line-up of companies attending the conference.  He states, “We are thrilled that the Glimpulse team has accepted our invitation to debut their company at Everywhereelse.co.  We believe Glimpulse is a prime example of the next generation of companies that are creating transformative experiences for consumers, brands and businesses.  We know the attendees at our conference will be thrilled to be the first to hear about this new exciting company.”  Paresh Shah will be presenting for Glimpulse at 8:30am on Monday, February 11th.

 For more information about Glimpulse, please contact Ross Dalton at Ross@Glimpulse.com.

 

Glimpulse provides a new human expression platform that can integrate with existing social networks to enable people to get to that ‘third conversation’ in a way that’s fun, rich, and faster than traditional options – both on and off-line.  Combining leading-edge technology with breakthrough cognitive psychology and human behavior research, Glimpulse’s products will increase positive interactions and instantly enhance both personal and business relationships. Stay tuned.

Glimpulse is presenting at the largest startup conference in the U.S. everywhereelse.co The Startup Conference tickets can be purchased below.

 

Crowdfunding Insurance Coming By Way Of Baltimore Startup Asurvest

Asurvest, Baltimore startups, startup, crowdfundingClarence Wooten, a Baltimore native,who was the co-founder of ImageCafe, a startup sold during the dot com boom to Network Solutions/Verisign for $23 million, has backed a new startup called Asurvest in Baltimore. While Wooten has moved out west to Silicon Valley, he’s betting on a hometown company that plans on offering insurance to people investing via crowdfunding sites.

Crowdfunding legislation was passed last year, however it’s not expected to fully roll out nationally until early 2014, while the SEC establishes guidelines for the vehicle that will allow anyone to help back startups through their first million.

Asurvest was founded last month. They will provide insurance for private and professional investors using sites like Kickstarter, Fundable and Gofunding, according to bmoremedia

“These groups are highly visible. They attract investors. They have strong business models,” Asurvest CEO Luke Cooper told bmore . “We are in an incremental improvement mode,”.

Asurvest is looking to provide assurance for those investing even $1500 – $2000.

Crowdfunding for startups works much like it does for supporting artists and products on the popular Kickstarter platform which saw $319 million dollars pledged last year.

Federal regulators are still sorting out how crowdfunding will work. After that, it will be turned over to state governments. Cooper is currently working with the state of Maine to draft legislation. After that they will move on to Maryland and expand where they see the most need.

Source: bmoremedia

Be sure to check out the crowdfunding panel at the largest startup conference in the US, everywhereelse.co The Startup Conference