Seems like everyone wants to get on the startup bandwagon these days. In case you were on a retreat or were completely unplugged over the past week, President Obama has signed the JOBS act, a piece of legislation that some believe will be a game changer for the startup sector.
JOBS, or Jumpstart Our Business Startups was created to empower emerging companies to raise funds online. If you’re familiar with sites like Kickstarter or Indiegogo, you know how effective online fundraising can be.
Currently, for-profit investment through crowdfunding sites is illegal. Existing crowdfunding sites raise money primarily for creative projects and social enterprises. This territory will now be opening up to for-profit ventures, enabling investors to cash in on startups’ success. Here’s a great article from Mashable on what the JOBS act means for your startup.
Is the JOBS Act “Fool’s Gold”?
Some have reacted to this legislation with skepticism, including UC Berkeley Professor and Public Policy expert Robert Reich. Reich has posited that the JOBS act is taking us one step closer toward turning America into a giant casino.
One thing for sure, we’ll be seeing a few more crowdfunding startups spring up in the next year or so.
Obama’s Startup Agenda
Meanwhile, there are a lot of other changes in the works for the startup sector. This attractive infographic by Intuit, designed by Column Five Media, does a great job illustrating some of the changes proposed under President Obama’s Startup America Legislative Agenda.
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