Crowdfunding in Michigan event tomorrow, Thursday, June 26,

[Aaron Wissner]

Hello!

An interesting change which may shape our local future is the development in Michigan of a new law that allows for crowdfunding of businesses.

Crowdfunding is similar to the idea of a Kickstarter, but in crowdfunding, people putting money in are actually investing in the business.  In this case, the investors, and the businesses, can only be in Michigan.  One example is a mirco-brewery proposed for Tecumseh (near Ann Arbor).  Again, similar to Kickstarter, a web site is being used to allow people to donate/invest.

https://localstake.com/discover_investments?tab=discover

Here is an article about this particular business:

http://www.crowdfundinsider.com/2014/03/34455-michigans-first-equity-crowdfunding-candidate-tecumseh-brewing-co/

One of the potentials of this legislation would be to allow people to invest/own "green" business and enterprises; to put their money in a local, socially responsible place.

One example I've thought of would be a company that puts solar rooftops on various buildings (probably public buildings), renting the roof space, selling the power to the local utility, and with that revenue stream, paying back the investors.

I imagine schools might be amenable to this sort of idea, especially given their high electricity use (which would make it attractive to the local utility companies), the school's strapped budgets (due to state budget cuts and rising costs), and a desire to be green (positive PR for the community and students).  By the same token, other municipalities, churches, etc. might be interested in the same sort of opportunity.

A church might work particularly well.  The church would earn the rent of the roof space.  The energy provided to the power lines would be clean and green.  The church members could invest a portion of their retirement savings in the enterprise; and then either receive interest, a dividend, equity, etc.

In summary:  A door appears to have opened to help people to invest locally in businesses and enterprises that match their beliefs, in Michigan.

If you are intrigued, I encourage you to attend the meeting tomorrow, and/or contact the people listed as speakers at this event.  I'll paste the details below, and attach a printable poster.

Best,

Aaron Wissner

President

Local Future, a non-profit 501c3 organization

What’s Up with Crowd-funding?? 

Crowd-funding Investment - Project Financing Workshops*

*Eligible for NABCEP CED Credits 

Thursday June 26, 2014 

Time: 12:30 pm– 6:00 pm 

Ingham County Fair Grounds, Mason, MI 

Building: Barn A 

 

 Join us for an exploration into Michigan's local investing movement, which has catapulted 

our state into the national spotlight with the passing of the new MILE Act (Michigan Invests 

Locally Exemption) in December 2013. Learn about the elements required to build a high 

quality local investment market and how businesses and investors can connect with this new 

legislation. 

Speakers: 

 Tom Stanton – Intro to WHY we might care about crowd-investing for 

 clean energy projects. 

 Angela Barbash – Info about the Michigan MILE Act and opportunities it creates. 

 Michael Melfi – Legal info about what ducks need to be in what rows, to be ready to use 

 crowd-investing to raise equity funds. 

 Sandra Cochran – More specific details about planning the crowd-funding campaign. 

 Kevin Hitchen – Local Stakes a crowd-funding web platform 

 Registration Fees: $40.00 GLREA members, $60.00 non-members 

For more information & to pre-register: www.glrea.org (GLREA is a 501-c3 nonprofit ) 

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Aaron Wissner, Teacher

http://aaronwissner.com

President, Local Future, a 501(c)(3) educational non-profit organization

http://localfuture.org

Director, Conference on Michigan's Future: Energy - Economy - Environment

http://futuremichigan.org