David Cummings is an Atlanta success story. He’s a highly successful serial entrepreneur, founder of Atlanta Tech Village and an influencer in Atlanta’s start-up community.
David recently wrote on his blog about the challenges CEOs face in raising capital for their startups. He noted that “fundraising is a full-time job” and “incredibly difficult,” especially when coupled with build a business. He described spending four months as CEO tracking down capital only to call off the process and swear off institutional capital.
The challenges described by David are ones equity crowdfunding is designed to beat. Once it hits its stride, crowdfunding should provide deserving startups with capital without the endless meet-and-greets, out-of-town trips and redundant presentations. Equity crowdfunding can be done from the local coffee shop, tech incubator or home office, letting CEO and his/her team focus on building the business.
While equity crowdfunding will make raising capital easier, it still won’t be easy. A startup looking to raise capital through equity crowdfunding needs the same ingredients as those raising money offline . . . but the time spent to raise it should be much less.
We are working to generate equity crowdfunding success stories, and hope David will write about them on his blog soon. Please sign-up at SterlingFunder and get involved.