We're lucky to have a crowdfunding regulator that works with investors and platforms to make regulations that help growth and don't cost the earth to implement. The FCA took over equity crowdfunding on 1st April 2014.
In the USA the JOBS Act was signed into law two years earlier, on April 5, 2012. But our American counterparts are still treading a difficult path, step-by-step, to make equity crowdfunding succeed in America.
In this four-minute vide, Slava Rubin, a founder of Indiegogo, talks through his company's experience. You can tell, almost from the outset, that he's talking about a platform that was built around reward crowdfunding is adjusting to what we call investment crowdfunding, where you actually get to own shares in a business, rather than just having a voucher to shop at ten per cent off.
Compare the setup on this side of the pond. Jeff Lynn moved from the USA to found his equity crowdfunding platform in London in 2012. Five years later the company he founded, Seedrs, is a leading player in a thriving sector, with many success stories and competitors.
Indiegogo operates in the UK, but the platform's focus is still on reward crowdfunding. Indiegogo's equity section opened in late 2016, and they took on a partner, MicroVentures, to help them work out the regulatory details of inverstment-grade crowdfunding.
Not for the first time, we're proud to be British.