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News & Press: Colorado Technology Industry

Press conference to announce Colorado crowdfunding legislation

Monday, February 23, 2015   (0 Comments)
Posted by: Megan Ryan
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Media Alert

What: Press conference to announce Colorado crowdfunding legislation

Who: ​*​Speaker Pro Tempore Dan Pabon, ​*​R​​epresentative Pete Lee, ​*​Majority Leader Mark Scheffel, ​*​Senator Owen Hill, CTA Chairman Steve Foster, and ​Executive Director of the Blackstone Entrepreneurs Network JB Holston

When: Wednesday, February 25th at 12:30pm

Where: Industry Denver, 3001 Brighton Blvd

Details: Speaker Pro Temore Dan Pabon, Representative Pete Lee, Majority Leader Mark Scheffel and Senator Owen Hill are introducing a bill to allow crowdfunding in Colorado.

If you are familiar with Kickstarter, then you are familiar with crowdfunding. As it currently exists in most states, startups can use crowdfunding to raise capital and may offer goods or services in exchange, but cannot offer equity in the startup or other corporate securities.

In Colorado, we are working to join a small handful of states where unaccredited investors can purchase securities from businesses in relatively small dollar amounts through open exchanges. Instead of allowing only those who have tremendous liquid assets to decide which businesses are worth investing in, it allows almost anyone to help create the next great Colorado business. In order to protect consumers, the bill provides a list of requirements that may be imposed by the Colorado securities commissioner that include risk mitigating steps and market regulations. Why this matters: This is a new way to build business in Colorado. It puts the power of the people into business creation. It allows anyone to decide what businesses are worthy ventures, and which are not. Colorado has long been at the forefront of business development and crowdfunding is another way that Colorado will lead the nation.

It will continue our tradition of setting an example for the nation in business experimentation, collaboration, creativity and economic growth there from. Join us to learn more about the importance of this bill to the technology industry in Colorado. More coming soon on legislative supporters of the bill.

​* Legislative speakers are subject to time constraints of their legislative schedule  

Contacts: Megan Ryan, VP or Marketing & Events, Colorado Technology Association, 303-592-4069, megan@coloradotechnology.org or Nissa Szabo, Government Affairs Manager, Colorado Technology Association, 720-382-5923, nissa@coloradotechnology.org


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