Michigan is on its way to becoming a small business, start-up mecca in part because of the passage of the state’s new crowdfunding law. Unlike Kickstarter types of campaigns that create a platform for individuals to donate to a project, this law actually allows individuals to invest in businesses and causes similar to how individuals purchase stock in publicly held corporations. In short it is a steroid for entrepreneurs, civic activists and innovators of every type.
The Michigan Municipal League and its partners will be spearheading the efforts to create unique, community-based crowdfunding networks throughout the state. Creating opportunities for entrepreneurs and programming government to support them is a major focus of the League’s Partnership for Place strategy. Check back to the EoP blog for updates.