Darren Westlake, the co-founder and current CEO of the UK-based Crowdcube, will be making his way to the 2012 Technicity summit in Toronto on November 29. The head of the world’s first equity crowd-funding website will be giving a talk about his experience and thoughts on the the current state of the industry. During the panel discussion, Westlake will also be focusing on the concept of crowd-funding and the benefits it can provide Ontario based start-ups.
Equity Crowd funding involves pooling together money or funds from a large group of people. The concept has become easier to handle and implement online where a large group of people can contribute small amounts to meet a business or start-up’s funding needs quickly and effectively. Crowdcube is known to many as one of the first websites to offer equity funding for start-ups through a crowd sourcing model. The Unite States recently followed suit by legalizing the practice through the JOBS Act. Canada however is lagging behind and has yet to pass legislation to make crowdfunding a legal way for business to get their foot in the door. Each province of the country will need to change their laws in order to open the gates of the latest equity funding model.
The panel discussion will also include the CEO of ING Canada, Peter Aceto ; founder of Stratus Capital and a board director at the Toronto Angel Group, Dr. Richard Reiner; creator of Social Venture Exchange, Adam Spence; partner at Fraser Milner Casgrain and a member of the board of directors at Invest CrowdFund Canada, Andrea Johnson. Dr. Cindy Gordon, who is the national chair of Invest CrowdFund Canada, will be the moderator for the event.
Source: ITBusiness.ca
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