CROWDFUNDING IN MICHIGAN STATE Case Solution

Apart from these above Crowdfunding platform, Michigan gets new equity Crowdfunding platform under MILE Act. The platform website is MichiganFunders.com it is the first “homegrown” equity crowd-funding platform in the state of Michigan.  Michigan Funders was launched using the Crowd Engine platform. (Alois, 2015)

All these types of Crowdfunding methods differ from one another in terms of how each of these entities work, who can invest or invest money and lastly, what contributors or investors gain in return. The other type of Crowdfunding is donation, which is undertaken by small groups and people with the idea in their mind and individual or groups who support the idea.

On the other hand, Michigan crowdfunding entities also differ from one another in investment limits as to whether who can or who cannot invest and limit on investor type and that whether the investor is resident of Michigan or any other state of United States. In Michigan crowdfunding, only residence of Michigan can invest while in other crowdfunding, any investor can invest especially in the federal Crowdfunding.

 (team, 2015)

There are many such entities that are available in Michigan, which deal in fundraising activities through crowdfunding. Michigan State’s economic development corporation also supports such entities. Now, there are several such entities; especially after implementation of the MILE act, which was passed in the state legislature and now there is a proper structure and regulations for such entities. Every year, Michigan State raises significant funds through such activities. There is a very good article on Crowdfunding, which provides a great understanding of how crowdfunding works. It guides how small businesses in Michigan can raise funds through Crowdfunding (RESOURCES, 2015)…………….

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