Arizona Collaboratory, Inc., (AzC) and FundMyBusinessAZ, Arizona’s first intrastate equity funding portal, are teaming up to help businesses raise capital.
The AzC and FundMyBusinessAZ partnership will create a cooperative relationship that will highlight new opportunities for businesses and entrepreneurs to prepare for and secure capital.
Through this alliance, the Arizona business community will have access to the Arizona Collaboratory Capital Connectivity Platform, a virtual hub where emerging-growth companies register and complete a simple online assessment.
They then are referred to service providers that can help prepare them to secure the capital they require to grow. Properly prepared companies are posted on the network of SEC compliant crowdfunding portals linked to the platform.
The FundMyBusinessAZ.com portal, recently approved by the Arizona Corporation Commission and enabled by House Bill 2591 (Arizona’s new equity crowdfunding law) provides Arizona entrepreneurs and small business owners the opportunity to raise up to $1 million without a financial audit or up to $2.5 million with a completed financial audit from the prior fiscal year.
The new law, proposed and championed by the Arizona Small Business Association, allows any Arizona resident the opportunity to invest up to $10,000 in a 12-month period. Residents that meet the accredited investor requirements are not subject to the $10,000 limit.
Other funding portals linked to the Arizona Collaboratory are independently owned and operated by registered broker dealers that provide numerous funding options to include Regulation D 506(c), Regulation A+, and Section 4(a)(6) crowdfunding (better known as National Crowdfunding).
“AzC and FundMyBusinessAZ will help companies be better prepared to secure capital and to help them find capital in the challenging $250,000 to $10 million range,” said Aaron Bare, founding chairman of the Arizona Collaboratory.
Nick Andrews, CEO of FundMyBusinessAZ.com stated, “Our strategic alliance opens the doors for both accredited and non-accredited investors to participate. Companies that are true startups as well as companies that are post revenue and are seeking a second or third round of funding now have additional resources to raise capital.”
Arizona Collaboratory and FundMyBusinessAZ will present “Utilizing Equity Crowdfunding to Raise Capital” at the September 30 Arizona Speaks event at the Arizona Biltmore hosted by the Arizona Small Business Association (“ASBA”). This is one of a series of events hosted by ASBA to raise awareness about equity crowdfunding.
