Hatch OSB June 2015
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Transcript of Hatch OSB June 2015
The Community Public Offering
A New Way to Engage Markets (& Investors) in Oregon and Beyond
Photo here
Who are we?
2
Kristin Wolff Hatch Board Member (& business owner, policy analyst) @kristinwolff #socinn #socent #unjobs #workoutloud #startup #realchange
Simon Love Hatch Operations Manager & CPO Guru @thesimontist @hatchthefuture @hatchoregon #communitycapital #socent
HATCH OREGON - Law (& its evolution) - HatchOregon.com
Platform (investing) - InvestOR Ready
(CPO) Accelerator - Investor Meetups - Data/Stories/
Lessons
11
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Investing directly in the kinds of businesses you want to
see in the world is awesome.
Audrey Eschright: “We need to build businesses that share power.” @recompilermag
Investors (you, yes, you)
– Must be ‘natural persons’ – Must be Oregon residents – Due diligence is on you –
you, yes you, are the risk assessor
– Maximum investment is $2,500 per company
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Entrepreneurs!
– You choose the terms – Can choose equity (stock), debt (loans),
convertible notes, royalties, etc. – Maximum raise $250k – Company must be based in Oregon
15 (There is no form)
And know this…
– Angels don’t care about this – Neither do VCs – Neither do most banks
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(Fine with us.)
Open Source Investing?
HatchOregon.com • Transparency • Information • Investing!
(C) 2015 Hatch Innova;on 17
Let’s compare...
(C) 2015 Hatch Innova;on 18
CircleUp/AngelList Hatch Oregon Kickstarter
For-profit 501(c)(3) Nonprofit For-profit
Real investing Real investing Donating/Pre-Selling
USA Oregon only Everywhere
Any size business Small businesses only Anyone
*There is no initial charge to apply to CircleUp. If approved to be listed on the site, CircleUp will generally assess a commission based on a percentage of the total amount raised. Our commission is intended to be generally consistent with what companies pay to investment bankers in the offline world for similar size fundraising rounds.
$50/mo + credit card fees
5% + credit card fees
Accredited investors only
Any Oregon resident can invest
Anyone can donate
The Deal
• Equity (10% of company) • Preferred Stock • Annual shareholder meetings
(“there will be ice cream”)
• So far….$75,000 • Goal of $120,000…will you invest?
Questions?
(While we’re chatting, use your phone to register as an investor at HatchOregon.com)
(C) 2014 Hatch Innova;on 23
Early (small “n”) Lessons
24
§ Crowdvesting is not Kickstarter – investors are not just backers or early-adopter customers. They actually want a relationships with companies.
§ For many small businesses, It’s not just a tool of last resort.
§ When entrepreneurs set the terms, they can be pretty creative (and some investors kind of like this….(e.g. Agrarian Ales).
§ First-time investors come back for more – they are investing in more than your product or your company, they are investing in you, your values, and the idea of local investing.
§ You have to have your communications ducks in the row, but the process of identifying, engaging, and securing investors could not be more different than the Angel/VC path.