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Listen to the Interview with Nasir Qadree

Meet Nasir Qadree

 

Nasir QadreeThis episode of the Innov8social Podcast features an interview with Nasir Qadree, who serves as a Head of Education at VillageCapital, a venture capital firm that sources, trains and invests in seed-stage entrepreneurs with business solutions to major global problems.

Nasir, born in Atlanta Georgia and a graduate of Hampton University, began his career as an Analyst at Goldman Sachs, and later worked as an Associate to State Street Corporation before serving as Co Chairman of Innovation for Senator Cory Booker, during his special run for Senate in 2013.

Nasir was later was appointed and served as an Education Pioneer Fellow/Special Assistant at the Connecticut State Department of Education, leading the states digital learning and infrastructure initiative , and creating new strategies to empower teachers and school leaders to improve persistently low-performing schools.

I connected with Nasir in connection to Village Capital’s deep work in supporting global social entrepreneurship—and had the fortuitous chance to meet him just weeks later at the Pioneer Summit at GSVlabs. We also found another great connection—we are fellow alumni of the New Leaders Council Fellowship Program and both participated in 2012! Nasir, in the Boston chapter, and me in the Silicon Valley Chapter.

Another fascinating and inspiring factoid about Nasir is that he has committed to running 51 full marathons in each US state, including DC, in an effort to raise scholarship funding for first-generation college students. He has run 14 marathons towards his goal.

 

Find Out More

More About Nasir Qadree

  • Nasir’s bio, as listed on educationpioneers.org
  • Nasir’s fundraiser focused on supporting the career aspirations of highly ambitious first generation college students by providing Mentorship, Leadership, Training, and Career Development

 

More About Village Capital

  • Website: http://www.vilcap.com/
  • Value proposition: “Village Capital finds, trains, and funds early-stage entrepreneurs solving major global problems. Their peer-selected investment model has supported more than 450 entrepreneurs in 9 countries. Program graduates have created over 7,000 jobs and raised more than $110 million in follow-on capital, and 94% of their portfolio alumni are still in business.”
  • Village Capital’s Visiona video

 

 

Listen to the Interview

 

Meet Jenny  Kassan

Jenny Kassan

This episode of the Innov8social Podcast features an interview with Jenny Kassan, social impact attorney and founder. We are delighted to sit down with Jenny and catch up on the shifts since our previous podcast interview together. With her deep expertise in law and entrepreneurship, she has recently turned her attention to coaching and focusing her programs on women entrepreneurs.

Jenny has over two decades of experience as an entrepreneur and attorney. She has helped her clients raise millions of dollars and raised several hundred thousand for her own business. Jenny earned her J.D. from Yale Law School and a masters degree in City and Regional Planning from the University of California at Berkeley.

Jenny is the President of Community Ventures, a nonprofit organization dedicated to promoting the economic and social development of communities. She also co-founded the Sustainable Economies Law Center, a nonprofit that provides legal information to support sustainable economies.

 

Find Out More

More About Jenny  Kassan

 

More About Jenny  Kassan

  • Website: http://www.jennykassan.com/
  • Value proposition: Help mission driven entrepreneurs design strategies for financing and growth and develop the confidence, skills, and knowledge they need to grow their businesses on their own terms.

 

Well, it happened. This guy innovated a crazy awesome Aladdin magic carpet for Halloween.

And, the Securities and Exchange Commission (SEC) finally passed rules for online crowdfunding for investment (“equity crowdfunding”) on October 30, 2015.

Why does this matter for social entrepreneurs?

So, let’s say you are a social entrepreneur. You are creating tons of meaningful impact through your startup and have a business model that is starting to work. How are you going to scale? You may have pitched to dozens (if not more) investors. Maybe they like your idea and your impact, but if your experience is anything typical, you have amassed more rejections than a kid collects candy on a good Halloween night trick-or-treat run. What are your options?

Since its rise to popularity, crowdfunding has been a formidable option for social entrepreneurs raising early-stage funds. Why? It lets you build an audience, support, and outreach as you raise funds. Best of all, you get to appeal to people who can vote with their dollars. They can ‘invest’ in your idea because they believe in you and what you are doing; they are not restricted by the same demands for return on investment that VC’s or even impact investors may be bound by.

But up until know, this kind of crowdfunding was based on donation. It has been your good word or promise to deliver something amazing that your crowdfunders depend on. And, while they “invest” using popular crowdfunding sites such as Kickstarter or Indiegogo, there hasn’t really been a chance for them to receive a return on their investment beyond what you promised.  They donate to support you and to receive first access to your game, book, product, or service.

It has been a bit more complicated (but not impossible) to set up equity crowdfunding. State tools such as Direct Public Offerings (DPO’s) have provided these pathways. But they have restrictions on where your investors can be located in order to invest in your campaign—i.e. they are bound by state law and scope.

And, though the JOBS Act with its equity crowdfunding provision, passed in 2012….the SEC hadn’t found the right way to formulate rules to both allow any US citizen to invest in startups, and to protect said citizens from fraud, deceptive, or unscrupulous practices by said startups.

Until last week. That’s when the SEC passed rules that attempt to satisfy both the buoyancy of democratizing early-stage investment and the concern of protecting the tomorrow’s new early-stage investor, i.e. you and me.

This matters for social entrepreneurs because this democratization of investment into startups has the potential to change the game for good ideas and meaningful impact. Social entrepreneurs who meet all of of the SEC requirements, can appeal to people and not just investment and impact investment firms to raise funds. They can validate and scale businesses at a pace set by the social enterprises, without necessarily trying to be tomorrow’s unicorn or polka-dotted zebra.

 

5 Quick Things Social Entrepreneurs Should Know About SEC’s New Equity Crowdfunding Rules

So, what are a few quick things every social entrepreneurs should know about these new rules? Here is the one-minute primer.

1. One million dollars in 12 months. Startups can raise up to $1M through online equity crowdfunding from unaccredited investors, in a 12-month period.

2. 5% or $2K for the under $100K club. Aspiring crowdfunding investors making less than $100K can commit 5% or a maximum of $2K toward equity crowdfunding, within one year. For the those making $100K or beyond, the limit is 10% or $100K, also within a year.

3. Newbie audit exemption.  first-time equity crowdfunding issuers are exempted from the requirement for a financial audit (costly!) prior to raising equity crowdfunding fund

4. Raising $500K – $1M. Startups looking for less than $500K funding in online equity crowdfunding can provide tax returns that have been “reviewed” by an independent tax accountant. This is also true for first-time equity crowdfunding companies raising between $500K-1M.

5. Yup, there are more questions than answers. Have more questions? Join the club (and the crowd )! The best thing to do now is to stay informed as new crowdfunding platforms appear, and existing crowdfunding platforms pivot to make room for this new way to invest. For social entrepreneurs, though there are so many questions still in the air, the big thing doesn’t change: crowdfunding works best when it is backed by integrity. For every hardworking, mission driven social entrepreneur trying to stake a claim, there might be a few others who are “greenwashing” their way to online equity crowdfunding investment. Stay above the fray and and make good choices about whether your startup is in a good position to have ROI-seeking investors, how you measure impact, and whether taking on equity-funding might hamper, impede, or otherwise negatively impact your drive and focus to create positive impact. It’s an exciting time, for sure! But a few wayward examples, and this potential boon for social entrepreneurs could take turn for bust.

 

Read more

  • SEC: SEC Adopts Rules to Permit Crowdfunding
  • Entrepreneur: The SEC Just Approved Rules Opening Up Equity Crowdfunding to the General Public In a 3-1 Vote
  • New York Times:  S.E.C. Gives Small Investors Access to Equity Crowdfunding
  • Gizmodo: The SEC Just Made a Big Change To What’s Legal In Crowdfunding
  • Equities.com: Rapid Reactions to SEC’s Approval of Title III Crowdfunding Rules
  • Entrepreneur: What the New Equity Crowdfunding Rules Mean for Entrepreneurs
  • FinanceMagnates: SEC Passes Crowdfunding Rules: ‘Investing Will Be Forever Changed’
  • Huffington Post Business: US SEC Votes YES to Equity Crowdfunding Today, More Than 1300 Days After 2012 Law and 80 Years After 1933 Law
  • Wikipedia: Crowdfunding exemption movement
  • Wikipedia: Equity Crowdfunding (US)
  • Innov8social: What is Crowdfunding?
  • Innov8social: What are 3 Crowdfunding Options for Social Entrepreneurs?