On April 26, 2018, the Miller BRC and the Utah SBDC hosted the Utah Crowdfunder Series: Core Experience event, where Utah entrepreneurs learned from some of the best in crowdfunding. Neal Harmon kicked off the event with the VidAngel story and how they were able to bring in $10 million from the crowd in only 3 days. He also announced an upcoming VidAngel crowdfunding platform, where compelling films will be able to be funded by the crowd, and all those backers will own a piece of the films they invest in!
After Neal spoke, attendees were able to mingle and network.
Bryce Hansen, associate director for the Salt Lake office for the Utah SBDC, moderated an expert Kickstarter/IndieGoGo panel that included Purple’s Alisa Gammon, Funded.Today’s Thomas Alvord, and Power Practical’s Caleb Light. We learned that it is increasingly difficult to get media and PR for crowdfunding campaigns by virtue of a maturing industry and a high volume of people creating campaigns. However, taking a product to market through crowdfunding is still a viable method for validating demand for a product, thereby decreasing production risk.
Following the panel, Marty Tate of Carman Lehnhof Isrealsen, spoke on equity crowdfunding and in particular, the recent Initial Coin Offering and blockchain phenomenon that has swept the country over the last year.
For questions on crowdfunding or for other questions related to starting and growing your business, contact the Salt Lake SBDC’s Bryce Hansen at firstname.lastname@example.org or 801-957-5441.