MinnesotaNow will host two Business Financing Events each year. These events are the pinnacle of experiential education for entrepreneurship, venture capital investing, and the general public, the intended users of the new equity crowdfunding portals. You’ve hear of crowdfunding, like Kickstarter, etc., where you get a widget or other benefits by donating to a business. Equity crowdfunding is a new option where, instead of getting a widget or benefit, contributors receive a piece of ownership in the company. These are small investments, often of $200 to $1,000.
While experienced entrepreneurs will know these galas as MinnesotaNow Business Financing Events, most attendees will think of them as Business Launch Parties, their secondary name.
Dig, If You Will, a Picture…
When guests arrive at our event, wearing beautiful, locally designed dresses and black tie formalwear, they will walk down the red carpet.
Camera flashes sparkle as a brigade of local photographers, arranged by MinnesotaNow, shoots posed and action pictures, adding to the award-ceremony atmosphere. Attendees will be able to purchase digital images after the event. We’re calling this the “Paparazzi Experience.”
Guests step off the red carpet into the Lumber Exchange, where event masterminds have considered every detail. After taking a step at the MinnesotaNow Step and Repeat Banner, guests enter the Fountain Room, the main event space. This awe-inspiring, ten-story space was just refurbished in 2017.
There, attendees find delectable hors d’oeuvres, drinks, and plenty of high-top tables to encourage socializing and networking.
But this will be more than networking. More than entertainment. This will be an unforgettable experience.
On Stage
After networking, guests adjourn to ample seating for the evening’s performances. Focused on solving the lack of seed capital in the Twin Cities, each MinnesotaNow Business Financing Event will feature 12 to 20 ventures seeking capital.
Each venture will have 6 to 15 minutes on stage not to tell, but to perform about their company. This energetic approach breaks the business-event mold, keeps it fun, and shatters assumptions.
Understanding that not every business owner is a born performer, we will allow videos and substitute performers. MinnesotaNow will also connect entrepreneurs with professional entertainers to assist in developing, coaching, or delivering performances.
Each evening’s performers will be selected from businesses that have achieved certain credentials, such as being a finalist in the 1 Million Cups competition, winning a collegiate business plan competition, or being approved by qualified professional service organizations. Qualified ventures will also pass an analysis and interview process with MinnesotaNow. All businesses will be equity investment appropriate—meaning scalable—and have thorough knowledge of their industry and business.
The pomp and glamour of our events will also attract media coverage by both general and business outlets. All eyes will be on our events.
Bold Finish
Every grand MinnesotaNow event ends with a late-night dance party. Refreshments are available all night. As the early guests depart, new ones will arrive.
Seed Capital
If people love an idea, they want to be part of it. MinnesotaNow Business Financing Events put investors “on the inside,” supporting great ideas with small amounts of money. By attracting a broad base of attendees who don’t live and breathe small business or consider themselves “entrepreneurship people,” we add a new source of financing into the mix. We help connect ventures to equity financing.
Seed capital is often pre-revenue, so these ventures are not usually good candidates for venture capital investment. By demystifying equity crowdfunding portals and ensuring the quality and preparedness of performing businesses, MinnesotaNow reduces the high-risk assumptions associated with entrepreneurship.
This is where MinnesotaNow’s glamourous events and the MNVest Equity Crowdfunding Portals come together. MinnesotaNow will promote the event and encourage guests to invest. We plan to have a mobile app available at our event to facilitate contributions and take full advantage of equity crowdfunding opportunity.
The MNvest portals are perfect for raising seed capital: $30,000 to $100,000 to bring a business form the idea phase to getting a basic product to market, and jump-start a great idea, no matter the financial circumstances of the founder.
MinnesotaNow is here to create opportunities for persons of all backgrounds.
Beyond Seed Capital
Some performing businesses will seek financing beyond the seed round to scale the business. This investment, which is usually $2,000,000 or more, is best provided by a venture capitalist.
The pomp and glamour of our events will also attract media coverage, by both the general media and the business news coverage. In this way, all eyes will be on our event, enhancing the exposure for performing businesses. Venture capitalists will be among the guests at all Business Financing Events, and MinnesotaNow will promote all of the performers and connect them to professionals in our extensive, every-growing network of supporters. Performing businesses seeking the next round of financing will have multiple opportunities to connect with investors, and venture capitalists will find it easy to follow up after the event, as they will have the list of performing ventures and their basic information. We will serve as a connector should any connections be missed at the event.
Summary
MinnesotaNow Business Financing Events will increase the visibility of the vibrant local entrepreneurship community and draw new sources of financing to it. With a thorough knowledge of equity crowdfunding rules in Minnesota, we will give Minnesota’s businesses a much-needed source of seed capital, all while throwing a spectacular party. Generous networking time and strong media coverage will ensure that businesses connect with capital beyond the seed phase of financing.
