Usually anytime policy mixes with the tech world, it's almost never in favor of the little guys. But for the last few years, knowledgable people from the president to the small entrepreneurs around the country have been lobbying for changes to ancient SEC regulations that limited the ways small companies could solicit investment. Basically, you had to know somebody who knew somebody with money and privately talk to them about potentially investing in your product. Suffice it to say, even if you had the greatest idea in the world, if you didn't have the right connection, chances were your company would fail.
But Monday this all changed. Title II of the JOBS Act went into effect, ridding those BS Depression Era regulations and allowing small businesses to publicly solicit their fundraising to investors as long as the investors are accredited. Now, startups can send tweets and mass emails, build online crowdfunding profiles or even put up advertising to tell the world that they're raising money for their business – investing is now open and democratized in America.
Shahab Kaviani, co-founder of CoFoundersLab, took advantage of the new regulations as soon as they went in to effect Monday night and he had some compelling reasons for doing so.
In other D.C. Tech news this week:
- The Emmys were Sunday night, and Netflix's catalog had a few wins, including one big one.
- BlackBerry had a rough week. But at least Uber released a new app on their platform.
- The FDA passed new regulations for apps that mimic medical devices.
- 1776 struck a partnership with Microsoft Ventures to aid its residents.
- The Georgetown Angels were in town with a fantastic panel of investors to discuss the state of VC in D.C.
- TrackMaven released an intriguing look at the way Fortune 500 companies use Instagram.
- RideScout laid tracks in D.C., exemplifying a trend of veterans founding successful startups.
- Google turned 15.
- And D.C. got its first device lab.
We'll see you next week, D.C. tech world.