Crains offers a step-by-step primer on how local startups used crowd funding to get their businesses off the ground.
Excerpt:
"Locally, cousins Lucy Carnaghi and Molly Mitchell used Kickstarter last year to raise the final $19,000 they needed to open
Rose's Fine Food on East Jefferson Avenue. And
Avegant Corp., an Ann Arbor-based startup, raised $1.5 million to produce a video headset called Glyph.
But donors don't own any part of the business, and there is little to no recourse for them if a company fails to send the promised rewards. Kickstarter is littered with failures."
Read the rest
here.
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