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Return on Change

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Return on Change (RoC) is an equity crowdfunding platform that connects investors with innovative and socially conscious startups.[1] Return on Change works with startups that operate in five sectors, each of which touches on sustainability in some way: cleantech, edtech, life sciences, social enterprises, and technology.[2] An online equity crowdsourcing platform, RoC helps socially conscious ventures raise capital.[3]

History

Sang Lee, CEO and founder and native New Yorker,[3] founded Return on Change in 2012, in anticipation of the JOBS Act.[2] Lee became interested in the idea after working for six years as an investment banker in the power and energy sector and noticing the difficulties that startups in these industries faced when raising money from traditional sources.[4] He created Return on Change, which started helping startups sell equity to accredited investors, or those who make at least $200,000 a year and have $1 million in assets, in the summer of 2013.[5] The platform is among the first to take advantage of the Jumpstart Our Business Startups Act (JOBS), which passed in 2012.[6] In addition to his work at RoC, Sang is also the Executive Director of CF50, a global crowdfunding leadership think tank.[7]

Equity Crowdfunding

With the passage of the JOBS act, equity crowdfunding, which allows companies to sell equity shares through crowdfunding sites, became legal in 2012.[8] However, the SEC is still reviewing regulations that would allow non-accredited investors to make equity investments.[4]

Operations

Return on Change focuses on high-impact startups and is limited to accredited investors, or those who meet income thresholds according to SEC regulations.[2] RoC was a sponsor of the TechCrunch NYC Meetup and NY Tech Day.[6] The platform is currently preparing for the passage of new regulations that would allow non-accredited investors to participate.[9]

Milestones

In May 2014, cleantech startup Geostellar closed a $1 million round using the RoC platform. Geostellar is an online marketplace for financing and installing solar panels.[2] It is a solar marketplace that aims to map the solar power potential of every residence in the U.S., while demonstrating to homeowners their potential cost savings.[10] “Raising capital online since the JOBS Act makes it much easier to spread the word, get potential investors engaged and provide information,” David Levine, the CEO of Geostellar, said in the company’s announcement.[11]

Press Coverage

Return on Change has become a leader within crowdfunding discourse and has been featured in publications such as BetaBeat, Reuters, Ecopreneurist, and Crains.[1] Forbes wrote about the platform in August 2013.[4]

See also

References

  1. ^ a b Brian R Knight (2013-02-05). "Guess who's back? (An Interview with Sang Lee)". Crowdfund Insider. Retrieved 2014-06-26.
  2. ^ a b c d "Equity Crowdfunding Platform Return on Change Has Million-Dollar Baby". Xconomy. Retrieved 2014-06-26.
  3. ^ a b "The 5 P's of Social Entrepreneurship | Monika Mitchell". Huffingtonpost.com. 2013-10-11. Retrieved 2014-06-26.
  4. ^ a b c Field, Anne (2013-08-25). "Raising Money For Startups-And Getting A Jump On The Government". Forbes. Retrieved 2014-06-26.
  5. ^ Messina, Judy (2013-11-15). "Equity crowdfunding sites court investors, startups | Crain's New York Business". Crainsnewyork.com. Retrieved 2014-06-26.
  6. ^ a b "Tech Showcase: 10 Facts About Return on Change". Handshake20.com. 2012-05-25. Retrieved 2014-06-26.
  7. ^ "Columbia Organization of Rising Entrepreneurs Return on Change: Power to the People » Columbia Organization of Rising Entrepreneurs". Coreatcu.com. 2013-12-05. Archived from the original on 2014-06-26. Retrieved 2014-06-26.
  8. ^ Gabrielle Karol (2013-10-24). "SEC's New Crowdfunding Rules Explained | Fox Small Business Center". Smallbusiness.foxbusiness.com. Retrieved 2014-06-26.
  9. ^ Messina, Judy (2013-11-15). "Equity crowdfunding sites court investors, startups | Crain's New York Business". Crainsnewyork.com. Retrieved 2014-06-26.
  10. ^ Field, Anne (2014-04-30). "Online Solar Marketplace Raises $1M In Equity Crowdfunding". Forbes. Retrieved 2014-06-26.
  11. ^ Weigley, Samuel (2014-05-02). "Crowdfund Effort By Geostellar Paying Off". Techli. Retrieved 2014-06-26.
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