Hi Tom, directly from Paul Niederer, CEO-ASSOB…
“Foreign investors are their own category. There is no limitation or restriction on their investment. ASIC our regulators only have a mandate to protect Australians.” I guess that means ‘game on’….

Stay tuned for the forthcoming launch of our platform. One can gain insight about our mission and values by going through our blogs http://www.healthycrowdfunder.wordpress.com Crowdsourcing technology is just a means to an end.We are high tech merchant bankers using our expertise to co-finance and co-develop health solutions. We are in the midst of recruiting co-managers/ co-founders/partners while raising capital. Accredited or qualified investors may contact me for a private presentation of our plans [tarias@alamidascapital.com]. In it, we demonstrate our game changing solutions including how we will protect investors as well as provide business management tools to our client-investees. Follow us at AngelList https://angel.co/healthy-crowdfunder-corp-1

Thanks for sharing your thoughts, Tony! In your opinion, what area of ‘game changing’ crowdsourcing technology will have the greatest impact on healthy crowdfunder and the health industry?

What makes crowdfunding or crowdsourcing a game changer is technology that the old SEC rules of 1930s did not envision when rules were made. It is technology that will pacify the worry warts. Think big data. Think predictive analytics. Think algorithm. We did not have them in the 1930s.

The Sarbanes Oxley and Dodd Frank Reform are overreactions for the flaws and commercial crimes of the system. Treating a sick patient does not have to mean killing the patient (capital markets). We all have so much work to do reinvent the broken system. That is not through over-regulation but through innovative solutions brought about by technology. #HealthyCrowdfunder http://www.healthycrowdfunder.wordpress.com

Hi Tom, great comments and thanks for sharing. ASSOB (http://www.assob.com.au/) an equity portal in Australia allows Canadian accredited investors to participate in their deals. We will confirm the requirements (e.g., self-certification process) and revert back.

Best, CA

That’s an inconvenience for Canadian entrepreneurs but hardly a showstopper. Canadian entrepreneurs are some of the brightest and most resourceful people on the planet. If Canadian provinces are slow to step up to crowdfunding (relative to the US and UK), then many entrepreneurs will simply locate their companies elsewhere.

Whether you’re in Camp A or B, the reality is that we’re moving to a trust and talent based economy. The market and crowd are increasingly global, and it will invest in the ideas of talented entrepreneurs. It’s not about Canada or provincial legislation. It’s about bringing great ideas to market and building great companies, and doing what’s necessary to make that happen while ensuring legal compliance and minimizing administrative costs.

The related question here is which countries and platforms will allow equity-based crowdfunding from citizens who are outside that country? Seedups.com for example lets investors who “self-certify” as sophisticated investors to make investments if they are based in the UK, Ireland, or the US. I’ve inquired whether they allow Canadian investors.

The question to Canadian entrepreneurs who want to tap into equity crowdfunding may soon be: Where will you and your co-founders locate your company? Preferably in Canada.

Eventually there will probably be platforms that allow equity investing between Canadian investors and Canadian entrepreneurs. I hope the platforms (and the registered companies) will be based in Canada.