Invest in Local Founders & Raise Your Community Round!
Invest in Local Founders & Raise Your Community Round!
TheraV & HX Innovations are raising on Wefunder...
Hey there!
I’m excited to share that First Founders Inc. has received a grant from the National League of Cities (NLC) City Inclusive Entrepreneurship (CIE) program, which helps cities empower entrepreneurs of color and invest in underrepresented communities. With the support of the City of Wilmington & Wefunder, we’re using this funding to help local businesses raise investment capital from a community of investors while helping to foster economic growth.
What is Wefunder, exactly? It’s like Kickstarter, but for investing. The company has become the industry leader in raising Community Rounds and empowers everyday people to become angel investors in businesses they care about. The platform has helped fund $450 million+ into over 2,000 tech startups and small businesses, including flying cars, coffee shops, future software giants, breweries, Hollywood studios, and potential Ebola cures.
Local Founders Raising Now!
HX Innovations, founded by Nicole & Von Homer, is a biotech company that supports foot and ankle health and stability for athletes. Their patent-pending technology reports foot and ankle stability, muscle power, and speed. What’s most impressive is that the team has completed successful pilot studies with teams such as Miami Heat; with 6+ teams or leagues ready to purchase their technology. View Campaign
TheraV, founded by Amira Idris, is on a mission to transform & innovate post-amputation therapy and rehabilitation. Tapping into a $13B amputation pain market in the USA, the company has raised over $450K to date and gained over 100 paid beta users. View Campaign
These are two startups led by phenomenal founders, and we want to continue to help them succeed. Be sure to check out their campaigns and reach out to them if you’d like to ask questions or support in ways other than a financial commitment. As we continue to support our global community of founders, we’ll be highlighting more campaigns in the weeks ahead.
Ready to Raise Your Own Community Round?
If you’re a startup founder or small business owner interested in raising on Wefunder, feel free to use our partnership page which will provide you with perks including a discount on platform fees. Wefunder is free to use, and you will only be charged a percentage of your total funds raised at the conclusion of your campaign. Through our partnership, fees have been reduced from 7.5% to 5%. The minimum you can raise is $50k, and the max is $5M within a year. Founders set their own investment terms and can raise using debt instruments, equity, or a combination of both. This can also be done in tandem while fundraising from financial institutions, accredited angel investors, and venture capitalists.
Fun fact: You can also "Test the Waters," meaning you can launch a campaign (in as little as 15 minutes) and gauge initial interest from the community without having to commit to accepting their money, or having them officially transfer funds from their bank account. Their are no fees involved with "Testing the Waters," however, there are legal disclosures you must provide with each of your communications to potential investors. If you do "Test the Waters," but eventually decide not to go through with launching an official campaign, there is no cost to you or your interested investors.
More About the CIE Program
Made possible in partnership with and support from the Ewing Marion Kauffman Foundation, the CIE program helps cities adopt policies, programs and practices to give underrepresented entrepreneurs more opportunities for economic advancement. Participants select an area of focus for their programs to support economic growth in their communities, including working with startups, creating microlending platforms, and helping small businesses raise capital through equity crowdfunding. Now in its third year, this network has grown to include more than 175 cities, 200 local partners, and $100 million in committed resources.
Final Note: If you’re interested in raising a community round for your own business, sign up on our partnership page and feel free to reach out to garry@firstfounders.org so we can amplify your campaign in upcoming demo days.
*Contents of this email should not be considered an endorsement of any company, and it should not be considered investment advice. At the time of this communication, HX Innovations & TheraV are “Testing The Waters” to gauge investor interest. Be sure to do your own research & analyze all risks involved when investing.