Shark Tank had the power of celebrity to convince viewers that they should care about venture capitalists and startup pitches. It will take a smart social media campaign or a crowdfunded super star (know any?) to get people to watch RealityCrowdTV. The idea of getting friends, relatives and strangers to give you money to launch your new company is appealing, but the new mechanism gets complicated very quickly. The JOBS act passed in 2012, but we are still waiting for final rules from the SEC (they are expected in February 2014). Brian Corn, a lawyer with Pepper Hamilton, sums up the program this way:
“…the risks, burdens and limitations of crowdfunding render it almost completely useless. And since crowdfunding targets individual investors, maybe that’s a good thing.”
But, it certainly shows entrepreneurial spirit to quit your corporate job and launch a crusade to educate the public about crowdfunding:
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RealityCrowdTV is in the pre-production stages of its reality TV show based on the huge Crowdfunding movement. Online and TV audiences will soon be able to learn how to Crowdfund through the trials and tribulations of entrepreneurs who are bearing it all, the good and the bad, to follow their dreams.
The show will feature local experts in a panel discussion format discussing how to build a business and using a crowdfunding campaign.
The show’s organizers will be talking with governors, mayors and economic development councils as well as marketers, broker dealers, lawyers, videographers, and other small business development subject matter experts.
Reality Crowd TV’s host and founder Manolis Sfinarolakis and the road crew will be setting up interviews, panel discussions and airing the program in these cities:
New York – January 21, 2014
Boston – January 28, 2014
Atlanta or Charlotte – February 4, 2014
Miami – February 11, 2014
Chicago or Detroit – February 18, 2014
Denver or Las Vegas – February 25, 2014
Austin/Dallas/Houston – March 4 – 15, 2014
Minneapolis or Seattle – March 25, 2014
Los Angeles – April 1, 2014
Palo Alto – April 8, 2014
Honolulu – April 16, 2014
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Sfinarolakis is leaving his job as a senior internal auditor at The Hartford to launch RealityCrowdTV. He also has worked in real estate and social media. The program will be supported by advertising for new products and services to serve the crowdfunding industry that is expected to grow to a $100 billion to $300 billion industry by 2025.
And yes, Sfinarolakis will be using crowdfunding to pay for this adventure.
