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Interview with Seedrs CEO Jeff Lynn on JOBS act and international expansion | Economie Nouvellehttp://www.economienouvelle.fr/interview-with-seedrs-ceo-jeff-lynn-jobs-act-international-exp...1 of 85/14/2012 12:30 PM
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Interview with Seedrs CEO Jeff Lynn on JOBS act and international expansion
Posté le 30 mars 2012 by Economie Nouvelle
NOTE: la version française de cette interview estdisponible ici
Today Economie Nouvelle is welcoming Jeff Lynn, the CEO of Seedrsfor an interview about the recent US JOBS Act andSeedrs view on international expansion.
Economie Nouvelle:
Hi Jeff, first off, congratulation for winning the London Web Summit startup competition ! Can you present your company ina few words?
Jeff Lynn:
Thanks, winning London Web Summit was a great and much-welcomed surprise!Seedrs is a platform for investing in startups.We will let investors invest between £10 and £100,000 in startups they choose through a simple,online process, and we will let startups raise up to £100,000 in equity capital seamlessly from friends, family and the crowds.
Economie Nouvelle:
So your goal is to provide these first funds that are so hard to get for starting entrepreneurs.
However voices are saying thatentrepreneurs need more than just cash from Business Angel, and that mentoring and networking are equally important.
What do you think of that, and how does Seedrs answers that?
Jeff Lynn:
Mentorship and support are vitally important, and I think that
Seedrs provides the best type of mentorshipand support you can get
: access to a wide, diverse range of investors who have a vested interest in helping the startup out.
There is anold-fashioned notion that a solitary, grey-haired angel
should be there to provide all the advice the startup needs, but I think that mostbusinesses—especially in their earliest stages—would rather be able to turn to a network of people to help them with particular issues as they goalong.
Interview with Seedrs CEO Jeff Lynn on JOBS act and international expansion | Economie Nouvellehttp://www.economienouvelle.fr/interview-with-seedrs-ceo-jeff-lynn-jobs-act-international-exp...2 of 85/14/2012 12:30 PM
Startups that raise capital through us can
reach out to the hundreds of people who have invested in them
and say “Does anyone know a goodaccountant?”, “How do I solve such-and-such coding problem?” or even “How do I get an intro to such-and-such VC firm for my next round?”Somewhere in the crowd of investors will likely be one or more people who can provide a useful answer or introduction.
Economie Nouvelle:
Youlaunched in the UK, but just last week the US passed a new bill,
the JOBS Act
that legalizes crowdfunding for« emerging growth companies ». When are we going to see you in the US?
Jeff Lynn:
We are going to take a close look at the version of the JOBS Act that passed, and in particular that willbe made by the Securities and Exchange Commission (SEC) following its passage, before making a decision as to whether to approach the U.S.market.At this point
we’re concerned that the law as passed provides for too little regulation
, and we have no interest in entering a market whereinvestors are not receiving adequate protections. That may change, however, based on the rules that the SEC promulgates.
Economie Nouvelle:
Still about the JOBS act,
what do you think of the safeguards added by Congress
, in particular the limit of $2,000 perinvestor when startup raise less than $100,000?
Jeff Lynn:
I think in many ways Congress focused on all the wrong things when trying to implement safeguards. The investor caps are relevant butnot nearly as important as ensuring that platforms
are subject to adequate supervision and;
1.
provide support and monitoring for investors after the investment has been made.
2.I question whether the JOBS Act addresses (1), and it definitely doesn’t deal with (2), and those are much more important to making crowdfundingwork than investor limits.
Economie Nouvelle:
What about expansion in the rest of the world? especially in France and Europe ?
Interview with Seedrs CEO Jeff Lynn on JOBS act and international expansion | Economie Nouvellehttp://www.economienouvelle.fr/interview-with-seedrs-ceo-jeff-lynn-jobs-act-international-exp...3 of 85/14/2012 12:30 PM
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