We’ve been watching in amazement as organizations such as Kickstarter gain steam, revolutionizing the way that entrepreneurs go about raising cash for their projects. And it appears that the concept of crowdfunding will continue to gain momentum, especially in light of the new Jumpstart Our Business Startups (JOBS) Act that was signed into law by President Barack Obama last month.
Now, the industry, is getting more serious, forming its very own industry trade group. The Crowdfunding Professional Association (CfPA) was announced today, declaring a mission of creating “a vibrant, credible and growing crowdfunding community.” The group will serve entrepreneurs, investors and business owners in order to help ensure that the practice of crowdfunding “continues to develop in a responsible, transparent and credible manner.”
“Having worked over the past two years in developing the framework and foundational elements of the acts that passed both houses of Congress and ultimately the JOBS act signed by our president, I am thrilled to join with a broad coalition of crowd pioneers in the creation of a truly crowd-sourced professional association,” said Sherwood Neiss, a founding member of the leadership group behind both non-profit crowdfunding group.
Other executive members include Berkeley Geddes, CEO of Grow America Insight; Carl Espositi, founder of Crowdsourcing.org, Brian Tsuchiya of Vim Funding and Ruth Hedges, CEO of Unismart Capital Software.
The venture capital industry has long had its own trade and lobbying group, in the form of the National Venture Capital Association. Given that, it’s interesting to see the rise of the CfPA.