National Seed-Stage Business Accelerator for Real Estate Startups, elmspring, Prepares to Take Advantage of Illinois HB 3429 to Offer Equity Crowdfunding Deals in Chicago

The elmspring accelerator mentors companies such as PeerRealty, which provides a real estate equity crowdfunding platform that soon will be providing a secondary market for crowdfunded assets and private investment offerings

By Robert Hoskins

Chicago, Illinois – The elmspring accelerator applauds the Illinois state legislature for passing HB 3429, a crowdfunding state exemption bill that will allow Illinois small business owners and entrepreneurs the opportunity to raise funds through intrastate equity crowdfunding. The bill has a particular interest to elmspring program participants such as PeerRealty, because they are a real estate crowdfunding platform that will soon be providing a secondary market for crowdfunded assets and private investment offerings.

elmspring business accelerator in Chicago, Illinois

According to Elliot Richardson, CEO and President of SBAC, “The passing of HB 3429 allows Illinois to take much needed steps to funnel investment dollars back into the state. Intrastate equity crowdfunding makes it possible for small business owners and entrepreneurs to raise money from one another and invest in Illinois businesses, thus supporting the very communities they live in.”

Thomas Bretz, Co-Founder of elmspring, agreed, “We applaud the efforts of the SBAC in urging the Illinois General Assembly to pass HB 3429. The bill will immediately impact the success of our recent graduating startup, PeerRealty, but also open doors for other future participants with similar business models. Building healthy, innovative and competitive businesses is what elmspring is all about, and the SBAC fully supports that mission.”

The elmspring accelerator was founded by top real estate professionals and offers participants exclusive access to real estate connections and resources. Select start-up companies are provided with seed capital, office space and opportunities to beta test and refine sales strategies. Participants also demonstrate their products to a host of serious investors at the culmination of the three-month elmspring session. The accelerator is now accepting applications for its third Chicago session until June 19, 2015. Please visit elmspringaccelerator.com for more information.

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iCrowd Hotels Opens Premier Real Estate Crowdfunding Site to Pair Hotel Developers with Hungry Real Estate Investors

 The new crowdfunding portal provides investors with direct access to top-performing hotel investments and streamlines the fundraising process for hotel owners and developers

By Robert Hoskins

Miami, Florida – iCrowd Hotels, Inc. announced the launch of its new proprietary online hotel crowdfunding platform. The innovative platform, which is focused on hotel properties across the globe, answers the mounting demand for direct access to tangible, top-performing hotel investments, as well as the need from owners and developers for a more streamlined and efficient fundraising process.

iCrowd Hotels Opens Premier Real Estate Crowdfunding Site to Pair Hotel Developers with Hungry Real Estate Investors

“Our crowdfunding platform has been in development for the past 18 months, with the goal of creating the premier hotel crowdfunding site. Since the adoption of Title II of the JOBS Act, and the passage of Regulation A+, there is an incredible untapped potential for private investors to diversify their portfolios and become pioneer crowd investors in the lucrative hospitality market,” said Ted Farnsworth, chairman and founder of iCrowdHotels, Inc.

“According to experts Massolution and Bloomberg, global crowdfunding is expected to reach $34.4 billion this year and real estate crowdfunding to top $250 billion by the end of 2020. We have opened the door to enable individuals to hold a valuable stake in premium hotel properties across the globe for as little as $10,000,” Farnsworth continued.

iCrowdHotels’ online platform will put the power directly in the hands of the investor by providing state-of-the-art technology that allows users to closely track the composition of their hotel portfolios, along with fundraising progress for properties in crowd investing status.  For owners and developers looking to raise capital, iCrowdHotels’ seamless tools allow for easy management and tracking of fundraising progress.

The company is now working on the release of its planned hotel pipeline comprised of more than $130 million in current deals in key markets including New York City, Miami, California and Europe. It will be working strategically with its partners to systematically choose the appropriate properties for the crowdfunding platform.

The company has also been tactically building its team of highly experienced industry veterans. Carl J. Schramm, an expert on new business strategy and innovation, has been advising the company during its early formation. Schramm, a professor at Syracuse University, served as president of the Kauffman Foundation until 2012, leading it to global preeminence in encouraging entrepreneurship and its link to economic development.

iCrowd Hotels, Inc. is a real estate developer and investor with a groundbreaking hospitality strategy focused on the millennial market. Situated in the forefront of the real estate crowdfunding movement, iCrowd Hotels is defining itself as the premier portal of its kind, seeking to create a marketplace in which hotel real estate developers and investors will come together to forge mutually beneficial relationships.

Taking sight of the positive outlook for the hospitality market, its foremost thrust is hotels but it is an equity-based crowdfunding portal that may offer different types of investment properties as well. Setting iCrowd Hotels apart is the fact that it affords the investor an in-depth knowledge of how the hotel industry functions.

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