FundaGeek was a crowd funding resource designed for funding project involving technology, scientific research, inventions and community support. Funding is provided through backers who make pledges in return for rewards provided by the project owners. Fundageek does not regard crowd funding as an investment or a debt instrument, and pledges do not involve any form of equity interest. The April 2012 JOBS Act opens up the prospects for "equity crowdfunding" however the SEC has not yet defined the required rules for participation. The industry expects this to happen in 2013.
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