On October 30th, the Securities & Exchange Commission (SEC) voted to approve the FINAL rules for Title III Equity Crowdfunding under the JOBS act legislation.
What this means is that in approximately 90 days, ANYONE, regardless of income, will be able to invest in a startup by purchasing shares or issuing debt and earning a financial return on their investment. There are no restrictions on income or net worth in order to make an investment (there are caps / safeguards however built into the legislation).
This sets the stage for equity crowdfunding to continue its exponential growth over the next 3-5 years, on top of the existing market for accredited investors.
According to Forbes, "Crowdfunding was already expected to surpass VC in 2016 at $34B a year in total crowdfunding online, across all types of crowdfunding. By bringing in a new class of investors with Title III, we can expect further growth of the equity market as venture capital continues to move online."
This move is a breakthrough for technology entrepreneurship! It will make a whole lot more capital accessible to our startups and emerging technology firms.