Proposal to Allow Crowdfunding for Wis. Businesses

MADISON, Wis. (AP) -- Wisconsin small businesses could sell stock shares to potential investors online under a proposal that its backers says takes the popular Kickstarter model to a new level.

The measure circulated Tuesday for co-sponsors would create an exemption in Wisconsin law to allow crowdfunding for small businesses that are looking to sell equity.

The crowdfunding concept allows individuals to contribute money online through sites like Kickstarter to reach a funding goal set by a project creator or business owner.

The Wisconsin proposal would allow companies to sell up to $2 million in stock through crowdfunding.

David Dupee is the founder of CraftFund, a Milwaukee-based crowd funding platform for craft brewers nationwide. He says Wisconsin can be a pioneer in this area as only two other states have passed similar laws.

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