Building any company is hard, but building a biotech company is particularly hard. Not only do biotech companies have significant inherent costs due to lab space, DNA, and reagents purchase, but the life cycles of the organisms in question limit product development speed. Hardware companies faced similar problems until Kickstarter came along, but reward crowdfunding has had limited impact on biotech companies.
Title III equity crowdfunding looks like it could be the solution. Title III crowdfunding allows non-accredited investors to fund private companies in the USA for the first time...
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