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Entrepreneur Offers Crowdfunding For Health Startups, Including His Own 35

awjourn writes "As the SEC hashes out the final rules for crowdfunding equity investments in startups, one NYC entrepreneur is jumping into an industry that popular crowdfunding sites like Kickstarter won't go anywhere near: health. His company, MedStartr, launched July 11 with six companies seeking to raise money from the crowd for their health products and services. Among them, EndoGoddess, an app diabetics can use to track their blood sugar. Even MedStartr wants to raise funding on MedStartr. But will crowdfunding fly in healthcare, and more importantly, will regulators at the FDA and SEC be on board with it?"
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Entrepreneur Offers Crowdfunding For Health Startups, Including His Own

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  • by indeterminator ( 1829904 ) on Thursday July 12, 2012 @09:41AM (#40627443)

    I mean you can kickstart anything right?

    It seems you can not. FTFA:

    Dyer initially went to Kickstarter, but was turned down. “They told me it wasn’t within their project guidelines because it has a medical focus,” she says.

  • i can't link to the url, because i can only find these guidelines from the edit screen for my kickstarter project (see my sig), but there is a lot you cannot kickstart:

    Project Guidelines

    Kickstarter is a funding platform for creative projects — everything from traditional forms of art (like theater and music) to contemporary forms (like design and games). These guidelines explain Kickstarter’s focus. Projects violating these guidelines will not be allowed to launch.

    Note that as you go through the site you may find past projects on Kickstarter that conflict with these rules. We’re making tweaks as we learn and grow. Thanks for reading!

    1. Funding for projects only.
    A project has a clear goal, like making an album, a book, or a work of art. A project will eventually be completed, and something will be produced by it. A project is not open-ended. Starting a business, for example, does not qualify as a project.

    2. Projects must fit Kickstarter’s categories.
    We currently support projects in the categories of Art, Comics, Dance, Design, Fashion, Film, Food, Games, Music, Photography, Publishing, Technology, and Theater.
    Design and Technology projects have a few additional guidelines. If your project is in either of these categories, be sure to review them carefully.
    View Design and Technology requirements
    Kickstarter requires additional information from Design and Technology projects so backers can make informed decisions about the projects they support. These requirements include detailed information about the creator’s background and experience, a manufacturing plan (for hardware projects), and a functional prototype.

    Additionally, not everything that involves design or technology is permitted on Kickstarter. While there is some subjectivity in these rules, we’ve adopted them to maintain our focus on creative projects.

    Projects, projects, projects. As in all categories, Kickstarter is for projects that can be completed, not things that require maintenance to exist. This means no e-commerce sites, web businesses, or social networking sites. (Yes, this means Kickstarter wouldn’t be allowed on Kickstarter. Funny, but true.)
    D.I.Y. We love projects from the hacker and maker communities (weekend experiments, 3D printers, CNC machines), and projects that are open source (hardware and software). Software projects should be run by the developers themselves.
    Form as well as function. Kickstarter is a place for products with strong aesthetics. Think something you would find in a design store, not “As-Seen-On-TV” gizmos.

    3. Prohibited uses:
    No charity or cause funding. Examples of prohibited use include raising money for the Red Cross, funding an awareness campaign, funding a scholarship, or promoting the donation of funds raised, or future profits, to a charity or cause.
    No "fund my life" projects. Examples include projects to pay tuition or bills, go on vacation, or buy a new camera.
    Prohibited content. There are some things we just don't allow on Kickstarter.
    View prohibited items and subject matter
    Alcohol (prohibited as a reward)
    Automotive products
    Baby products
    Bath and beauty products
    Contests (entry fees, prize money, within your project to encourage support, etc)
    Coupons, discounts, and cash-value gift cards
    Drugs, drug-like substances, drug paraphernalia, tobacco, etc
    Electronic surveillance equipment
    Energy drinks
    Exercise and fitness products
    Financial incentives (ownership, share of profits, repayment/loans, etc)
    Firearms, weapons, and knives
    Health and personal care products
    Heating and cooling products
    Home improvement products
    Infomercial or As-Seen-on-TV type products
    Medical and safety-related products
    Multilevel marketing and pyramid programs
    Nutritional supplements
    Offensive material (hate speech, inappropriate content, etc)
    Pet supplies
    Pornographic material
    Projects endorsing or

God help those who do not help themselves. -- Wilson Mizner