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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 green1 ( 322787 ) on Thursday July 12, 2012 @10:40AM (#40627913)

    will regulators at the FDA ... be on board with it?

    What does the FDA care where the money came from? That's not their job. The FDA is there to make sure that the end product is safe and effective, they shouldn't care who paid for the development of it.

  • by clarkkent09 ( 1104833 ) on Thursday July 12, 2012 @11:46AM (#40628553)

    snake oil salesman kill people financially, and literally, by wasting their time
    And FDA kills people financially and literally by delaying drugs by as much as a decade or more and making them MUCH more expensive. It's important to look at both sides of the equation. Letting people die while preventing them by law from trying promising and potentially life saving drugs because they have not gone thought the entire test cycle is criminal and yet it happens every day. Not to mention the issue of liberty. Its either my fucking body or its not, and it can't be mine when it comes to favorite liberal issues like contraception and abortion and not mine when it comes to a drug that I want to take and FDA won't let me.

Think of it! With VLSI we can pack 100 ENIACs in 1 sq. cm.!