In preparation for the upcoming ComCap Colorado conference (http://www.comcap.us/colorado) on community capital, a pilot ‘capital community’ was formed by Colorado Capital Community PBC to support to support businesses, social enterprises, charities and community projects in raising capital within the space industry. https://www.meetup.com/Space-Capital-Community/.
A small group of people were invited to meet and discuss the concept of a ‘capital community’, how it may serve their personal goals, what such a group might accomplish, the activities of the group and what type of business structure might best suit the group.
Participants were asked if a ‘capital community’:
- · may help their organization raise money, whether it may help them in making investments, to enable them to participate in capital campaigns for different organizations and/or to solve a community problem;
- · would serve a member to make money, to have fun, to experience adventure, to do good, to build a stronger local economy and/or to share with others having common interests
- · would engage in activities of acting as a distributor of existing information, in the development of new and more detailed information, in providing advice to investors, in providing advice on how to raise capital, in giving organizations an opportunity to tell their story, in presenting educational programs and/or in supporting organizations in conducting capital campaigns;
- · should choose no business structure or structure itself as an association, as an investment club, as a fund to finance capital campaigns, and/or as an investment fund.
Participants were also asked how much, if anything, they may commit in terms of dollars, time and network contacts to support the ‘capital community’ or to support an organization raising capital.
The small number of responses do not serve as hard data, but indicated a strong interest in working together to support organizations seeking to raise capital.
With this information, as a first stage in development of the ‘capital community’, a Meetup group was formed by entering into a six-month service agreement. http://www.meetup.com.
A temporary or working name was chosen: Space Capital Community. This highly descriptive name and associated key words and bio will improve the ability to promote the existence of the capital community within Meetup’s automated promotional services. Feedback will be gathered from members of the capital community to select a formal name that is suitable for novelty, differentiation, trademark and buying a URL.
Work is underway to customize this platform with documents, graphics and other information that is helpful in encouraging people to join the capital community and providing value to members.
More information on member preferences is now being collected at the Space Capital Community Meetup through ongoing polling (an included service of Meetup) of members. Based upon information received in the initial survey, monthly membership dues have been set at $20. This amount will be monitored to make sure it is not too high. As additional activities and benefits are achieved, this amount may be increased.
Work is underway to design the first program to be held in December. At present, the program will include three components:
- · Organization Presentation – an organization seeking capital will be recruited to make a presentation where they will share details on their capital needs, their stakeholder analysis, and their capital strategy within the framework of their mission and business plan. This presentation may be critiqued by an expert panel and/or peer reviewed by the audience
- · Capital Source Presentation – a source of capital (investor, fund, foundation, government agency, etc.) will be recruited to make a presentation on how organizations may access their capital. An actual or fictional organization will be walked through the application/pitch and approval/funding process.
- · Capital Community Building – existing and prospective activities of the capital community will be reviewed so that action may be taken to improve the capital community.
Progress to this point is revealing a number of activities that will fill gaps within the capital industry ecosystem in gathering and organizing information on different capital sources and the establishment of ‘experts’ as capital coaches on where and how to access capital.
Karl Dakin, President
Colorado Capital Community PBC