The brave new world of raising business capital has taken root in the District better than anywhere else in the country. An index compiled by San Francisco-based Crowdfund Capital Advisors ranks D.C. ahead of all states for crowdfunding — raising cash for business ventures through online portals, The Washington Post reported.
Crowdfund Capital Advisors came up with its rankings by analyzing the number of companies seeking funds in a state, how many of them actually received money, and how much. Following D.C. at the top of the list were New York, Vermont, Oregon and California.
The poorest-performing crowdfunding states were Arkansas, Nebraska and Mississippi.
“Elected officials in states, including Washington, D.C., New York, Vermont and Oregon are enjoying the benefits of higher than normal utilization of crowdfunding,” The Post quoted CCA Principal Jason Best as saying. “Leaders in these states have an opportunity to use this as a powerful point of differentiation in bringing innovative individuals and companies to their state.”
