Crowdfunding Goes Hyper-Local in Williamson County

Williamson County Partnership Crowdfunding Website Unveiled

ROUND ROCK, Texas – Williamson County’s newest economic development tool – an intrastate crowdfunding website,  http://wilcofundingportal.com/, developed by the Texas Entrepreneur Network (TEN) – was unveiled today at the Round Rock Chamber of Commerce | Economic Development Partnership’s Momentum luncheon by Hall T. Martin, director of TEN.

“The WilCo Funding Portal will provide startups and entrepreneurs in Williamson County a new source of capital for starting and growing their business.   Investors in the community will find it easier to locate startups and community projects they want to support.  The use of internet-based portals will accelerate the growth rate of companies as they are able to access capital faster and with more efficiency,” said Martin.

Crowdfunding is the concept that allows companies to access desired funding by leveraging small contributions from many parties. With the ability to maximize smaller contributions, crowdfunding has become the latest tool young enterprises, that may otherwise struggle to secure traditional financing, are using to find the necessary funding to grow their operations.

SnakeHead Software, LLC’s campaign is one of the first to launch with the new site. Founder and President Gerald Bailey recognizes the void this type of program fills and how it meets a need in the ever-changing entrepreneurial culture.

“As you know, one of the biggest issues facing startups today is access to capital. Crowdfunding, now one of the biggest trends today, allows entrepreneurs to raise funds in ways not previously possible.  I’m really excited to be a part of the new crowdfunding project in Williamson County.  This allows me to raise money for our projects through both reward as well as equity based funding,” said Bailey. “Living in an area which is known as the Live Music Capital of the World, it makes perfect sense to launch our new music based racing game here with the help of the WILCO crowdfunding portal.  And with their help and others, I can work to raise awareness of my campaign right here in my own backyard.”

The Texas Entrepreneurs Network will be responsible for launching, overseeing, and administering the crowdfunding website while the Chamber, along with other partnering Economic Development organizations in Cedar Park and Georgetown, will work with businesses utilizing the crowdfunding website to promote economic development, business growth, and job creation in Williamson County. Focusing only on businesses located or locating in Williamson County, this will be one of the few hyper-local crowdfunding websites in the nation.

“The Chamber’s collaboration with The Texas Entrepreneurs Network to promote intrastate investment in Round Rock businesses is the most recent example of the leading role the Round Rock Chamber continues to play in the support, promotion, and development of entrepreneurial endeavor in Central Texas,” said Frank Leffingwell of Leffingwell Law, PC.

The addition of the crowdfunding website to be operated by Texas Entrepreneur Network will complement all of the Chambers’ existing relationships with financial institutions to deliver comprehensive assistance to Williamson County businesses looking for financial assistance.

“We understand the intrinsic value of fostering an active entrepreneurial community and this new crowdfunding site truly supports that belief,” said Mike Odom, president and CEO of the Round Rock Chamber of Commerce | Economic Development Partnership. “As the only one of its kind in Texas, as well as a great example of inter-county cooperation, we are extremely proud of this effort.”

For more information about the Williamson County crowdfunding project,
contact Hall T. Martin at 512-656-9487 or director@txenetworks.com.