3 Things You Should Know About Small Business: August 2
NEW YORK (TheStreet) -- What's happening in small business today?
1. Indiegogo is partnering with Google and Stiftung Entrepreneurship. Crowdfunding platform Indiegogo announced a partnership with Stiftung Entrepreneurship, a German foundation that fosters entrepreneurship, and Google(GOOG) , to launch the Gründer-Garage initiative -- an online competition for German-speaking entrepreneurs to finance innovative ideas through the Internet.
The competition is part of the broader initiative by Indiegogo to build out its international platform, beginning with Germany. Indiegogo plans to roll out a local website in the German language and will be broadening its funding and payments options beyond the U.S. dollar to include euros for participants of this competition.
Candidates will be offered training materials and coaching by Stiftung Entrepreneurship to develop their idea into a solid business plan and then will seek their own capital through self-administered crowdfunding campaigns on Indiegogo. Indiegogo's "gogofactor" -- a proprietary merit-based formula which tracks campaign activity -- will be part of determining the winning campaigns. Google will match campaigns that successfully reach their funding goal until 150,000 (approximately $185,000 by today's exchange rates) in prize money is depleted. The companies will publicly recognize these campaigns at the Entrepreneurship Summit in Berlin in October.
"This is an exciting opportunity to empower some of the best creative and business talent," said Danae Ringelmann, co-founder of Indiegogo.
2. House votes to extend Bush tax cuts. The Republican-led House of Representatives voted on Wednesday to approve all of the Bush tax cuts, which is likely a symbolic move, given that taxes and spending are top priorities in this year's presidential campaign, according to the Associated Press.
The House measure has no chance of passing the Democratic-controlled Senate or surviving an Obama veto, AP says. Instead, the vote was to send a message just three months before election day.