Start-up Crowdfunding Exemption

The Start-up Crowdfunding Exemption is a way for businesses to raise capital by having each person within the crowd invest a small amount of money by way of internet portals with an expectation of a financial or investment return. This type of equity or debt crowdfunding is regulated by the Commission and is a new exemption that is pursuant to an order of the Commission Blanket Order No. 45-524 (Amendment).

The Start-up Crowdfunding Exemption forms and helpful links are listed below. For further information or to submit completed forms email:

Please check out the BCSC's video to help get you started. Also view Start-up Crowdfunding FAQs

List of Crowdfunding Portals

Funding portals – refer to the guide below for assistance in understanding regulatory obligations for operating a portal by registered dealers or persons intending to rely on the registration exemption.

Information Guide - August 20, 2020


Funding Portal Information Form 3 - June 30, 2016

Portal Individual Form Form 4 - June 30, 2016

Risk Acknowledgement Form 2 

Businesses at the early stage of development can use this guide to gain an understanding of their regulatory obligations and responsibilities to investors.

Information Guide - August 20, 2020

Preparing an Offering Document - August, 20, 2020


Offering Document Form 1 - June 30, 2016

Report of Distribution Form 5 - June 30, 2016

Investors can use this guide to learn about the start-up crowdfunding process, where to find these offerings, and the risks related to these types of investment.

Information Guide - August 20, 2020

Additional Information:

How to Raise Capital handbook

Blanket Order 45-524 (Amendment) - June 30, 2016

MI CSA Notice 45-319

MI CSA Notice 45-316