Summary
The Congressional Committee on Oversight and Government Reform held a hearing on job creation and the Securities and Exchange Commission's efforts to implement the JOBS Act. Rep. Patrick McHenry (R-NC) chaired the hearing. RocketHub's CFO, Alon Hillel-Tuch, was invited to testify on the potential the "crowdfunding for equity" model holds for start-ups, job growth, and the US economy.

Description
These are the key points RocketHub made to Congress:

1. Crowdfunding democratizes fundraising. - Alon's testimony: "Traditional sources of capital have strict guidelines regarding the nature of the businesses they support, and exclude a wide range of domestic businesses.

2. Crowdfunding will lead to job growth. - Alon's testimony: As shown in the July 2010 Kaufman Foundation report, startups are the job creation engine in the American economy.

3. Crowdfunding empowers investors. Alon's testimony: The JOBS Act enables small investors to provide support to capital seeking entrepreneurs.Crowdfunding portals and regulators are able to drive standardized and understandable terms across offerings.