GRAND RAPIDS – TechShop, a membership-based do-it-yourself workshop and fabrication center, Monday said it hopes to raise $60 million to build more franchises nationwide, including one in Grand Rapids. TechShop already has a Michigan location in Allen Park.
The new fundraising by TechShop is possible because a critical part of the Jumpstart Our Business Startups Act, which lifted the Tuesday ban on general solicitation and advertising for certain investment offerings.
The JOBS Act is intended to jumpstart the U.S. economy by creating opportunities for small businesses, startups and entrepreneurs. TechShop can now invite a broader group of investors, which includes smaller and community-minded ones, to participate.
Besides Grand Rapids, other TechShop locations are planned for Chandler, Ariz.; Los Angeles, Calif.; Menlo Park, Calif.; Chicago, Ill.; Cedar Valley, Iowa; Boston, Mass.; Baltimore, Md.; St. Louis, Mo.; New York, N.Y.; Portland, Ore.; Pittsburgh, Pa. (expanded programming); Arlington, Va.; and Seattle, Wash.
