Brandon Smith

Secretary of State Connie Lawson Tuesday announced rules are in place that open the doors for Internet crowdfunding in Indiana.

The rules were  developed after the legislature passed a bill authorizing the practice earlier this year.

Secretary of State Lawson says the online crowdfunding system is meant to help startup companies  and bolster existing ones. The rules allow Indiana private companies to raise up to $2 million in capital. Individuals can invest up to $5,000.