Five companies pitch ideas to investors
The newly formed Michigan Angel Network hosted its second meeting in southwest Michigan on Thursday, June 21.Five technology companies presented and discussed their company ideas to 12 private investors or angels at the Kalamazoo Country Club.
“This is a great opportunity for entrepreneurs to network and gain outside exposure,” said Doug Rothwell, president and CEO of the Michigan Economic Development Corporation.“Angel investors usually continue to serve as mentors and help startups get noticed by other investors.”
The mini investment forum, created by Michigan Economic Development Corporation, meets on a monthly basis.
Angel investors work to assist high-tech entrepreneurs with capital and increased networking opportunities.They tend to be individuals who invest their own personal funds.In addition to startup cash, many angels provide networking and management support to entrepreneurs.
“Michigan’s Angel Network will fuel early and late stage economic development efforts for the state,” said Barry Broome, executive director of Southwest Michigan First – the regional economic development agency.“This exceptionally unique concept by the MEDC builds on Kalamazoo County’s leadership status.”
The companies that presented were LeanLogistics of Holland; TerraSeer of Ann Arbor; Portable Data Technologies of Traverse City; DirectCast Network of Midland and Nexcerpt of Kalamazoo.Guest speaker, Tom Collett of Rubicon Genomics, shared his experiences in angel investing with attendees.
Currently, the network consists of 25 angels from throughout the state.The network is growing and always looking for new investors. Attendance for investors and entrepreneurs is by invitation only.
The next meeting is scheduled for late July in southeast Michigan in partnership with Digital Detroit.The objective is to create awareness about investing.
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life.