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Angel investors call for new round of applicants

 Posted: 6:10 PM December 02, 2013

With three kettles simmering on the stovetop, the Southern Oregon Angel Investment Network is ready to cook up a fourth dish.

The network is calling for the next round of business plans to compete for estimated $200,000 investment at the April 30 Angel Network Conference. Investors are inviting launch-stage companies, start-ups and entrepreneurs to submit plans by Feb. 28.

Applications can be submitted to the Southern Oregon Regional Economic Development Inc. website at www.soredi.org.

Steve Vincent, angel network founder and chairman, anticipates another strong showing from the region's entrepreneurial community.

"Angel investors don't look for any kind of quick return," Vincent said. "You place your capital and you better be really patient. The challenge is that they have to sit on these investments for anywhere from five to 10 years before they see any liquidity."

Since 2011, 52 angel investors have collectively participated in three investments totaling $680,000, beginning with Folium Partners of Ashland, who received $300,000; followed by Montrue Technologies of Ashland, collecting $160,000; and JettStream of Bend, who earned backing of $220,000 earlier this year.

Vincent said Folium and Montrue continue to follow through on their strategic business plans, marketing their software products.

"It's far too soon for anyone to have a guess as to the outcome of JettStream," he said.

Investors expect between 20 and 30 companies will submit business plans to complete in the Launch Stage Company category. After about six weeks of review and due diligence, five companies will be invited to compete for the investment.

Vincent said investors seek companies that have developed a completed business plan and have largely overcome technology and logistical issues. Such companies may be engaged in beta testing or a limited rollout and are ready to launch into a market. They also may be earning revenue already or be in operation but need capital to grow.

The conference will again see a $7,500 for a Concept Stage Company award. The previous two winners include Ladder Tite of Grants Pass and JOMA Films of Ashland. The award includes a $2,500 cash grant and in-kind business development services.

— Greg Stiles


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