Thursday, August 26, 2004
Iowa has a good idea going. It is propomoting the development of angel networks by providing a legal template. In addition, If the fund is capitalized at a minimum of $500,000, has qualified investors, and invests in two qualified companies in three years, investors may apply for Iowa Tax Credits.
Herte's an example of how an angel group formed in Lee County (population 38,000). Read more.
You can learn more about Iowa's Regional Angel Investor Network (RAIN) initiative on this page.
The challenge of forming angel investor networks on a small scale is deal flow. Some investors will become discouraged, so it is important to manage expectations. The key is not to look for a few high growth businesses, but to change the local climate to encourage entrepreneurial networks. An angel investor group is just one of the nodes in this network.
posted by Ed Morrison |
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Some Background on EDPro Weblog
The purpose of this weblog is to help economic development professionals -- EDPros -- keep up with the changes sweeping our profession. Strap on your goggles. It's a whole new game. There are no experts any more. The only place to learn about economic development is from other EDPros who are doing it.
One other point: the prevaling approach (paradigm, if you like) in economic development is shifting from competition to collaboration. There are a lot of reaasons underlying this shift, but here's the important insight: You, your community, and your region will do better by collaborating and sharing information.
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Speaking and workshops on Open Source Economic Development
As the idea of Open Source Economic Development starts spreading, more people are asking about it. Visit the I-Open web site to learn more. My colleagues and I are happy to explain the basic concepts in a talk or a workshop. E-mail Susan Alshuler if you'd like to learn more about workshops and speaking.
Background on Ed Morrison
Download some background information on me here.
Iowa's angel investor initiative
