FOR IMMEDIATE RELEASE:
Roseburg area Angel Investor Network 2016
Roseburg, Oregon September 15, 2016
The fourth RAIN (Roseburg area Angel Investment Network) conference is now accepting applicants for both an investment for a “launch” stage company and a prize package for a “concept” stage company through October 11.
The application instructions are at: http://rainangel.org/. Deadline to apply is October 11.
Local companies are invited to apply for either competition.
The “launch stage” investment is anticipated to be at least $150,000. Any Oregon-based early stage company is eligible to compete.
The RAIN investors (mostly private investors with an additional investment from the Oregon Growth Account, i.e. the State of Oregon) have invested over $600,000 in four companies over the first three years of the competition. Last year’s Launch Stage winner was HoneyComb, a drone-based aerial imaging company. Investors are primarily from Douglas County and surrounding counties and would very much like the opportunity to make a local investment.
In 2016 RAIN investors will also create an investment pool for investment over the next year in local companies. The goal is to make investments in local companies with the potential to broaden the local economy. RAIN anticipates investing in 1-6 companies per year with an expected investment of $5,000 to $20,000.
The Concept Stage competition is for business ideas or very early stage companies seeking assistance to get started. Only Douglas County businesses are eligible. The winner will receive a prize package, including cash and business services worth $5,000.
The 2016 Conference will be held at Danny Lang Center on December 1, 2016. Winners of both the RAIN “launch stage” investment and the “concept stage” business competition will be announced.
The Umpqua Business Center, in cooperation with the UCC Small Business Development Center and The Partnership for Economic Development in Douglas County, is organizing the conference and supporting the RAIN investor LLC.
The Umpqua Business Center (UBC) is an integral part of a comprehensive economic development plan for Douglas County, accelerating the development of start-up businesses in a business incubation setting. Developing local, homegrown businesses complements regional efforts to encourage expansion, retention and attraction of companies. The long-range goal is to create new, stable and successful businesses that contribute to the general economic health of the area, increase employment opportunities and add to the variety of products and services available to its citizens. umpquabusiness.com
The Partnership for Economic Development in Douglas County, formerly known as the Umpqua Economic Development Partnership, was established in 2001 to be the lead collaborative economic development organization in the region. The Founding Partners were: the City of Roseburg, Roseburg Area Chamber of Commerce, Douglas County Industrial Development Board, and CCD Business Development Corporation. www.uedpartnership.org
RAIN is an effort to foster a better environment for entrepreneurship in Douglas County. The primary vehicle is a private company (an LLC), through which local investors are coming together to invest in one early stage company. (See: http://www.rainangel.org/)
For additional information:
RAIN 2016 Managing Member
Umpqua Business Center