UWCHLAN TOWNSHIP — Entrepreneurs and startup companies in southeastern Pennsylvania have a new tool in their arsenal for transforming ideas from concept to commercialization.
The Ideas x Innovation Network (i2n), which is an initiative of the Chester County Economic Development Council, has launched a new regional investment group — known as i2n Angels.
Announced earlier this month, i2n Angels was founded to help fill the void of early stage funding that is available to startups and entrepreneurs across the region, according to information on the i2n Angels website.
Members of i2n Angels invest as a group of individuals — through Special Purpose Entities — in early stage companies that have “current or potential novel and innovative products, solutions or services,” according to a press release. In addition to providing capital, members of i2n Angels may offer their expertise, provide coaching and advice, and facilitate connections to the overall entrepreneurial ecosystem and targeted markets.
“The formation and implementation of i2n Angels is a natural extension of the services that i2n has provided to entrepreneurs for more than a decade, and we are excited to introduce this new capital resource that further advances our regional innovation ecosystem,” Matt Cabrey, director of i2n and the new i2n Angels investment group, said in a statement.
A member-driven angel investment organization, i2n Angels is focused on several core areas.
It will support startup companies in the tech and innovation sectors that are located primarily, but not exclusively, in the southeastern Pennsylvania region by providing early stage funding between $50,000 and $500,000.
In addition, it will provide opportunities for accredited investors who are seeking quality investments, who want to help early stage entrepreneurs, and who want to bolster southeastern Pennsylvania’s innovation ecosystem.
“While we do seek favorable financial returns for our angel investors, equally important to our members is giving back by offering our expertise, coaching and mentoring to today’s next generation of innovators,” Dan Ostien, chairman of i2n Angels, said in a statement. “Each of us as members of i2n Angels share a passion for helping others, as well for the future success of Pennsylvania, and this engagement is a tangible way to retain and grow businesses and talent in our community.”
There are several early-stage tech-focused sectors that i2n Angels look to support, including but not limited to — software, semiconductors, health tech, medical devices, biotech and life sciences, green tech, and smart energy solutions, among others i2n said.
Early-stage, tech-focused entrepreneurs and startup companies are invited to apply to present to the i2n Angels membership. Applications can be accessed and completed on the i2n Angels website.
The i2n Angels is the newest angels organization in Pennsylvania, according to the release, and is inviting accredited investors to become members. According to the website, the organization is growing, and expects to add between 25 and 50 members within the first year of operation.
For information about membership, and applying to i2n Angels, visit https://i2nangels.ccedcpa.com/
Since 2008, the Ideas x Innovation Network (i2n) has been helping entrepreneurs and startups across southeastern Pennsylvania to transform their ideas from concept to commercialization. Its mission is to “make southeastern Pennsylvania the best possible place for early-stage and technology-driven companies to start, grow, and thrive,’ according to information on the organization’s website. i2n Partners include corporate, academic, angel and venture capital investors, civic leaders, and entrepreneurs from across industries.