ASHLAND, Ky. (Oct. 7, 2014) – Tri State Angel Investment Group is being established by the Kentucky Innovation Network Office in Ashland to provide more financial support for entrepreneurs and small businesses in northeastern Kentucky.
TSAIG has already created an investment fund and is focused on investing in startup businesses throughout the region.
The Shaping Our Appalachian Region initiative has a keen interest in promoting economic development, job training and education in Eastern Kentucky, and seeks alliances with interested businesses and investors to enhance job opportunities in Kentucky’s eastern counties.
“Eastern Kentucky businesses will no longer need to go out of the area to obtain funding help,” said Mick Fosson, director of the Kentucky Innovation Network Office in Ashland. “Our team, made up of savvy, successful and dedicated business leaders, has worked diligently to have a significant fund available. Now, we are ready to begin the process of looking at investment deals and helping our regional businesses succeed.”
In addition to working directly with entrepreneurs, TSAIG also plans to collaborate with the Kentucky Cabinet for Economic Development, the Kentucky Innovation Network, Kentucky Angels Network (Kentucky Angels), the SOAR initiative and other groups to encourage innovation and strengthen the small business climate in Eastern Kentucky.
“By increasing the exposure between investors and entrepreneurs, we can provide opportunities to invest in Kentucky’s companies of tomorrow and provide growth capital to entrepreneurs,” said Mandy Lambert, commissioner of business development in the Kentucky Cabinet for Economic Development. “TSAIG will support and grow the entrepreneurial and creative communities in the region.”
The announcement of TSAIG comes nearly a year after Gov. Steve Beshear launched Kentucky Angels. A virtual network that links companies pursuing funding with would-be investors statewide, Kentucky Angels brings accredited investors and new ventures together via monthly online meetings.
Find out more about Kentucky Angels at KYAngels.net.
For more information about the SOAR initiative at soar-ky.org.