Aug. 10, 2017
City Partnering on Regional Angel Investing Initiative
By Councilmember Nora Ellen
The City of Chandler is working with a number of East Valley partners to bring more angel investment dollars to the region. Our goal is to build on Chandler's reputation as the Innovation and Technology Hub of the Southwest by making our city the perfect spot for start-up growth. Many of the key elements are already in place. Chandler has a thriving high-tech sector, dynamic maker movement cluster, multiple co-working spaces, and a business incubator that provides valuable entrepreneurial programming and services. This new regional initiative seeks to provide start-ups with one more key resource - access to early-stage funding.
There is no shortage of great business ideas in our region. East Valley businesses hold their own when it comes to securing patents and competitive research dollars. What we lack is the robust funding ecosystem for start-ups that can be found in capital formation hotspots like Los Angeles, San Francisco and Boston. As a result, our tech start-ups often have a harder time getting the capital they need to grow. We believe that angel investing is an opportunity to change this.
Angel investing is when individuals invest their own money in start-ups in exchange for an equity share of the businesses. In addition to capital, angels often mentor companies in their investment portfolio to help them grow. While return on investment is the ultimate measure of success, many angels are also motivated by a desire to give back to their local community by supporting budding entrepreneurs.
Over the coming months, we will work with our partners to raise awareness of the importance of angel investing and to start building a network of East Valley angel investors. Additional details about angel investing and opportunities for education on the topic are forth coming so stay tuned! Visit chandleraz.gov/angelinvesting for more information.