Angel FundingNicie Phillips
BEAUFORT DIGITAL CORRIDOR
CLOSES ANGEL INVESTMENT FUND FOR ITS COMPANIES
Beaufort, SC – November 18, 2020 – The Beaufort Digital Corridor recently closed a deal with Utah-based investment firm, JustStartGo, LLC, for up to $250,000 in seed capital for its incubator companies. This capital, otherwise known as Angel funding, helps startups and entrepreneurs develop their product ideas and validate their market demand.
Andrew Little, founder and Chief Executive of JustStartGo, stated, "We're proud to be investing in the companies of the Beaufort Digital Corridor. Their customer and market-driven process for developing their companies creates entrepreneurs who are much more likely to succeed in a competitive and challenging tech marketplace and saves us the time of having to screen out entrepreneurs who aren't ready yet. It's a valuable service to both entrepreneurs and investors."
The money will be deployed as seed-stage investment in $50,000 increments for resident companies of the BDC who qualify. BDC chairman Kevin Klingler who developed the BDC's company development and mentoring process indicated, "Our process includes rigorous customer and market validation, developing effective business models and the use of Agile product development techniques. These approaches and others result in highly improved chances for success." BDC mentors oversee this process with adherence to it's company development plan.
To qualify for the capital, companies must be residents of BDC's BASEcamp incubator, have a technology product or product idea with scalable potential, and be willing to put in the work necessary to develop their company. Angel money typically precedes Venture Capital investment and helps set the stage for further growth or investment.