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Corridor Angel Investors Selects Startups for August Meeting

July 24, 2018, Cedar Rapids, IA – After reviewing 20 applications, Corridor Angel Investors (CAI), Eastern Iowa’s accredited angel group, selected two Eastern Iowa-based startups to pitch at their August 2nd meeting.
“We have two great Iowa companies who will pitch at this meeting, each in different industries: biotech and the latest in technical survey drones,” said NewBoCo General Counsel and CAI program manager Frank Camp.

The August meeting will be held in Iowa City and is open to CAI members and potential members. Those interested in joining the network can sign up on NewBoCo’s website and attend the meeting to get more information about the companies.

In order to become a CAI member, individuals must self report as a SEC accredited investor. The SEC defines human accredited investors as individuals who consistently earn more than $200,000 per year, couples with consistent combined income of more than $300,000 per year, and individuals whose net worth (excluding primary residence) is at least $1 million.

Startups interested in pitching to the CAI network have another opportunity in October. The deadline for applications is September 24.

“Applying to the Corridor Angel Investor network is a great way to get your company noticed by potential investors in our area–whether you are chosen to pitch at this meeting or not,” Camp said. “We circulate company information to our members and offer constructive feedback to all applicants.”

Since its founding in 2017, CAI has reviewed more than a hundred applications from Iowa-based companies and has selected eight companies to go through further due diligence. Members in the network have invested in two companies to date.

About Corridor Angel Investors

Corridor Angel Investors is a group of individual investors formed in 2017 and interested in investing in early-stage, Iowa-connected companies. Our membership is open to accredited investors from any profession or industry background. This program is an initiative of NewBoCo, and supported by the Iowa City Area Development Group, Shuttleworth & Ingersoll, the City of Cedar Rapids, the IEDA, and the University of Iowa. NewBoCo is a non-profit corporation, which powers Iowa Startup Accelerator, the ISA Fund I investment fund, Vault Coworking, and numerous other entrepreneurial and innovation programs. The group provides local angel investors access to deals from the Iowa Startup Accelerator program and national, regional, and some international startups that have a strong connection to Eastern Iowa.

We provide tools and a platform for members to view and exchange information about investment opportunities, collaborate on due diligence, but members make their individual investment decisions. This is not a fund. We also provide education for new angel investors, to help them build a diversified investment portfolio. All material provided is for informational purposes only and should not be viewed as tax, investment, legal or other advice, nor is it to be relied upon in making an investment or other decision. Nothing in the material is to be construed as a solicitation, offer or recommendation to acquire or dispose of any investment or engage in any other transaction. Investors should investigate any and all opportunities before considering an investment. Corridor Angel Investors is not responsible for representations made by or for any of the attending companies or attendees.

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