Baylor Angel Network tops $1M in 2012 funding
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Much of the recent growth in the Central Texas economy comes from entrepreneurs and small, start-up businesses, but many of them need help getting off the ground.
That’s often where angel investors step in, including the group of investors known as the Baylor Angel Network.
"We're looking for companies that will have high growth and will be profitable and ready for acquisition in three to five years," Kevin Castello with the investors group said.
Hyperwear, a burgeoning exercise equipment manufacturer, is one of six companies to receive funding from the network this year.
"The Angel network gave us an opportunity to get off the ground," Hyperwear CEO Denver Fredenburg said.
“We felt like they had really unique products, they had a good application, they had a great growth track," Castello said.
What differentiates the Baylor network from other groups of angel investors is that Baylor business students are the ones to analyze which companies to fund.
"It's a great way for them to get a real hands-on look at companies." Castello said. “CEOs have said they were really surprised and blown away by how just insightful our students are."
Since 2008, the investment fund has awarded more than $3 million to small businesses. The average investment from the Baylor Angel Network is about $200,000 dollars.