Much like raising children, it takes a village to nurture business start-ups. So it is that Ben Franklin TechVentures has announced a new partnership with Lehigh Valley Angel Investors.
“It's a natural partnership really,” says Wayne Barz, TechVentures' manager of entrepreneurial services. “Ben Franklin Technology Partners often incubates and invests in a company when it is still finalizing products or entering beta customer relationships. Angels tend to wait until the results of those steps are successful.
“We were seeing a lot of our clients get some investment from us and then get selected to make a presentation to LVAI. So having our two groups in a more formal relationship like this makes both logistical and philosophical sense.”
An official relationship with the angel group is also a draw for prospective TechVentures clients, providing exposure and proximity to potential investors. LVAI members will be also be available to coach TechVentures clients and serve on panels at events such as annual Ben Franklin Venture Idol event.
For LVAI, the partnership promises greater visibility, resources, meeting space and hopefully, new members who in turn, might be interested in investing in TechVentures firms.
Established in 2010, LVAI has so far invested in Orion Fleet Intelligence, EggZack, mdCurrent and Common Place.
“Ben Franklin TechVentures is ideal – a beautiful, modern facility in which entrepreneurship flourishes,” said LVAI President Kyle David in a statement. “Our affiliate partnership will lend credibility and permanence to the Lehigh Valley investors group, as well as encourage networking among the investors and the early-stage firms occupying TechVentures.”
Source: Wayne Barz, Ben Franklin TechVentures
Writer: Elise Vider