Erie is a promising place for entrepreneurs seeking their fortunes in new technologies and products. That's clear by examining area startups and the impact of institutions like Penn State Erie and the Erie Technology Incubator at Gannon University.
After being alerted to this fact the BlueTree Allied Angels, an angel-investor group based in the Pittsburgh suburb of Wexford, explored the idea of starting an Erie chapter. That chapter launched in February and now counts 14 investors as members. The group would love to add more. “There is a critical mass of credible investors in the area,” says Catherine Mott, CEO of BlueTree's sister company, BlueTree Capital Group. “What makes an angel group strong is not just aggregating your money, but aggregating your knowledge.”
The Erie chapter hasn't invested in any companies yet. Mott foresees its portfolio including sectors that already have a presence in the region, such as online security, medical devices and information technology.
She hopes this relationship between investors in the two major cities in western PA will evolve into a partnership among the wider region. Mott would love to see investors in the Sharon and Hermitage areas join BlueTree as well. “I would like to see the whole western PA corridor connected together,” she says.
Source: Catherine Mott, BlueTree Capital Group
Writer: Rebecca VanderMeulen