Battle Creek Unlimited
Location |
Battle Creek, MI |
|
|---|---|---|
Build to Scale Program |
Capital Challenge |
|
Project Name |
Food and Beverage Investors Network |
|
Award Amount |
Federal Share |
Local Match |
$147,750 |
$160,000 |
|
This EDA investment aims to increase Battle Creek Unlimited’s (BCU) capacity to vet, validate, and make critical seed and angel investments in compelling Western Michigan innovation-based, early stage, high-growth food manufacturing companies.
Specific proposal objectives are to:
- Recruit and train new angel investors;
- Provide a path into pre-seed, and seed fund investment for trained individuals from diverse backgrounds;
- Increase the pool of trained angel investors for seed funds regionally;
- Increase access to capital for technology-enabled food processing entrepreneurs in the Midwest region by exposing new funds and fund managers to regional investment opportunities; and
- Use existing training sources and the statewide capital network for leverage.
BCU’s creation of the BC Angel Group is one element of a broader effort to implement a food innovation plan for Battle Creek that includes: (1) a robust entrepreneurial culture; (2) a density of founders, mentors, and investors that are connected through networks, spaces, and shared experiences; and (3) the presence of sufficient, centralized capital sources at all stages that over time support a diversity of investor types and investment vehicles.