It's not just entrepreneurs setting up shop in TechTown these days. The money people who make Great Lakes Angels have also moved into the Detroit-based business incubator as of June.
This is the second time the member organization of investors has set up shop in
TechTown. It moved from TechTown to Oakland University in 2007. Great Lakes Angels came back to the Motor City to establish a more central location in Michigan’s entrepreneurial breeding ground.
"We want to be at the center of the action, not at the perimeter of it," says Rick Galdi, president of
Great Lakes Angels. "I think TechTown is going to be the epicenter of a new entrepreneurial ecosystem in the state."
Angel investors are wealthy individuals who invest significant sums of money (think six figures and up) in promising start-ups. Angel investors usually precede larger investments, such as those that come from venture capital firms.
Great Lakes Angels is made up of about 20 of these angel investors. The group has help spur the investments between $250,000 and $500,000 in about a dozen companies since it was founded in 2002.
Source: Rick Galdi, president of Great Lakes Angels
Writer: Jon Zemke
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