Tuesday, January 25, 2011

Oregon Growth Account Commits $175K For Angel Conferences

The Oregon Growth Account, which provides economic develop funds to Oregon organizations, has committed $175,000 two five angel investment conference in Oregon for 2011, which will benefit the Oregon Entrepreneurs Network's Angel Oregon 2011 and Bend Venture Conference, The Southern Oregon Angel Investment Network (Medford), The Willamette Angel Conference (Corvallis/Eugene), and The Gorge Angel Investment Conference (The Dalles). According to the OEN, The Oregon Growth Account has promised to provide partially matching investment funds, worth 25 percent for angel capital raised. For Angel Oregon 2011 and the Bend Venture Conference, they must raise at least $100,000 in investment capital, with a 25 percent match from the OGA, and a cap of $50,000 in OGA funds. For the other three, they have to raise at least $75,000 in investment capital, with a cap of $25,000 in OGA funds. In a statement, OEN Angel Oregon 2011 chair, Jim Huston said that the OGA vote was an "enormous show of support for the value of startups to the development of the Oregon economy and job growth".