Area group’s goal connecting investors, start-up businesses
In the past decade, Arkansas has nurtured a healthy entrepreneurial ecosystem by providing entrepreneurs with the tools and support they need to grow and develop their early stage businesses. Across Arkansas there are incubators and accelerator programs that support a host of industries, including banking, technology, health care and finance.
This week, business leaders in Central Arkansas are planting another seed that will encourage the development of startup businesses.
The Central Arkansas Angel Network is forming to recruit accredited investors and to help connect early stage companies with financial supporters. The nonprofit is holding a reception at 5:30 p.m. Thursday at the Venture Center in downtown Little Rock to promote its efforts.
The network’s four board members are Jeff Amerine of Startup Junkie Consulting and Cadron Capital partners; Dr. James Hendren, former chairman and CEO of Arkansas Systems and an entrepreneurial supporter for more than 30 years; Little Rock attorney Bryan Hosto; and Alese Stroud, a founding partner at Vortylon, a Little Rock firm specializing in mergers and acquisitions.
“We’re just trying to grow the ecosystem and support economic development in Central Arkansas,” Hendren said, noting that there is no similar organization in Arkansas.
The network will host education sessions twice a month, presenting advice and tips on how to make better investment decisions regarding early stage companies.
You must meet accredited investor thresholds to participate in the network. That criteria for an individual includes earned income that exceeded $200,000 (or $300,000 together with a spouse) in each of the prior two years, and reasonably expects the same for the current year, or has a net worth of more than $1 million.
The network will scout for potential companies to invest in and members will be able to hear presentations from those companies and decide whether they are worthy of financial support. Each individual member will decide whether to invest money in a company. The network will conduct due diligence and handle documentation.
“We’ll help members put a deal together if they need help – but we’re not brokering the deal,” Hendren said in explaining the board’s role. “Each member will decide what to invest in.”
Organizers modeled the program after a similar effort in Austin, Texas, and hope to attract 100-150 participants willing to invest in Central Arkansas’ startup businesses.
One primary push will be to attract younger investors who can use additional advice and expertise when considering financial support for early stage companies. “This is ideal for younger investors so they can dip their toes in and get educated rather than making a big commitment,” Hendren said.
Annual dues are $2,000 for an individual and $4,000 for a group. Members can participate in continuing education courses that will include lunch and learning events and panel discussions.
More information is available at www.centralarkansasangelnetwork.org.
Sign up now to attend the 26th annual Arkansas Busi-
ness Forecast Luncheon, which will be held from 11:30 a.m.-1:30 p.m. on Thursday in Rogers.
The Center for Business & Economic Research hosts the event, bringing together national and international experts to discuss the state, national and global economic outlook.
The luncheon is a regional networking opportunity that draws more than 1,200 business and community leaders to the John Q. Hammons Center in the World Trade Center District in Rogers. Registration information is available at (479) 575-4151.
Luncheon attendees are welcome to participate in a networking event at the Hammons Center from 10:30-11:20 a.m. Coffee and light refreshments will be provided.
Individual tickets are $85 with the option to purchase a table of 10 for $850.
3, 2, 1 … BLASTOFF
Entrepreneurs are invited to Vilonia on Friday to learn more about how a former nuclear missile silo has been transformed into a thriving company.
The Conductor, a Conwaybased entrepreneurial support organization, is hosting Disrupted!, an event to introduce entrepreneurs who are changing the way business is done in Central Arkansas.
Learn how GT Hill bought and then overhauled a Titan II missile silo, creating a club, bar, meeting rooms, team-building center and living space. The event is free and lunch from Tacos 4 Life will be provided. The event is from 11:30 a.m.1:30 p.m. at 23 Missile Base Road in Vilonia.
LEADERSHIP DEVELOPMENT PROGRAM
The Little Rock Regional Chamber of Commerce is working with two business trainers to start a training and development program for highpotential managers and directors.
The initiative will be Arkansas’ first Vistage Emerging Leader program, a comprehensive business and leadership curriculum that provides realworld business and leadership training specifically for middle managers. It is open to all area companies, though chamber members who participate will be provided private coaching consultation ($1,000 value) as an added program benefit.
Barry Goldberg of IBGold-berg and Brad Cousins of Ingage Human Capital Strategies will lead the training, which begins Feb. 7.
As part of the program, national experts will lead discussions around 12 critical-business disciplines, including change management, business strategy, performance management and customer focus.
The program costs $5,100 per year and requires a twoyear commitment. More information is available at www.emergingleaders-littlerock.com.
ACCELERATOR REGISTRATION
Registration is now open to entrepreneurs who want to participate in the FIS Fintech Accelerator program, which begins in June at the Little Rock Venture Center.
Ten startups will be selected to receive mentoring and feedback from financial services executives along with a seed investment in their company. March 6 is the deadline to apply.
The 12-week accelerator program, now in its fifth year, supports startups focused on providing financial technology services.
Past participants in the accelerator have won numerous industry awards and raised tens of millions of dollars in capital to advance their businesses. The program also helps connect the startup companies with potential customers in the financial services industry.
More information is available at www.venturecenter.co/fisfintech.