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ANGEL INVESTMENT NETWORK Investors' focus shifts to local, small ventures Comment By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Dec. 2, 2014 at 5:46 PM By Greg Stiles Mail Tribune Posted Dec. 2, 2014 at 5:46 PM SO Angel Network Funding --> Year;Amount;Company;City 2011;$300,000;Folium Partners;Ashland 2012;$160,000;Montrue Technologies;Ashland 2013;$220,000;JettStream;Bend 2013;$20,000;Farming Fish;Rogu... » Read more X SO Angel Network Funding Year;Amount;Company;City 2011;$300,000;Folium Partners;Ashland 2012;$160,000;Montrue Technologies;Ashland 2013;$220,000;JettStream;Bend 2013;$20,000;Farming Fish;Rogue River 2014;$215,000;Nouvola;Portland 2014;$150,000;Folium Partners;Ashland (follow on investment) 2014;$80,000;Homeschool Technical Apparel;Portland 2014;$20,000;JOMA Films;Ashland » Social News As the Southern Oregon Angel Investment Network enters its fifth year, the organization is taking a new tack. After investing nearly $1.2 million in seven companies since 2011, several dozen Securities and Exchange Commission-accredited investors who have participated in one or more previous funding rounds have agreed to a different approach for 2015. Instead of building toward a one-day, winner-take-all approach, the SOAIN has formed a five-person vetting committee that will review applications and pass them along to the overall membership for funding consideration once they are deemed ready for investment. "The majority of our network members want to make local investments," SOAIN founder Steve Vincent said. "When Portland and Bend companies secured funds two out of the four years, we were losing investors." In addition to the major winners, announced at the annual competition, funding has gone in smaller amounts to companies closer to home. Going forward, more companies hindered by the limits of personal credit cards, home equity lines of credit, friends and family will have a better chance to grow. "Instead of a once-a-year thing, it will be ongoing," Vincent said. "We've had some pretty compelling runner-up companies, but if they didn't need $200,000, they probably weren't going to be looked at. Before, if someone was just looking for $50,000 and our pot was $100,000 to $200,000, then they weren't viable candidates. Now, somebody may still be a viable investment and our investors will take a look at those lower amounts." Vincent said the larger group will convene two to four times a year after the vetting committee deems a company worth a deeper look. "This is what a lot of angel networks hope for when they grow up," Vincent said. "We were just forced to get there more quickly. There will be a local bias as well, taking in Jackson, Josephine, Douglas and Klamath counties." Under the new system, deadlines are no longer in place, Vincent said. As soon as business plans are submitted, the vetting will begin. Vincent said the model is patterned after the North Bay Angels, the oldest and largest angel investment group north of the Golden Gate.  Even before a general call for 2015 applications has gone out, two companies have applied. One is Klamath Falls-based Grow-Volution — a group of Oregon Tech entrepreneurs, led by Eric Wilson, interested in creating farm produce quickly, just about anywhere, without pests. Grow-Volution was the 2014 concept winner. Under the previous model, Grow-Volution probably wouldn't have received serious consideration for a larger prize, Vincent said. "They're needing $50,000, not a quarter-million dollars."  Vincent said he anticipates future submissions from start-ups that have worked with the region's small-business development centers, Sustainable Valley Technology Group, Avista Center for Entrepreneurship at Rogue Community College, and Southern Oregon University. "We're still looking for companies that will grow beyond local sales and revenue streams," Vincent said. "When you're exporting your product out of the valley, it means putting your syrup on 500 store shelves instead of one store." Reach reporter Greg Stiles at 541-776-4463 or [email protected] . Follow him on Twitter at www.twitter.com/GregMTBusiness , on Facebook at https://www.facebook.com/greg.stiles.31 , and read his blog at www.mailtribune.com/Economic Edge .   By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Dec. 2, 2014 at 5:46 PM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... 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