Local network to benefit its own
BYLINE: Bruce Spence, The Record, Stockton, Calif.
Apr. 25--STOCKTON -- There's a new movement taking shape to form a network of angel investors -- local people of wealth willing to invest in local entrepreneurs with good ideas -- for San Joaquin County.
That not only can yield some lucrative returns for angel investors, it also will help launch and grow businesses and jobs in the county, said Mark Plovnick, director of economic development at University of the Pacific.
"It's double bottom-line investment," he said.
Plovnick is one of the organizers in a June 21 inaugural conference aimed at educating the community about how to create and use such an investors network. The conference is aimed at local business executives, entrepreneurs, angel investors, venture capitalists, professional services providers, consultants, educators and civic leaders.
The conference is being presented by University of the Pacific, San Joaquin Partnership and Business Council, San Joaquin Delta College Small Business Development Center, San Joaquin County Economic Development Association, Central Valley Fund and Golden Capital Network.
"One of the financial tools that this area has always lacked was financial support for growing businesses that need more capital," said Joe Johnson, former president and chief executive officer of Union Safe Deposit Bank and one of the committee members shaping up the session. "This conference is an important part of the process in creating a vehicle to help our growing businesses."
The conference will feature Lt. Gov. John Garamendi and Franklin Johnson, who is a founding partner with the long-time Silicon Valley firm Asset Management Co. In addition to keynote speakers and presentations by businesses, the conference will feature panels representing many of Northern California's angel investor groups and venture capital funds.
Also, up to five San Joaquin County businesses will be selected to present to panels of investors that are actively seeking investment opportunities.
To apply to be a presenter, entrepreneurs must submit up to a three-page executive summary to entrepreneur@goldencapital.net. Initial cut-off date for submitting executive summaries is 5 p.m. Friday.
Contact reporter Bruce Spence at (209) 943-8581 or bspence@recordnet.com.
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