NEWS      CONTACT US      LOG-IN

The Petoskey News-Review: NMA Concludes 10th Year with Record Investments

Tags: , , , , , , , ,

Northern Michigan Angels conclude 10th year with record investments
By: Tess Ware, The Petoskey News-Review – Business January 29, 2022

View the Full Article

The Northern Michigan Angels investment group recently concluded their 10th year investing in the Northern Michigan economy.

In 2021, the organization reached a new single-year record, investing $1.3 million in seven different companies. Most of the organization’s investments
go into technology and other STEM-based companies, which brings programming, engineering jobs, as well as others, to the region. Northern Michigan Angels is a nonprofit investment group that hears pitches from entrepreneurs. They then offer not only money but also expertise to businesses as they begin operations.

Northern Michigan Angels current and new board members welcomed their new executive director on Nov. 4, 2021 at 20Fathoms. Pictured (from left) are Steve Lang, Dave Summers, Jody Trietch, executive director, Deanna Cannon, board chairperson, Jeff Hamilton, Liz VerSchure, Doug Morgenstern and John Zaloudek.

“We want to create jobs, those high tech jobs that will attract some of the children who are graduating and leave the area and don’t feel like they can come back and live in Traverse City,” said Deanna Cannon, board chair, founding member and former executive director of Northern Michigan Angels. In 2011, Cannon saw a need for an organization that would invest in Northern Michigan businesses and began to look into angel investing. An angel investor is a high-net worth person who uses their own money to invest in start-up companies in exchange for an equity share of the businesses, according to The Angel Capital Association.

Cannon formed an advisory board and the organization officially launched in 2012 with four people volunteering their time to get the organization up and running.

After 10 years as executive director, Cannon stepped down from her position, although she will continue to serve as chairman of the board. In November, Jody Trietch took over as executive director after leaving her position as chief financial officer of Boomerang Catapult.

“I think that there’s incredible opportunity, as more companies either move here or start here, but they need the support and the access to capital,” Trietch said. “So to be a part of that success of those companies in this region is really exciting.”

In 2022, Trietch plans to increase member engagement through workshops, monthly roundtables, pitch meetings and socials. One of the endeavors Northern Michigan Angels helped fund was Thermavance, solid state heating and cooling technology owned by the company Promethient.

Thermavance is built into seats and heats or cools without using airflow. This makes the technology ideal for vehicles like motorcycles that are often exposed
to the elements. Since Thermavance doesn’t use airflow, there are no holes in the seat that can get clogged with dirt or rainwater.

Promethient CEO Bill Meyers said the Northern Michigan Angels have provided diverse industry experience, as well as funding,
“They’ve been a great sounding board for ideas, our business plan. It’s one thing to get an investor but it’s another thing to get, really a consultant that
can help you scale a business, in addition to providing the funds that help you get there,” he said.

According to Cannon, Northern Michigan Angels plans to continue investing in endeavors that can benefit Northern Michigan.

“We say ‘we invest on the jockey, not the horse,’ meaning we invest in the entrepreneur. In their ability to pivot as needed, their ability to take advice,
because that is what is going to be needed along the way,” she said.

20 Fathoms Logo

20 Fathoms May Update

Tags: , , , , , , , ,

Here are the latest updates from our community partner 20 Fathoms…

 

Virtual Event with Google Cloud’s Director of Global Healthcare Solutions, Aashima Gupta
Thursday, May 6, 12 pm EST
“Digital Health 2025”

In her role at Google Cloud, Aashima Gupta sets the direction for the transformative healthcare solutions and leads engagement with healthcare key executives in helping transform their business strategies that define new models for care, revenue generation and improved patient experiences.Virtual Event with Clinical Officer, Exponential Technologies Center of Excellence at Anthem, Elif Oker, MD
Thursday, May 20, 12 pm EST
“Health in 2026:  The Changing Care Landscape”

In this presentation, Dr. Elif Oker will provide insights into what this new dynamic means for making healthcare more personalized, predictive, and proactive. Participants will also learn how health systems, clinicians, patients and payers are adapting to digital models of care delivery, addressing social drivers of health, and supporting people impacted by the digital divide.

Virtual Event with Co-founder of U.S. Robotics and Principal of Boomerang Catapult, Casey Cowell, and Co-founder & CEO of HealthBridge, Greg VandenBosch
Thursday, Jun. 3, 12 pm EST
“Building an Investor/Tech Startup Relationship”
Highly successful entrepreneurs Casey Cowell and Greg VandenBosch share their expertise on building tech companies and fundraising in the Midwest, far from the coastal startup and investment hubs.

NSF and NVCA: Invention to Impact
May 12, 1:00 pm
Innovation programs at the National Science Foundation (NSF) advance ideas from the laboratory to the marketplace to strengthen America’s economy, health, and security. The Division of Industrial Innovation and Partnerships (IIP) in the Engineering Directorate leads several programs to translate fundamental research into market solutions. IIP supports and trains researchers with promising technologies, as well as funding high-tech startups. Learn about the NSF’s central role in accelerating the growth of the national ecosystem and hear about specific funding opportunities.Scale Up North Awards
The Scale Up North Awards recognize and celebrate the vibrant and varied companies doing business up north, their achievements, and their impact on the community and economy. This year’s finalists for the Emerging Business Award are Common Good Bakery, Earthen Ales, and Taste the Local Difference. Finalists for the Hagerty Scaling Business Award are Higher Grounds Trading Company, Short’s Brewing Company, and Traverse City Whiskey Co. Attend a virtual event:

NEW! Full Stack React Developer (Contract)
20Fathoms member business Allovance is a software start-up focused on strategic prioritization, strategic alignment, and decision-making. They are seeking a full stack JavaScript developer who is proficient with React.js.Full Stack Developer
This is an exciting opportunity to join the growing tech team at Starboard Solutions, a 20Fathoms member business. Starboard was founded on a simple principle: make supply chain design fast, powerful, and catered to the needs of supply chain leaders. This is a remote position, although candidates must live in Michigan, Colorado, or Montana.

Associate (Portland, OR)
As a member of the Portland Team, the Associate will be responsible for building, maintaining, and improving advanced financial models. You will create data‐driven marketing materials for customers to demonstrate the value of energy supply and data and prepare investment memoranda and presentations for team leaders. This position requires a high level of understanding of the energy industry and project financing to support construction and operations of projects including tax equity and debt. Please send resumes or leads to careers@20fathoms.org.

Associate, Strategy & Innovation
20Fathoms seeks to hire an Associate, Strategy & Innovation. As a member of the Innovation Team, this associate will help lead efforts to develop unique energy solutions for data centers utilizing both on- and off-site energy assets. Responsibilities include market research, investor communications, financial modeling, and utility data analysis. This position requires a high level of understanding of the energy industry, as well experience in banking, consulting, or transaction advisory services. Please send resumes or leads to careers@20fathoms.org.

Americorps VISTA: TCNewTech & 20Fathoms
TCNewTech and 20Fathoms seek an Americorps VISTA for a full-time, 12-month volunteer position based in Traverse City, Michigan. In this position, the VISTA will help expand organizational capacity through community outreach and membership program support. Contact keri@20fathoms.org with questions.

Dell Boomi Integration Developer
20Fathoms seeks to hire a Dell Boomi Integration Developer to join a global team building out a world-class FinTech platform. This position requires you to be hard-working, dedicated, and desirous of being part of a major disrupter in healthcare and fintech industries. You must be experienced with cloud-based architecture and comfortable working in a cross-functional team, in addition to other requirements. Send leads/referrals to careers@20fathoms.org and Erich will follow up with them.

Software Development Engineer
20Fathoms seeks to hire a Software Development Engineer to work collaboratively in a global team to build and implement a world-class cloud-based FinTech platform. You’ll be building out RESTful APIs using Java and Spring Boot or Hibernate, solving bottlenecks within an Agile team environment, working with cross-functional teams, and more! Send Leads/referrals to careers@20fathoms.org and Erich will follow up with them.

Job Board for Local and Remote Tech Professionals
Looking for your next opportunity in tech? Check out our Tech Job Board, curated weekly for remote job opportunities for developer, design, and marketing tech professionals.

20 Fathoms’ Sponsors