Tech investors bolster startup culture in the South
March 16, 2015
Entrepreneurs of tech and IT startups are presented with a daunting array of challenges from the moment they file a patent or make their first hire: they need to ensure that their product is ready for the big time. They have to keep the competition in mind and identify a point of differentiation. They also must make the right hires and grasp the concepts of pacing and market penetration.
Yet perhaps the most challenging task for a tech entrepreneur is the process of raising capital. Investors are dogged researchers. They dig into the past and ask loads of questions about the future. They call for extensive reports that outline a clear business model on immediate plans and projections.
That said, the recent upswing of the U.S. economy has created a more active environment for tech investors. Take a look at tech scenes around the country and you’ll find that investors are staying plenty busy, leading to a strong employment market for IT workers.
Angel investors consider tech startups in Florida
The Northeast Florida Angel Investor Summit in Ponte Vedra, Florida, brought more than 40 angel investors to hear pitches from four early-stage tech companies, according to the Jacksonville Business Journal.
The summit served as a way to encourage startups tech businesses to stay in the region, rather than move their operations to a more traditional tech locale.
“People will move, they’ll go to other cities if they can’t find the funding they need,” Kathy Chio, the CEO of Florida Angel Nexus, told the publication. “But these startup companies need to get to the point where they are sustainable so that the angels that are here in Florida – and in this area, in particular – will want to invest in them.”
A new investment in Georgia’s Tech’s accelerator
WorldPay, a global payment processing company, has invested $1 million in a financial technology accelerator at the Advanced Technology Department Center at Georgia Tech, the Atlanta Business Chronicle reported.
The accelerator is expected to foster an atmosphere of local talent and startups that could further strengthen an already major financial payments market in the city.
“To sustain our competitive advantage, we must continue to innovate and attract top talent, both key drivers behind this groundbreaking partnership,” World Pay CEO Tony Catalfano told the news outlet. “Our commitment is about investing in the smartest, most-creative innovators so the next generation of financial technology will be built right here in Georgia.”