Battle Creek Unlimited

Location

Battle Creek, MI

  

Build to Scale Program

Capital Challenge

  

Project Name

Food and Beverage Investors Network

  

Award Amount

Federal Share

Local Match
 

$147,750

$160,000

This EDA investment aims to increase Battle Creek Unlimited’s (BCU) capacity to vet, validate, and make critical seed and angel investments in compelling Western Michigan innovation-based, early stage, high-growth food manufacturing companies.

Specific proposal objectives are to:

  1. Recruit and train new angel investors;
  2. Provide a path into pre-seed, and seed fund investment for trained individuals from diverse backgrounds;
  3. Increase the pool of trained angel investors for seed funds regionally;
  4. Increase access to capital for technology-enabled food processing entrepreneurs in the Midwest region by exposing new funds and fund managers to regional investment opportunities; and
  5. Use existing training sources and the statewide capital network for leverage.

BCU’s creation of the BC Angel Group is one element of a broader effort to implement a food innovation plan for Battle Creek that includes: (1) a robust entrepreneurial culture; (2) a density of founders, mentors, and investors that are connected through networks, spaces, and shared experiences; and (3) the presence of sufficient, centralized capital sources at all stages that over time support a diversity of investor types and investment vehicles.