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Investors take a look at entreprenuers’ work – 400 attend the Enterprise Institute Innovation Expo 2005 in Sioux Falls, South Dakota

There were some angels walking among the nearly 400 people who attended the Enterprise Institute Innovation Expo 2005 on Wednesday.

In addition to entrepreneurs looking for help starting or growing a business, there also were angel investors at Ramkota Exhibit Hall, weighing opportunities to invest in and mentor start-up firms.

Most are members of the Enterprise Institute’s new "Enterprise Angels" group, which was formed in July as a way to help entrepreneurs obtain financing and expertise.

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"It is a network of angel investors who meet quarterly to look at companies and decide whether to invest their money and time," said Marcia Hendrickson, director of the Enterprise Institute. "Most of them are from South Dakota and the others usually have some kind of connection to the state."

Angel investors are accredited investors who invest money and business expertise in start-up companies. They are similar to traditional venture capitalists, but they often invest earlier in the start-up cycle when the risk is higher. An accredited investor must have a net worth of at least $1 million and an income of at least $200,000 in each of the past two years.

JIM CHEESMAN
[email protected]

Full Story: http://www.argusleader.com/apps/pbcs.dll/article?AID=/20051020/BUSINESS/510200315/1003

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