The Central Illinois Angels investment group is officially open for business.  There are 46 members of the group who are looking to invest in new companies in the Peoria area and beyond. 

The creation of the organization began earlier this year and last night (September 22nd) the group had its first meeting with three companies presenting potential investment opportunities to the group. The presenters included two Peoria NEXT Innovation Center tenants, Intellihot and Lumec Control Products, along with Bias Power.

Chuck Weaver, a Founder of Central Illinois Angels, says the group is excited to be moving forward with this initiative because it is not only an investment opportunity for those individuals in the Angels group but it is also a benefit to entrepreneurs.  The Angels will bring expertise, experience, contacts, and capital to help emerging and growing businesses. Mr. Weaver states, “Entrepreneurs will have to go through a detailed screening process and pitch their business plan to the organization members.  We will give them feedback that will help them through the startup process and also have one of our members be a champion of the business while the business works with Central Illinois Angels.  The entrepreneurs will be gaining information to help them polish their business plan and in the end possibly get the funding they need to grow their business.”

A website for the group will be launched soon, and the Board of Directors and Officers for Central Illinois Angels will be announced in October.  Entrepreneurs seeking additional information about the investment criteria for the group can contact Kip McCoy at kmccoy@h-p.org or 309-495-5925.