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July 2014 News Update

July 2014 News Update

15:35 07 July in Uncategorized
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Welcome New Members!

The BlueWater Angels WELCOME New Member, Ted Morgan!  BWA member, Steve Ellebracht, sponsored Ted’s application…kudos to Steve!

Open Deals

RetroSense Therapeutics (Ann Arbor) – Series A Investment Opportunity:



RetroSense Therapeutics restores vision in patients suffering from blindness due to retinitis pigmentosa (RP) and advanced dry age-related macular degeneration (advanced dry-AMD).  There are currently no FDA approved therapies to improve or restore vision in patients with these retinal degenerative conditions.  www.retro-sense.com,

The company’s Series A round is still open and investments are welcome.  Existing investors can participate under anti-dilution option on a pro rata basis.

– Series A:  $2.5M of $5M completed at pre-money of $5.1M; 1x participating preferred.

– Additional $1M in soft commitments is expected to close in coming weeks; approximately $1.0M to $1.5M is available in the Series A remaining.

Accio Energy (Ann Arbor) – Series C  Investment Opportunity:

Accio Energy produces a wind generator technology that uses ionic charges in a water mist to produce electricity.  They have a seasoned management team, patents, and small scale demonstration systems.  The company presented at MMIC’s Heading for the Big Leagues in May 2014.  www.accioenergy.com

The company is actively raising a Series C Preferred round from Angel investors.  The company seeks $500K in additional investment (pre-money valuation, $9.8M) with plans to close its Series C round in July.

Accio’s Investor Report with financials, slide deck, and Term Sheet are confidential and available to BWA members on request. (Contact Judy at jmorrison@ip3inc.com; or  989-771-1007.)

2014 ACA Leadership Workshop

Save the date!  September 17-19, 2014, in Columbus, Ohio.  All interested angels from ACA member groups and individual ACA members are welcome!

This one-of-a-kind Leadership Workshop – a favorite of many ACA members – is your best opportunity this year to talk with and learn from the most active angels in North America in an interactive, intimate setting.  Besides great conversation, top level materials and the opportunity to connect regularly with your peers, attendees benefit from a $100 discount to the 2015 ACA Summit (next April 14-16 in San Diego).  Attendees may also attend the monthly investment meeting of the OhioTechAngels on the evening of September 17th, get deep into training with an ARI seminar, “The Angel Director’s Playbook”  or “Angel Investing Strategy” courses, and many opportunities to share practical ideas and concerns about leading their angel groups.

Registrationhttp://www.angelcapitalassociation.org/2014-leadership-workshop/registration/

3-day Leadership Workshop:  $325pp  (ACA Members Only)

Pre-Event Seminars / open to the public:  $90pp

Meeting Location:

The program will be held at Ohio State University Union.

Ohio Union, Ohio State University

1739 North High Street

Columbus, OH 43210

The ACA Leadership workshop is a member-only event with “pre event” seminars open to the general public. 

  • September 17, 1:00 pm – 4:00 pm:  The Angel Director’s Playbook seminar
  • September 17, 5:45 pm – 8:00 pm:  Ohio TechAngels Investor Meeting, Ohio Statehouse
  • September 18, 8:00 am – 11:45 am:  Angel Investing Strategy seminar
  • September 18, 8:00 am – 11:45 am:  Angel Resource Institute Seminar
  • September 18, Noon – 7:00 pm:  Leadership Workshop and Reception
  • September 19, 8:00 am – 3:30 pm:  Leadership Workshop

Special Reasons to Attend:

·         All attendees will receive a $100 discount for the 2015 ACA Summit (April 14-16) in San Diego, CA.

·         We will provide special tools and documents to dig more deeply into the session topics on thumb drives for all attendees.

Highlights from Our June Pitch Night

BWA’s June 12 Pitch Night was hosted and sponsored by Central Michigan University’s College of Business and its Isabella Bank Institute for Entrepreneurship on the Mt. Pleasant Campus.  We had 35+ in attendance with 5 companies presenting:

Elevate Net (Mt. Pleasant, MI) – Your Connection to the WORLD…a leading provider of internet to under-served communities.  Elevate Net is able to provide internet to customers at a better cost to speed ratio than competitors.  Elevate Net utilizes distributed connections to allow for less overhead cost.  Using this model, we are able to avoid single link failures that other providers are plagued by.

foodjunky (Detroit, MI) – www.foodjunky.com The easy way to order food!!!  foodjunky.com is a fast moving, high-spirited startup that centers around making hungry people happy.  We make the process of ordering food easy for individuals, groups and catering.  Our business is to deliver happiness to our customers and vendors. We do this through a business model that allows us to add every restaurant.

GoGarden (Mt. Pleasant, MI) A Winner of CMU’s 2014 New Venture Competition.  GoGarden is a Social Relationship Manager (SRM) that helps individuals and companies alike cultivate their network connections. As business professionals, our biggest asset can be our network; the people we know, their skills, experiences, connections, etc.  However, with the ever-growing number of social networking platforms and the connections we make on them, the ease of effectively managing and utilizing our most valuable asset has slipped away.  By aggregating information from professional networks, and applying productivity tools, GoGarden serves as a platform to ensure that the attributes of your network and work force is not lost in the shuffle.

Safe Niche Products (Ann Arbor, MI) – www.safenicheproducts.com Making the workplace safer for people and more comfortable for animals.  Janet Wolforth is the sole proprietor of Safe Niche Products. Janet is a Licensed Veterinary Technician (since 1985) and a Laboratory Animal Technologist (since 1997). Through her experience, she’s found the need for and subsequently invented instruments that make the workplace safer for people and more comfortable for animals.

Warmilu (Ann Arbor, MI) – www.warmilu.com Instant and safe heat on demand.  Warmilu is an advanced phase change materials therapeutic warming startup. Through Warmilu, baby boomers can use instant, reusable, and portable warmth to soothe the aches and pains of diabetes, arthritis, superficial thrombophlebitis, and other aches and pains that affect the pursuit of active lifestyles. We allow people to pursue their passions so we can pursue ours – spreading the warmth to reduce infant death from hypothermia. Together we can spread lasting warmth to transform lives.

Upcoming Events

July 23 (Wednesday):  MMIC Workshop, “Due Diligence” – BWA Members attend free!  Time: 9:00am-3:00pm.  Location: MMIC, Room 112, 2007 Austin, Midland, MI, 48642.  To register, visit, www.mmic.us.

July 31-August 1 (Thurs-Fri):  MMIC Workshop, “Patent Camp” – BWA Members attend free!  Time: 9:00am-3:00pm.  Location: MMIC, 2007 Austin, Midland, MI, 48642.  To register, visit: www.mmic.us.

August 12 (Tuesday):  MMIC Workshop, “Access to Capital” – BWA Members attend free!  Time: 9:00am-3:00pm.  Location: MMIC, Room 112, 2007 Austin, Midland, MI, 48642.  To register, visit, www.mmic.us.

September 16 (Tuesday):  MMIC’s “Innovators Spotlight”, held Monthly, Third Tuesday’s, 11:30-1:00pm.  Light lunch provided.  Free for MMIC members / Public, $10pp.  Location: MMIC, 2007 Austin, Midland, MI, 48642.  To register, call MMIC Receptionist at 989-839-2333 or visit, www.mmic.us.

September 17-19 (Wed-Fri):  ACA Leadership Workshop.  ACA member-only event / pre-event seminars open to the public.  Location: Ohio Union, Ohio State University, Columbus, Ohio.  Leadership Workshop $325pp / Pre-Event Seminars $90pp.  To register, visit:  http://www.angelcapitalassociation.org/2014-leadership-workshop/registration/

September 24 (Wednesday):  BWA Dinner Deal Review Meeting, 5:00-9:00pm, (Angel Overview, 4:00pm, precedes reception and dinner meeting).  Non-Members $40pp /  Location TBD.  To RSVP, contact Judy Morrison at 989-771-1007, or via email to jmorrison@ip3inc.com.

October 9 (Thursday):  BWA Pitch Night, 6:00-9:00pm, (Angel Overview, 4:30pm, precedes reception).  Hors d’oeuvres & Cash Bar.  Non-Members, $20pp / Location TBD.  To RSVP, contact Judy Morrison at 989-771-1007, or via email to jmorrison@ip3inc.com.

October 16 (Thursday):  BWA Screening Committee Meeting, 4:30-6:00pm.  Location: MMIC, 2007 Austin, Midland. To confirm attendance, contact Judy Morrison at 989-771-1007, or respond via email to jmorrison@ip3inc.com.

November 20 (Thursday):  BWA’s Annual Meeting, 5:00-9:00pm.  (Angel Overview, 4:00pm, precedes reception and dinner meeting).  Location TBD.  To RSVP, contact Judy Morrison at 989-771-1007, or via email to jmorrison@ip3inc.com.

December 9 (Tuesday):  BWA Dinner Deal Review Meeting, 5:00-9:00pm, (Angel Overview, 4:00pm, precedes reception and dinner meeting).  Non-Members $40pp / Location TBD.  To RSVP, contact Judy Morrison at 989-771-1007, or via email to jmorrison@ip3inc.com.

Scorecards, metrics & what makes a successful entrepreneurial ecosystem

Why don’t we tackle the really BIG issue facing the growth of our economy – government and taxes.

Contrary to most ratings and beliefs of what makes a state a good place for start-ups and entrepreneurs it is NOT low taxes and less government. The actual data, tells us that big government and high taxes must have some kind of value because some of the best states for start-ups have the highest taxes on personal and corporate taxes and the correlated big government. Click here to read more

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Karen Letain

kletain@bluewaterangels.com
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