Northeastern Pennsylvania Alliance Launches StartUp NEPA

06.21.2022


The Northeastern Pennsylvania Alliance (NEPA) launched StartUp NEPA, an Angel Investment Fund, designed to support start-up and early-stage businesses within the region. NEPA, who has partnered with the Appalachian Investors Alliance (AIA), technical advisors assisting the Fund, has contributed the first $50,000 to the Fund. NEPA has raised over $700,000 from investors and economic development partners, with room for more investors. Investors can join the initiative by purchasing $50,000 units to become a member of the newly formed LLC and gain a vote on making future investments in businesses that have a strong prospect to create new jobs and positive economic growth. The Fund held its first organizational meeting on Tuesday, April 26th and also received a “pitch” from a local business. The Angel Fund will be led, designed, and funded predominately by local investors.

NEPA serves as the founder and host of the Fund. NEPA convenes the meetings, engages and vets prospective entrepreneurs, manages deal flow, and will oversee the business “pitch” portal. This portal will serve as a web-based intake process for reviewing and evaluating businesses seeking investments. NEPA has also agreed to make the first investment of $50,000 into the Fund. NEPA has united the economic and community development partners in the region to promote the initiative through a Memorandum of Understanding (MOU).

The NEPA Alliance, a regional community and economic development agency, serves the seven counties of Northeastern Pennsylvania including Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill and Wayne. NEPA Alliance services include Federal and State grant assistance, Business Financing, Government Contracting Assistance, International Trade Assistance, Nonprofit Assistance, Transportation Planning and Research and Information. For more information about NEPA Alliance visit www.nepa-alliance.org or call 866-758-1929. “NEPA is an equal opportunity provider and employer.”