There really are angels living in the Hudson Valley, according to calculations by the Hudson Valley Venture Hub (HVVH) at SUNY New Paltz. They’re the kind of angels who invest in businesses. The HVVH recently launched the HV Angel Hub, an angel investor education program.
“HV Angel Hub educates current and prospective angel investors in the mechanics and strategies of angel investing, while connecting them to entrepreneurs and other investors,” according to Kristin Backhaus, dean of the School of Business at SUNY New Paltz. “Programs that educate prospective angel investors are rare but essential to support and sustain the startup ecosystem. Access to capital for entrepreneurs is a chronic problem and frequently results in startups failing. We want to help Hudson Valley startups by increasing the pool of potential investors.”
Eliza Edge, director of the Venture Hub, told the Business Journals, “The Hudson Valley Venture Hub started HV Angel Hub in 2023 with the theory that if we provided angel investment education as well as a network we could start to unlock some of the wealth that we all know is here. We did the calculations that Michael Shuman provides in (the book) ‘The Local Economy Solution.’ We estimate that taking just 1% of our 2.3 million Hudson Valley population means that there are approximately 23,000 potential angel investors in our region.”
Edge said that for many people being involved in a startup or small business is exciting and very rewarding.
“Being an angel investor allows folks with a day job to be involved in growing a startup that aligns with their values, without all of the sweat equity,” Edge said. “With HV Angel Hub, we”™re looking to empower and inspire people looking for investment opportunities that align with their values.”
The program’s sessions cover subjects such as: investing strategies and processes for angels; investor risks and returns; the entrepreneur’s perspective; upstate New York entrepreneur and investor ecosystems; and alternative investment models. More program details are on the SUNY New Paltz website.
