HCAR Tenant to Present before Large Group of Angels at Venture Fair in Philadelphia
For Immediate Release
HERSHEY, PA – April 7, 2009 –The Hershey Center for Applied Research (HCAR) announced today that its tenant, Better Bowls, will present to a group of over 100 angel investors at the Angel Venture Fair at the Union League in Philadelphia. More than 30 companies will be presenting and exhibiting and were selected from over 125 applications.
The Angel Venture Fair, founded by the Private Investors Forum (PIF), is open to angel investors and other accredited investors, entrepreneurs, investment bankers, affiliated attorneys and accountants who are directly involved in early stage investment activities. According to PIF, more than $16 million has been raised for AVF companies since 2004 including $5 million raised in 2008.
HCAR tenant Better Bowls, a company launched by local food innovation expert Malathy Nair, PhD, is focused on introducing great-tasting food products that use natural ingredients, healthier formulations and convenient packaging to help consumers prevent or manage health issues including obesity, diabetes and high blood pressure. Industry statistics indicate that approximately half of all shoppers have someone at home suffering from or at risk of high blood pressure (48%), high cholesterol (43%) or Diabetes (29%).
“The Angel Venture Fair represents an excellent opportunity for Better Bowls to highlight the great research and commercialization activities happening in Central Pennsylvania,” said Laura Butcher, Executive Director of HCAR. “We’re pleased the one of our Technology Suites tenants has earned the opportunity to pitch to such a vast array of potential investors.”
According to a UNH Center for Venture Research Report, despite a 26.2 percent drop in angel investments from 2007 to 2008, angels have maintained their position as the largest source of seed and start-up capital, with 45 percent of 2008 angel investments in the seed and start-up stage. The report also highlighted how the number of active angels who helped fund companies last year increased from 258,200 in 2007 to 260,500.
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