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Oread Angel Investors Network Supports Kansas Startups

Entrepreneurs presenting at the Oread Angel Investors network pitch event in Lawrence, Kansas.

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News Summary

The Oread Angel Investors network has launched in Lawrence, Kansas, granting $570,000 to four local startups associated with the University of Kansas. This new initiative, which now includes around 70 active members, aims to foster innovation and entrepreneurship in the region. With successful pitch events highlighting promising startups like Icorium Engineering and Invary, the network provides vital financial backing while creating collaborative opportunities for entrepreneurs and investors. This support reflects a state commitment to bolstering local economies through innovative solutions.

Oread Angel Investors Network Lends a Helping Hand to Kansas Startups

Lawrence, Kansas, is buzzing with excitement after the successful launch of the Oread Angel Investors network, which has already made a significant impact by granting $570,000 to four local startups linked to the University of Kansas. This initiative is all about supporting budding entrepreneurs from the university and fostering an environment where innovation can thrive.

What’s This Network All About?

Launched just a few months ago in September, the Oread Angel Investors network has quickly grown to include about 70 active members who are eager to invest in promising startups. The network’s first pitch event took place on November 8 in Lawrence, where eager entrepreneurs showcased their amazing ideas, and it turned out to be quite the success.

Spotlight on Emerging Startups

Among the standout companies presented at the pitch event were Icorium Engineering and Invary, both of which have earned recognition as startups to watch in the upcoming years. Icorium Engineering is particularly noteworthy as it’s making headway in the challenging field of recycling complex refrigerant mixtures. This startup is on a mission to not only reduce waste but also cut down on greenhouse gas emissions, which is a hot topic these days.

The support from the Oread Angels is an incredible boost for these companies, giving them the financial backing they need to accelerate their growth. The hope is that this funding will lead to innovative solutions that can benefit both the environment and the economy.

Bringing Investors and Innovators Together

Adam Courtney, who is at the helm of KU Innovation Park, emphasized the importance of the collaboration cultivated through these events. The pitch night was an ideal platform for investors and Jayhawk entrepreneurs to connect and discuss future partnerships. This avenue of support is crucial as it allows startups to potentially secure much-needed capital and mentorship, paving the way for future innovations.

Chris Rehkamp, the head of business services at KU Innovation Park, added that alumni play an essential role in helping these startups flourish by providing both funds and insights based on their experiences. It’s all about creating a cycle of support and growth that facilitates entrepreneurship in the region.

Support to Grow and Expand

The Kansas Department of Commerce granted the funding to help nurture the Oread Angels network, highlighting the state’s commitment to boosting local economies through innovation. KU Innovation Park is already home to 74 companies, contributing to the employment of about 750 people, indicating a robust entrepreneurial ecosystem.

Future events are also on the horizon, with the next pitch gathering set for March 2025. This gives startups like Icorium Engineering time to further refine their ideas and prepare for more investment opportunities.

Icorium Engineering’s Ambitious Goals

Icorium Engineering has already made waves in the startup community, earning over $180,000 in prizes from competitions like the Rice Business Plan Competition, where it landed in fifth place. The team plans to transition from their pilot operations to a commercial demonstration plant by 2026, aiming to establish themselves as the largest refrigerant recycler in the world by 2028.

These plans denote an ambitious future for the company, and it appears they are well on their way to achieving their goals. The technology behind Icorium Engineering’s operations focuses on extractive distillation, a method that opens new doors for recycling complex refrigerant mixtures.

Kalin Baca and Abby Harders, two of the company’s bright minds, are also preparing to dive into their roles full-time after completing their respective educational programs. With plans for further growth and partnerships, the future looks promising for both Icorium Engineering and the other startups enjoying the support of the Oread Angel Investors network.

A Community of Innovation

In conclusion, the launch of the Oread Angel Investors network is a pivotal moment for Lawrence and the Kansas City startup scene. By bringing together investors and innovative minds, this initiative is not just about funding; it’s about crafting a supportive community where ideas can flourish, making it an exciting time for everyone involved. Keep an eye out for more success stories as these Kansas startups continue to grow and expand with the backing of the Oread Angels.