Entrepreneurs in the Rushmore Region have a new resource to help them take their concept from dream to reality. The Rapid City Economic Development Partnership, in conjunction with the South Dakota Enterprise Institute (EI) and its regional economic development allies, is launching Black Hills Regional Angel Fund, LLC which will provide financial resources for local startup companies that exhibit potential for growth and high economic impact.
“This angel fund will allow us to provide local entrepreneurs with startup capital so they can secure additional funding resources to get off the ground,” said Benjamin Snow, President of the Rapid City Economic Development Partnership. “We’ve operated our grant and loan program with much success and this gives us another important economic development tool to encourage the growth of small businesses.”
Black Hills Regional Angel Fund, LLC is completely funded with local money from accredited private investors in the Black Hills and will be used for companies wanting to start in Rapid City and the surrounding Rushmore Region.
The South Dakota Enterprise Institute, a South Dakota non-profit entrepreneur development company, organized the fund and will help administer it.
Click here to learn more about the fund.
Click here for a link to the press release.