Twenty percent of all new jobs in America come from business start-ups.
Entrepreneurs with potential for growth, called Gazelles, represent a significant part of those job creation numbers.
“Talented people within a community are a key to the growth of a local economy,” stated George Robertson, president of Kosciusko Economic Development Corporation. “And talented people abound in Kosciusko County.”
But KEDCO, the County's economic development office, realized that entrepreneurs need support to succeed.
KEDCO’s board established this year a small business and entrepreneurial committee, chaired by board member Craig Allebach.
They are working on small business and entrepreneurial training programs, mentors and technical assistance.
Critical to the growth of Gazelles, however, is angel investors. “Kosciusko County is fortunate to have leadership of people like Terry Schlotterback who brought angel investing to this county,” said Robertson.
Schlotterback, with a background in the orthopedic industry, announced recently the successful formation of a StepStone Business Partners Chapter in Kosciusko County.
“We are very excited about bringing this Angel investing opportunity to the community. Warsaw and Kosciusko County has historically been a hotbed of medical device innovation. Many great new ideas and inventions have greatly improved the treatment of orthopedic disorders and spawned the creation of new companies. Supporting these new ideas and companies is the focus of our Angel investment group,” Schlotterback stated.
StepStone established its first chapter, consisting of about 20 investors, in Indianapolis, about three years ago.
The membership-based group brings together wealthy investors willing to chip in at least $100,000 and help evaluate promising firms.
“The great thing we're going to be able to offer investors and entrepreneurs is visibility and access," said Oscar Moralez, managing partner and co-founder of StepStone. "The investors will have access to deal flow that comes from across the state in a structured way. The entrepreneurs will have the opportunity to have visibility to a number of angels that will not only bring capital to the table eventually, but also bring that value-added that the investor might be able to bring.”
StepStone Business Partners LLC's new chapter in Warsaw is its third after establishing a presence earlier this year at the Flagship Enterprise Center in Anderson. StepStone focuses on life science companies and Warsaw’s OrthoPediatrics is one of the companies that have already received angel capital.
Schlotterback noted that Stepstone is one more key piuece to a strong entrepreneurial infrastructure. “ We look forward to working with the Kosciusko Economic Development Co.”
