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Local startups compete for major investment boost

Posted at 11:35 PM, Apr 21, 2022
and last updated 2022-04-23 00:46:12-04

Cal Poly's Center for Innovation and Entrepreneurship hosted tech companies Thursday night in a pitch competition.

Six different tech driver startups competed in Angelcon 2022.

The event provides the startups an opportunity to win thousands of dollars in funding.

AcreCloud, an agricultural technology software company, was awarded $135,000 in equity investment as the winner of AngelCon 2022.

The runner-up, Novocuff, which is creating a device to prevent preterm labor, also received an investment totaling $70,000.

The event also acts as an opportunity for local investors to learn how to invest in startup companies.

Investors were trained since September in how to invest in early-stage startups.

"We train local investors to become interested in a more long-term fashion in startups locally," said Judy Mahan, Cal Poly CIU Economic Development Director. "It's a way for us to create access to capital for our startups, and the third reason is really it's a great opportunity to do a great showcase event so that the entire business community can see all the tech and innovation coming out of our region."

Forty startups in total applied for the program.