Angel investors program, BRAIN to become independent corporation founded by AdvantageWest Economic Development Group
Date Posted: 2/14/2007
Fletcher, NC - CEO of AdvantageWest Economic Development Group, Dale Carroll announced today that one of the regional EDC’s pilot programs for entrepreneurs, Blue Ridge Angel Investors Network (BRAIN) will become an independent corporation and launch a new website, www.brainnc.com thanks to support from the Appalachian Regional Commission. During the transition, AdvantageWest Economic Development Group is contracting with consultant Meridith Elliott-Powell as Executive Director of BRAIN, and former AdvantageWest Board Director David Reeves, will become Chairman of the new BRAIN Corporation. Mr. Reeves served as board champion for both the BREC and BRAIN programs at AdvantageWest. Elliott-Powell, Reeves, local business leaders and legal advisors are further developing the separate BRAIN entity.
Carroll commented, “Thanks to support from the Appalachian Regional Commission (ARC) and volunteers like David Reeves the Blue Ridge Angel Investors Network pilot project is responsible for $10 million in angel/venture capital investment in WNC. Not only will this tradition continue, we hope that as an independent corporation, BRAIN can build on its previous accomplishments. We are so fortunate Mr. Reeves, a proven business leader will continue with the BRAIN initiative and excited Mrs. Elliott-Powell will apply her extensive experience in the capital markets and profit consulting to BRAIN and its participants.” The BRAIN Corporation will hold its first meeting of 2007 in March; members will discuss the organization’s transition, as well as view several business plans of promising entrepreneurs. Further details are available at www.brainnc.com.
AdvantageWest Economic Development Group is a regional organization serving the 23 westernmost counties of North Carolina. Programs of AdvantageWest include the Blue Ridge Industrial Council, Blue Ridge Food Ventures LLC, Blue Ridge Entrepreneurial Council, the WNC Film Commission and MountainSouth USA. Strategic partners of AdvantageWest include the NC Department of Commerce, the Blue Ridge Angel Investors Network and the Blue Ridge National Heritage Area.
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"As a life-long resident of western North Carolina I can’t imagine a more beautiful or diverse place to live and work."
D. Samuel Neill
Attorney-At-Law & AdvantageWest Board Member
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