Business angels to boost investment in Athlone area

The Westmeath Business Angels Network is calling on local investors to join their new network to bring jobs to the Athlone area. Under the national umbrella group Halo Business Angels Network there are five angel networks already operating in the country, including one in Longford, which has succeeded in putting together a one million euro start up fund to invest in the Longford region. The Athlone network is the brainchild of former Westmeath Independent owner Martin Nally. Martin has already brought together seven angels and the group would very much welcome inquiries from other local investors who are seeking to invest in worthwhile businesses in this area Speaking about the project Martin said, "After reading about the Longford Network and its potential to bring inward investment to that area, I felt that Athlone needed a similar boost in terms of support for jobs creation and investment. That's what business angels is all about - creating jobs and helping great companies who need additional capital or expertise in order to grow. We are looking for business people who want to invest in the Athlone area specifically. Business angels aims to fill the gap between funding provided to companies by the local Enterprise Board and that provided to larger companies by the Irish Venture Capital Association". The first meeting of the Westmeath Business Angels Network will take place this Thursday (August 26th). If you are interested in becoming involved in the initiative, please contact Martin Nally on 086 3857170 or email gnallym@gmail.com for further information. Details on how entrepreneurs can submit projects to the business angels will be released in September.