Inspired by the successful television show “Shark Tank” but called Accelerate Wake Forest, a group of local investors have announced a new initiative designed to stimulate entrepreneurship and business growth in Wake Forest.
Area inventors and entrepreneurs will have an opportunity to pitch their business ideas to a panel of investors in front of an invited audience. If an idea appeals to one or more of the investors, they will offer financial backing in exchange for a percentage of the business. After the event, any further details and negotiations between the investor and the entrepreneur to complete the deal will be confidential.
“Accelerate Wake Forest has brought together a great group of investors. We are active in the community, want to encourage economic development, and see this as a way of giving back.” said Deborah Bordeaux, a member of the investors panel for the event.
Spearheaded by business owner Mike Johnson and Chamber of Commerce President Ann Welton, the program has been in development for several months. “Gathering a number of investors with the interest and the financial wherewithal to make investments was the first step,” Johnson said. “We have a great group in place and they’re excited and ready to hear from applicants.”
Accelerate Wake Forest is sponsored by the Wake Forest Area Chamber of Commerce and the Rotary Club of Wakefield/Wake Forest. It follows up on a Wake Forest Rotary Club-sponsored program, Launch Wake Forest, which provides training and mentorships to current and aspiring entrepreneurs. See the article in the Feb. 28 Gazette for more details.
The Investors will make deals at their discretion. No offer will be made to, or solicited from the audience.
Anyone interested in applying for Accelerate Wake Forest can email info@acceleratewakeforest.com for an application. Completed applications must be submitted by May 3, 2018. All applications will be reviewed by an Invitation Committee, and finalists will be invited to present their business plans in person at a special event hosted by Wake Forest Area Chamber of Commerce and the Rotary Club of Wakefield/Wake Forest at Wake Electric on May 24. For more information, contact Ann Welton via email at: ann@wakeforestchamber.org, or by phone at 919-556-1519.
