UAA to help advise Municipality of Anchorage's 49th State Angel Fund

Mayor Sullivan announced last month the opening of the first application period of Anchorage's 49th State Angel Fund (49SAF) effective through Aug. 5. The fund was created after the Municipality of Anchorage was awarded a federal allocation of $13.2 million from the State Small Business Credit Initiative. The 49SAF will provide investments to early-stage high-growth businesses showing significant economic potential either through direct investments in Anchorage-based businesses or by taking a partnership interest in locally focused angel or venture capital funds.

UAA Chancellor Tom Case is on the 49SAF Advisory Committee, a group made up of members of the business, finance and economic development community for investment recommendations.

The Municipality and the Anchorage Economic Development Corporation held an Anchorage Angel Fund Forum last month and have recently posted videos of the proceedings on their website, including a preview of the University of Alaska's Seed Fund that aims to help commercialize technology based on faculty and student research, presented by Dr. Helena Wisniewski, vice provost for research and dean of the graduate school.

For full details on how to apply to the 49th State Angel Fund, visit www.49saf.com.