Saranac Lake, NY – Point Positive, Inc., the angel investment organization of the Greater Adirondacks, has reached the $5 million milestone in its effort to leverage private investment to achieve economic impacts through entrepreneurship in the Greater Adirondacks. Launched in 2014, the organization has vetted over 100 ventures and financed 13 companies, none of which are directly based on tourism, providing a stronger diversified economy in the Adirondacks. By this summer, Point Positive estimates that the investments have triggered millions in additional capital and more than 145+ new professional jobs to date, and 40 to 50 jobs in the coming year.

“The entrepreneurial ecosystem in the region has grown significantly over the last 5-10 years,” states Melinda Little, Point Positive Coordinator. “Whereas the approach of economic development organizations had been focused on attracting big existing businesses into the region, it’s now focused on entrepreneurs and the resources they need to succeed.”

Point Positive provides aspiring professionals the support they need to start or accelerate their businesses and create jobs that also help regional communities to thrive. The organization accomplishes this through mentoring and education, raising awareness about economic vitality and business opportunities, and assembling angel investors who can provide start-up and growth funding.

Point Positive investors are part of a select group of seasoned business leaders with expertise, networks, and capital to support and seed or sow promising Adirondack businesses from start-up through growth with shared due diligence and smart investing. Investments committed to entrepreneurs brought to them through Point Positive are assessed a modest percentage to support Point Positive‘s overall operations. In addition, potential investors are charged an annual membership fee that allows them to participate in Point Positive‘s research, due diligence, and semi-annual pitch sessions.

“The Adirondack region is a wonderful place to visit, but we also want it to be a place to have a successful business and live full-time,” stated Adele Connors, Co-Founder and investor. “To see the growth in our investor base with a similar passion and the number of companies that have emerged shows that sustaining our communities through diversification of our economy is possible.”

Point Positive meets with vetted entrepreneurs for pitch sessions twice a year. Similar to a Shark Tank, decisions to invest or not are up to each individual member, and the time commitment is tailored to preference – members can lead, mentor, advise, or just monitor and invest in fully vetted, promising ventures across multiple industry sectors.

“One of the key things that angel investors have to offer besides cash is their experience and their contacts which are often invaluable for a start-up,” stated Lee Keet, Co-Founder and investor. “The founders of most of the companies in which we’ve invested appreciate what our investors have to offer and will listen to the advice they receive.”

Point Positive investments include Small Town Cultures, Birch Boys Chaga, Ducted Wind Turbines, Confluent Energies, Black River Valley Natural, Crua Outdoors, REMWell LLC, ADK Packworks, and others. These start-ups include two women-owned businesses, and the industries point to a knowledge-based economy, with clean energy, technology, and food being the leading industries for Point Positive investors.

Partnerships with regional colleges and universities such as Clarkson, North Country Community College, Paul Smith’s, and SUNY Plattsburgh, as well as economic development organizations, other angel investment groups, and venture capital funds, further the effort through networking, relationships, and a collaborative approach. The economic effects of the COVID-19 pandemic brought a spotlight on our region’s dependence on tourism. Point Positive supports a collaborative approach to inspiring a culture of entrepreneurship. Collectively, the goal is to enhance communities and develop an increasingly self-sustaining region, retaining graduates and future generations in the Adirondacks.

“With this milestone and the growing opportunities through our partners, we are demonstrating the momentum of entrepreneurs and the commitment of the investors who want to advance the investment landscape in a place they care deeply about,” stated Little. “Our founders understood the opportunity early, we look forward to reaching new milestones in the years to come.”

For more information on how to become a member investor: visit: https://www.pointpositiveadk.com/member-investors

For entrepreneurs interested in seeking outside investment, visit: https://www.pointpositiveadk.com/entrepreneurs

For more information on the companies that have received funding, visit: https://www.pointpositiveadk.com/our-portfolio

For general information, visit www.pointpositiveadk.com

Photo at top courtesy of Point Positive, Inc.