Business Students from UAF Join Alaska Angel Investor Conference
June 1, 2023
Over the course of the last 12 weeks Alaska Center ICE and the UAF College of Business and Security Management (CBSM) Student Investment Fund (SIF) sent three students to the 2023 Alaska Angel Conference (AAC). The Alaska Angel Conference is a 12-week process of identifying, filtering, selecting, and managing a group angel investment. An angel investor is a private investor focused on financing small business ventures in exchange for equity. This year’s Alaska Angel Conference took 21 of Alaska’s best start-ups and 17 angel investors through the nuanced process of angel investing.
This year conference participants invested $100K in one start-up.
Joining the ranks of the angel investors were students Dave Sauter, Manuel Beza, and Zach Norum. These students were quick to get going within AAC due to their financial skillsets, learned from working within the CBSM SIF. As voting angel investors, the CBSM team analyzed the 21 start-ups and directly contributed to the vigorous due diligence of the final four companies selected (Elevated Oats, Get-By, Prismatext, and That Compliance Lady).
Prismatext ultimately took home the $100K equity investment. Prismatext makes learning a language as easy as reading a book. They blend the most useful foreign words and phrases into your favorite novels and stories (website).
Prismatext is no stranger to UAF innovation programming. They’re long-time participants in Center ICE programming and are currently in talks with multiple university departments to test their product in educational settings. Through the Center ICE office, they’ve completed the UAF I-Corps program, signed up for Students2Start-Ups Program, and are currently working with the Alaska FAST program to acquire additional non-dilutive funding (funding that does not require the recipient to give up equity in their company). Congratulations to Zak and Phil (the founders of Prismatext)! The staff at Center ICE wish them the best on their journeys forward.
Curious about how Alaska Center ICE can help you develop your idea or business? Check out our website and get in touch!