The Hutchinson City Council this week voted unanimously in favor of becoming a member of the Minnesota Angel Network.
The network is a new organization aimed at linking investors with early stage companies.
Hutchinson is now one of five regional cities in the state that will help join the two entities and get new companies going.
Hutchinson Economic Development Authority Director Miles Seppelt will act as a “matchmaker” of sorts to link potential investors with the new companies and that the companies are fully prepared to meet with potential investors
Seppelt also says even though every company they work with won’t come to Hutchinson, it will be beneficial in that it will be part of a “marketing plan” for the city.
The cost of the membership is $50,000 for two years, which will be split evenly between the city of Hutchinson’s Fund Balance and EDA money.
Seppelt says if Hutchinson gets one company because of their membership, it will offset the membership cost.