EBAN Associated Northern Ireland event a huge success
What does Ohio and Northern Ireland have in common? On first thought, probably not a lot. However, according to John Huston, founder and manager of the Ohio Tech Angels Fund, there are a lot more similarities than you think. Often seen as a ‘flyover state’ and ‘a backwater’, Ohio has only 4% of the US population but has over 700 angels across 7 angel groups and this is all without the tax benefits that investors enjoy in Northern Ireland.
John and Michael McAllister from ASM were the principle speakers at the first Halo Corporate dinner in the Ulster Museum in Belfast. 150 people were in attendance to see John and Michael as well as three companies presenting on the night.
The event was designed to give people a gentle introduction to the concept of Angel investing and the fabulous tax reliefs that are available for investors via the government’s Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS). The event was a great success with many of the major Professional Service companies in attendance with their clients.
Former Boston banker and ex-US fighter pilot John Huston is founder and manager of the Ohio Tech Angel Fund group of angels, which he launched in 2004 to focus on Ohio-based technology start-ups. It now has 340 members and is one of the largest angel groups in North America, providing early-start capital for hundreds of fledgling firms, which typically sprout wings, enjoy a stellar growth spurt and then exit after three-to-five years, selling up for between $20m and $40m.
Mr Huston said:
“The concept of group angel investing is still relatively new to Northern Ireland but there is tremendous potential for those with a bit of wealth to take their liquidity and invest in a start-up. That way they are giving something back, and they are also providing a lifeline to a new business which could go on to flourish and make a significant contribution to the Northern Ireland economy.”
This article originally featured on the HALO NI website and can be viewed here.