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Angel Fund to help startups as COVID-19 recovery continues By BOB CLARK BELMONT — A new funding source for startups has gone online as the region continues to recover from COVID-19 The Southern Tier NY Angel Fund I, LLC, a private investment fund organized by business leaders from across the counties of Allegany, Cattaraugus, and Chautauqua, aims to help support development by matching “angel” investors with startups in need of capital. “To date, there has been a lack of capital and mentorship opportunities available to entrepreneurs in this part of New York. We formed the Southern Tier NY Angel Fund I, LLC to provide capital and expertise to entrepreneurs who have an opportunity to grow their business and create good jobs in the region,” said Angel Fund Chairman Craig Clark, who also serves as executive director Allegany County Industrial Development Agency. “We feel The Southern Tier NY Angel Fund I, LLC is an important asset for entrepreneurs and a key resource to creating a vibrant entrepreneurial ecosystem in the
region,” said Executive Director of Southern Tier West Regional Planning and Development, Richard Zink. “Thank you to the Appalachian Regional Commission and all our angel investors that provided us with the resources to establish this fund.” The Fund will invest with a primary focus in Allegany, Cattaraugus and Chautauqua counties, and a secondary focus in Erie, Wyoming, Livingston, and Steuben counties. Not to be confused with a philanthropic fund, an angel fund is made up of individual investors — called angel investors or angels — who join together to invest collectively in early-stage, privately held businesses. The difference between angels and venture capitalists is that while both invest in businesses and take partial ownership, usually angels invest in seed, start-up, and early-stage businesses — while venture capitalists invest in laterstage businesses. These angels invest their own funds directly in a business at much smaller amounts, from $5,000 to $200,000, unlike venture capitalists who invest $2 million and up. If you are an ac-
credited investor or an entrepreneur interested in learning more about the Southern Tier NY Angel Fund I, LLC please visit the website at http://www.southerntierangelfund.org/ or contact Angel Fund Chair, Craig Clark, at clarkcr@alleganyco. com. WESTERN NEW YORK is in Phase 2 of four for business reopening. For business reopening questions and information, visit the New York Forward website at forward. ny.gov or the Allegany County website at www.alleganyco.com/ coronavirus/reopeningallegany-county. The Allegany County Board of Health on Monday announced no new cases of COVID-19 were reported, with the total sitting at 52. No new cases had been reported since June 2, when four were recorded. Officials reported that 47 of the cases have been resolved with recoveries, including one overnight. One COVID-19-related death was reported in late March. Four cases are active. To date, 704 county residents have been in quarantine or isolation, while 27 remain isolated. Six new isolations were reported.
WWII-era planes pass over Wellsville, Allegany County to salute medical, essential workers
A Douglas C-47 (left), named Whiskey-7, and a P-51 Mustang named Mad Max winged over Allegany County and Wellsville this past Saturday.
Two World War II-era planes from the National Warplane Museum in Geneseo flew over the Southern Tier this past Saturday morning to salute area medical personnel and essential workers serving during the coronavirus pandemic. The NWM’s Douglas C-47, named Whiskey-7, was accompanied by a P-51 Mustang named Mad Max, for Operation Thanks From Above, Southern Tier. A third small plane was also part of
Cuba • Wellsville Special Orders Call:
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the flight. After passing over the Olean area, the flight winged to Wellsville and Jones Memorial Hospital and passed over Andover on the way to Southern Tier points in Steuben County and farther east, touching down for fuel in Binghamton. The C-47 had its wings and fuselage painted with the iconic black and white stripes that the very same aircraft displayed on D-Day, the Invasion of
Europe, 76 years ago on June 6, 1944. A fleet of C-47s carried the men of the 82nd and 101st Airborne divisions (or towed their gliders) to deliver the paratroopers behind the Nazis’ coastal defenses at Normandy, France, the night before D-Day. P-51 fighter pilots flew countless sorties providing air cover for the invasion forces as well as to strafe German positions and columns behind the beaches.
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