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Fifth Annual AngelCon Pitch Competition Awards Startups a Total of $205,000 in Equity Investment

Investors award AgTech startup AcreCloud and MedTech startup Novocuff $205,000 in equity-backed funding while TRIC Robotics wins $1350 for the Audience Choice Award at the AngelCon 2022 event.

SAN LUIS OBISPO, CA (April 22, 2022) - The Cal Poly Center for Innovation and Entrepreneurship (CIE) Small Business Development Center (SBDC) is proud to announce the results of its 5th annual AngelCon pitch competition on April 21, 2022. The fund raised a total of $205,000 and chose to invest in two startups. AcreCloud was awarded 135,000 in equity investment as the winner of AngelCon 2022. The runner up, Novocuff, also received an investment totaling 70,000.

AngelCon is a culminating event that brings together Central California tech-based startups who receive training and mentorship through the SBDC and dedicated angel investors who participate in the evaluation, due diligence, and selection process of AngelCon applicants leading up to the live event. Participating startups are seeking investment in exchange for ownership equity or convertible debt to help grow their businesses.

AcreCloud and Novocuff competed among six startups to an audience of 28 investors and nearly 200 attendees. Jim Cogan, COO of AcreCloud, and his team are an agricultural technology software company working to revolutionize the field of farm labor payroll. Novocuff, with CEO Amy Degenkolb, is creating a device to prevent preterm labor and advance the field of maternal health.

Also at AngelCon, TRIC Robotics, an AgTech company helping farmers control pests and diseases with light instead of chemicals, landed the Audience Choice Award funded by a crowdfunding campaign that generated $1350 in prize money for the startup.

“After two years of AngelCon being a virtual event, we were so thankful to have the companies, the investors and the business community available to finally attend in person,” remarks Judy Mahan, CIE Economic Development Director. “The combination of Medtech and Agtech winning the event truly speaks to the innovation that our business community is fostering here in Central California.”
 
AngelCon 2022 was presented by Pacific Premier Bank. A recording of the live-streamed event is now available at bit.ly/angelcon2022-youtube.

About the Cal Poly CIE Small Business Development Center
The Cal Poly Center for Innovation and Entrepreneurship (CIE) Small Business Development Center is funded in part through a subcontract between Cal Poly CIE, the city of San Luis Obispo and UC Merced, under the current cooperative agreement with the U.S. Small Business Administration. The SBDC is a top resource for business owners and aspiring entrepreneurs, offering no-cost, expert one-on-one business consulting, training and online courses in startup assistance, debt and equity funding, sales and marketing, international trade and product commercialization.

For more information, visit http://sbdc.calpoly.edu/.