Five northern Arizona companies are preparing for an important meeting June 17th. They were selected from more than a dozen applicants for some face time with the Northern Arizona Angels. That group introduces early stage technology companies to potential investors.

Rick Gibson is acting director of the Northern Arizona Angels and serves on the board of directors for NACET, the Northern Arizona Center for Emerging Technologies. Gibson is a Tucson resident who’s spent 34 years investing in promising new companies.

“The idea is to provide good investment opportunities centered around Northern Arizona-- meaning Flagstaff, Sedona Prescott--but also as a vehicle for investors in Phoenix or Tucson,” said Gibson. The Northern Arizona Angels group is not an investment fund, but individuals can form a separate entity to invest in a company.

Jason Baer is a social media consultant who also serves on the NACET Board of Directors. He says many people are unaware of the substantial number of innovative new companies in the greater Flagstaff area.

“The Angels Group shines the light on start-up companies that have the opportunity to drive significant economic development for the region,” said Baer. Some of the companies affiliated with NACET are hiring up to 8 people at a time, reflecting a growth not seen in other sectors, he added.

Everett Hale agrees. The CEO of SenesTech, a Flagstaff-based biotechnology company, says the Northern Arizona Angels benefit the economy by investing in local businesses and helping them to prosper. Hale’s company will be one of the presenters at the June 17th meeting of the Northern Arizona Angels. SenesTech has created a product called ContraPest, which is expected to increase world rice production by non-surgically sterilizing the Southeast Asian Rice Rat.

SenesTech is just one example of the types of businesses highlighted by the Northern Arizona Angels. The technology category is broad, says Gibson. While the region has many groups working in biosciences and medical diagnostics, others are creating information technology products and software solutions for major corporations. Gibson says Flagstaff is also known for developing green technologies to make the world a better place.

And early stage technology companies are getting financed, despite the current economic downturn.

“Companies that are doing things that really matter and are impressive and highly competitive and doing something amazing in their category, are getting funded,” says Gibson. “I’m in my late 50s and if I look back over the past 30 years where I’ve been building companies or funding companies, about half the time it’s challenging times,” he added. Gibson says the deals that are being done are tighter and companies are getting smarter with how they spend their money. He says when the Northern Arizona Angels Group financially supports a start-up, the idea is to get them on their way so they can build their business and prove themselves.