Angel investors help Utah entrepreneurs

Posted at 10:53 PM, Jun 17, 2013

LEHI, Utah – Ten Utah companies were chosen to be part of an investment opportunity from Utah Angels II, and they were given a shot at a $10,000 investment.

Utah Angels II tries to bring entrepreneurial growth companies and investors together to help grow Utah’s economy, and on Monday night it held a launch party at the Adobe building in Lehi for high-tech startup companies and investors.

Skull Candy is one of the many companies that have grown since receiving angel investment money. The company’s founder, Rick Alden, spoke about the value of investing in entrepreneurs.

"These kinds of groups are just invaluable for young entrepreneurs and great startup opportunities,” he said. “This is the life blood of theses startups to be able to go out and prove concept."

The $10,000 investment went to a company called Vinny. The marketing manager for the company said they make a free application that scans VIN numbers on vehicles and tells the user the wholesale price of the car based on an average transaction value. The company said they will use the money to develop an app for Android. For more information about the company, visit their blog.