CRAN board chair Kevin Combs speaks at the organization’s annual meeting in the Bavarian Inn on Wednesday. Photo by Tabitha Johnston

SHEPHERDSTOWN — The Country Roads Angel Network (CRAN) held its annual meeting for the first time in the Eastern Panhandle, at the Bavarian Inn, on Wednesday.

The organization, which was established in 2019, is the first accredited angel investment network in the state. Its purpose, according to cofounder and board chair Kevin Combs, is to help entrepreneurs who could benefit from mentoring and early-stage investments in their businesses.

“We founded CRAN on this idea that we would be able to benefit West Virginia on so many levels, by supporting the work of its entrepreneurs and encouraging business development in the state,” Combs said. “As West Virginians, we are very proud people and we want to make our own way. What we are doing, is helping many people do just that.”

Over the past year, CRAN has invested $202,500 in three startups in higher education, technology and medicine. $70,000 was invested into Brite, a Morgantown-based startup geared to helping colleges and universities reduce student attrition by better understanding student needs, using new methods of engagement via an app that rewards students for sharing real-time feedback. $52,500 was invested into Growmentum, a Morgantown-based technology company which has created a software platform that empowers commercial growers in the horticultural space to streamline operations, reduce labor costs and enhance efficiency. $80,000 has been invested into Advanced Optronics, a medical sensor tech startup, developing medical instruments that sense their own shape during complex surgeries, with an initial focus on cochlear implantation to address hearing loss.

According to Combs, CRAN has awarded nearly $1.5 million in funds to 11 developing enterprises in the state, over the last five years. These startups have been focused on a variety of business opportunities related to everything from sustainability to food, from technology to the arts. The organization’s funds have been matched by additional dollars, totaling more than $15 million.

“As Kevin was talking, I was reminded of the 1960s sermon by John Winthrop, ‘We shall be as a city on a hill.’ I think about West Virginia, and how we are rising to be that city upon a hill,” said CRAN president Frank Vitale. “We have 1.8 million people in this state, and so many are looking to this group of leaders, who are driving and developing the economy. West Virginians are looking to us to be the shining the city for them.”

He noted that CRAN currently has 40 members across the state.

“It’s a great time to be with CRAN,” Vitale said. “It’s an exciting time for us, now that we have experienced some institutional growth. We cannot meet our mission — to raise investment in West Virginia — without our investors. West Virginia, quite frankly, needs the help.”

Similar organizations to CRAN are scattered across the U.S. The organizations are members of the Angel Capital Association. This professional association for active, accredited investors provides access to trending ideas and professional knowledge, to help improve returns and promote effective public policies for investors and start-ups.

Entrepreneurs can learn more about the investment opportunities CRAN presents, by visiting the organization’s website, www.wvcran.com.