SARANAC LAKE, NY (March 26, 2024) - Point Positive, Inc., the angel investment organization of the Greater Adirondacks, receives the 2024 Lipinski Rural Initiatives Award from Farm Credit East in recognition of its innovative and transformational efforts to revitalize rural communities in the Northeast.
"Thank you to Farm Credit East for recognizing organizations like ours and providing the support needed for aspiring entrepreneurs to start or accelerate their businesses and create jobs that also help regional communities to thrive," stated Adele Connors, Co-Founder and investor, Point Positive. "We are honored to receive this award."
The award was created by Farm Credit East's Board of Directors in 2020 to recognize former Farm Credit East CEO Bill Lipinski and aims to recognize innovative and transformational efforts to revitalize Northeast rural communities.
"There is a significant need for investment in rural areas," said Tom Cosgrove, Farm Credit East Executive Vice President. "Point Positive is not only providing capital to drive economic growth, but the coaching and mentoring it provides will help position these businesses for long-term success."
In 2023, Point Positive reached the $5 million milestone in its effort to leverage private investment to achieve economic impacts through entrepreneurship in the Greater Adirondacks. Launched in 2014, the organization has vetted over 100 ventures and financed 13 companies, none of which are directly based on tourism, providing a stronger diversified economy in the Adirondacks. Point Positive estimates that the investments have triggered millions in additional capital and more than 145+ new professional jobs to date, and 40 to 50 jobs in the coming year.
"The entrepreneurial ecosystem in the region has grown significantly over the last 5-10 years," states Melinda Little, Point Positive Coordinator. "This award is testament to the commitment of our member investors and their private capital working in tandem with loans, education, outreach, and mentoring to move rural economies forward."
The $25,000 award is made possible by contributions from Farm Credit East matched by its strategic partner, CoBank, and will be utilized for additional outreach, education and mentoring.
More about the Lipinski Rural Initiative Award
Former Farm Credit East CEO Bill Lipinski was an advocate for Northeast rural communities. During his tenure, he witnessed the economic success of some rural areas while others faced hardships, including real or perceived lack of job opportunities/loss of key employers, declining populations/demographics, etc. Lipinski understood that the long-term success of Farm Credit customers depends on not only the vitality of their individual business, but also on the health of the rural communities where they are based, and he knew Farm Credit East could do more to combat this disparity among rural communities. That is why the Farm Credit East Board of Directors established the Lipinski Rural Initiatives Award upon his retirement – to grow the organization's support of rural communities in his honor. More information: FarmCreditEast.com/Rural
More About Point Positive Investments and Partnerships
Point Positive investments include Small Town Cultures, Birch Boys Chaga, Ducted Wind Turbines, Confluent Energies, Black River Valley Natural, Crua Outdoors, REMWell LLC, ADK Packworks, and others. These start-ups include two women-owned businesses and the industries point to a knowledge-based economy with clean energy, technology, and food being the leading industries for Point Positive investors.
Partnerships with regional colleges and universities such as Clarkson, NCCC, Paul Smith's, and SUNY Plattsburgh, as well as economic development organizations, other angel investment groups, and venture capital funds, further the effort through networking, relationships and a collaborative approach to create jobs and build sustainable businesses to retain graduates and future generations in the Adirondacks.
For more information on how to become a member investor: visit: https://www.pointpositiveadk.com/member-investors
For entrepreneurs interested in seeking outside investment visit: https://www.pointpositiveadk.com/entrepreneurs
For general information, visit www.pointpositiveadk.com
