Péna: Arrival of Alamo Angels in Brownsville and the RGV is a momentous occasion

BROWNSVILLE, Texas – Cori Péna, president and CEO of Brownsville Community Improvement Corporation, says a new partnership her group has forged with San Antonio-based Alamo Angels will pay big dividends for the Rio Grande Valley.

“The arrival of Alamo Angels in Brownsville and the Rio Grande Valley is a momentous occasion that signifies a significant milestone in our collective efforts to support entrepreneurship and bring about positive change,” Péna said.

“As one of the economic development leaders in our community, the Brownsville Community Improvement Corporation is proud to endorse and support the expansion of the Alamo Angels chapter. We wholeheartedly believe that this partnership will bring several benefits to enhance the local entrepreneurship ecosystem.”

Péna then listed the benefits.

“So, the Alamo Angels Brownsville Chapter will enable innovation and growth in our community by providing startups and early-stage companies with access to critical funding and resources. This expansion will also attract and retain talented entrepreneurs fostering a vibrant environment for business development and job creation,” she said.

“Furthermore, Alamo Angels network and expertise will provide invaluable mentorship and guidance to our local entrepreneurs, helping them overcome challenges and scale their venture successfully.”

Péna made her comments at the official signing of a Memorandum of Understanding between city leaders and Alamo Angels. The signing took place at the eBridge Center for Business and Commercialization during RGV StartUp Week.

“This collaboration between BCIC and Alamo Angels will reinforce Brownsville’s position as the hub for entrepreneurship, driving economic development and long-term prosperity for the region. We are sincerely grateful and excited to be part of this initiative. And we believe that their decision to establish their first expansion chapter in Brownsville underscores the immense potential and opportunities within our thriving community,” Péna said.

Looking ahead, Péna said she is optimist about the impact Alamo Angels will have on the community.

“Together we can unlock the full potential of the South Texas region, propelling it to new heights of success and prosperity. So let us embrace this moment with enthusiasm and determination. Let us continue to collaborate, innovate and strive for excellence in everything that we do. And let’s build a future where entrepreneurship drives, and innovation flourishes and opportunities abound for all who call Brownsville in the Rio Grande Valley home.”

Mayor Cowen’s perspective

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Like Péna, Brownsville Mayor John Cowen, Jr., also signed the MOU. He said: “This is truly a momentous occasion for our city and for the entrepreneurial ecosystem of Brownsville and the Rio Grande Valley.”

Cowen pointed out that access to capital is the number one barrier for many entrepreneurs.

“The direct early investment focus of Alamo Angels combined with the resources and expertise provided at the eBridge Center creates a more direct pathway of success for early-stage companies in our community,” Cowen said.

“The Alamo Angels represent more than just a group of investors. They embody a spirit of support, mentorship and belief in the power of innovation. By expanding their reach at the eBridge Center they are not only invest investing in businesses but in the future prosperity of our community of Brownsville.”

Cowen said the eBridge Center has long been a hub for creativity and innovation, providing a space for entrepreneurs to collaborate, create and grow.

“With the partnership of Alamo Angels this hub will now become even more dynamic, offering not just physical resources, but also the invaluable support and guidance of experienced investors. This expansion chapter signifies a significant milestone in our journey towards becoming a thriving center of innovation and entrepreneurship. It is a testament to the hard work and dedication of everyone involved.”

Cowen added: “As mayor of Brownsville, I am proud to see our city becoming a destination for forward-thinking investors and entrepreneurs alike. Together we will continue to foster an environment where ideas flourish, businesses thrive and dreams are turned into reality. I extend my heartfelt congratulations to everyone involved in making this expansion a reality. Let us embrace this opportunity with open arms and work together to build a more prosperous future for all.”

About Alamo Angels

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Alamo Angels, formerly San Antonio Angel Network (SAAN), was founded in December 2016 to provide the community with educational resources, high-quality deal flow, accredited investor network, and growth of more early-stage companies to spur economic development. In July of 2020, Alamo Angels integrated into the Texas Research & Technology Foundation (TRTF) family of businesses. The direct early investment focus of Alamo Angels combined with the resources and expertise of TRTF creates a more direct pathway of success for early-stage companies. TRTF provides an expertise in their commitment for the last 35+ years of economic development. Alamo Angels is headquartered in the VelocityTX Innovation Center, a state-of-the-art center for entrepreneurs and expanding businesses. Alamo Angels maintains a professional staff and focuses on identifying high-quality deal flow while providing educational opportunities for its members.

Garzon’s perspective

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Juan “Sebastian” Garzon is executive director of Alamo Angels. He, too, signed the MOU.

Garzon said in order to build a strong ecosystem entrepreneurialism, “a lot of different moving parts” need to come into place.

“How do we curate all the different pieces in such a way that we truly build an ecosystem that will take this city and move it forward?” Garzon asked. He then explained what was needed.

“When we talk about the ecosystem, obviously we talk about players like universities, and we have UTRGV just down the road and they serve as a talent pipeline. Another important element of that is places where you as an entrepreneur, whether you have an idea, or already have a company that wants to take to the next level, that you have that type of support, and that’s what we have here at eBridge.

“The private partnerships are also important and just a few miles away we have SpaceX, where perhaps the most innovative initiative not just in the Rio Grande Valley, but in the whole US and potentially around the world is happening, just a few minutes away from here.

“And none of that would be possible of course without the public sector so the city of Brownsville and entities like BCIC providing support and truly identifying these opportunities and helping make those ideas or those plans become a reality, I think that’s when things start truly happening.”

The last “moving part” that is needed, Garzon said, is access to capital.

“And that is the reason for which we are all here today. That’s what we do at Alamo Angels and that’s now what Brownsville and the rest of the Rio Grande Valley is getting because of our presence in this place.”

Garzon said when an entrepreneur comes up with a new idea and that idea flourishes and then a company is formed, funding becomes important.

“At some point, you will eventually need to go and talk to other people and try to get the funding that it requires to take that and put it on that next level. That’s precisely what Alamo Angels is doing and that’s what we’ve been doing for the past six years in San Antonio, and now here in Brownsville,” Garzon said.

“So, we’re excited to bring that to this community and make sure that when you guys as entrepreneurs get to that point you will have a door to come and knock and ask, how do I get to a point and how do you help me achieve the goals that I have set for myself? So, I want you all to think of us as a resource.”

Garza concluded his remarks by thanking the team at BCIC and Linda Ufland Romo, director of the UT-Rio Grande Valley Entrepreneurship and Commercialization Center at the eBridge Center.

“Linda and the eBridge team have opened their doors to Alamo Angels and now we’re calling eBridge our home. We’re excited about having a physical presence in a place like this.”

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