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Increased commercialization of technology coming out of institutions like the University of Alabama at Birmingham are a component of the state's new economic development plan.

The Angel Investor Management (AIM) Group announced today the formation of the Central Alabama Angel Network (CANN) to serve the capital needs of entrepreneurs and investors in a seven-county region.

"The Angel Investor Management Group is bringing together a single network of angel investor groups in Alabama. By banding together to share the expenses of operations, the economies of scale will work to benefit all," said AIM Group CEO Dick Reeves. "In this way we expect to increase the number and quality of investment opportunities available to investor members, and to speed up the process for entrepreneurs seeking capital for their companies. The result for Alabama will be increasing angel capital availability to early-stage companies throughout the state."

To read the full, original article click on this link: Statewide Network of Angel Investor Groups Announced in Alabama -- HUNTSVILLE, Ala., Feb. 6, 2012 /PRNewswire/ --