Company to raise $50,000 to finish prototype and for working capital
TIFFIN, OHIO – Tuesday, Oct 5, 2021 –Tiffin-Seneca Economic Partnership (TSEP) announced today that local entrepreneur Jamie Chester is seeking an additional investor or investor group for his developing business, Apex Target Systems LLC. Detailed information about this opportunity can be found on TSEP’s “Entrepreneurial Opportunity Clearinghouse” at tseoc.org. The opportunity will remain open until October 31, 2021.
Apex Target Systems has designed and developed a working prototype for a patented state-of-the-art shooting target system that is portable, electronically-integrated, and cost-effective, with no true competitor. Established in 2015 by Tiffin entrepreneur and veteran Jamie Chester, the company has successfully raised $500,000 to date, including $150,000 in its first capital raise as well as $50,000 in grant funds through Bowling Green State University. Of the $50,000 sought, half will go towards error-proofing the software, with the remainder to function as working capital. A demonstration to the military is scheduled for mid-November. The military, law enforcement, and shooting ranges are the top market segments.
Apex founder and owner Jamie Chester is excited about taking is his product to market: “I appreciate working with the Tiffin-Seneca Economic Partnership to identify and qualify potential investors. The funds will finish our software development and allow us to move forward.”
Apex’s quest for additional capital is the third opportunity through TSEP’s Tiffin-Seneca Entrepreneurial Opportunity Clearinghouse (TSEOC). The TSEOC platform, launched in April of 2021, is a platform designed to facilitate the flow of entrepreneurial talent and capital to new business start-up, franchise, and business acquisition opportunities. The first opportunity with Bird Scooters ended successfully with the company coming to Tiffin, and the second retail acquisition opportunity resulted in a signed letter of intent, with the sale scheduled to be completed by the end of this year.
Tiffin Mayor Aaron Montz was pleased with the announcement. “It’s really inspiring to see the development of an innovative new business happening right here in Tiffin,” he said. “This is a great opportunity for community members with capital to support a developing business.”
For this opportunity, a pitch event will be held on October 20, 2021 at 6:00 p.m. at the TSEP office (96 South Washington St, Suite A, Tiffin, Ohio) where Chester will showcase his product and answer questions for potential investors. Interested parties looking for additional information or who wish to RSVP for the event should contact TSEP Development Manager Audrey Flood by email at flood@tiffinseneca.org or by cell at 419.561.0244. Eligible and qualified investors can receive a current copy of the business plan in advance of the event once they sign a Non-Disclosure Agreement.
Bryce Riggs, Executive Director of the Seneca Regional Chamber of Commerce and Visitor Services and chair of TSEP’s Tiffin-Seneca Entrepreneurship Committee, was pleased to see this announcement. “This is exactly the type of opportunity that TSEP created this platform for. Apex Target Systems is a great example of the type of innovative entrepreneurship that is possible here in our community, and we look forward to connecting him with the capital he needs to bring his project over the finish line.”
About the Tiffin-Seneca Economic Partnership
Started in 1983 as the Seneca Industrial and Economic Development Corp. (SIEDC), the Tiffin-Seneca Economic Partnership is a private, non-profit corporation dedicated to driving positive economic, downtown, and community development in Tiffin and Seneca County, Ohio, which consistently ranks among the top communities nationally for economic development. Learn more about the great things going on in Tiffin and Seneca County at www.tiffinseneca.org.
