A well-known Silicon Valley entrepreneur and investor is in Sioux Falls this week.
On Monday Paul Singh took a tour of the city with business and community leaders.
He's traveling to cities across the country to give advice to entrepreneurs, and he's making investments of his own.
"We can never make any guarantees, but statistically there's been always one company in every city we go to," Singh said.
Singh has invested in more than 1900 companies around the world. He plans to close on five more deals by Tuesday.
"For a city to be ready for investor money to come in, they typically need a code school--some place for adults to learn technology," Singh said.
Singh also says a city hoping to attract investors needs to have an angel investment group. The Falls Angel Investment group started last May in Sioux Falls.
"And they need to have a co-working space," Singh said.
The main co-working space in Sioux Falls, The Bakery, is closing its physical location this week. Another co-working space, Meso, closed last year. Though business may not be booming for those companies, Singh says co-working spaces are important for start-ups.
"People want a place to work that's not home and it's not Starbucks," Singh said.
Overall, Singh says he's impressed with Sioux Falls, which makes local entrepreneurs optimistic.
"Sioux Falls is definitely at that tipping point of where we're about ready to accelerate and do some great things with the tech companies and entrepreneurs we have in town," Code Bootcamp Founder Will Bushee said.
Singh will be attending a number of private and public events this week in Sioux Falls.
You can check out this schedule here.
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