Thrive Capital Partners is closing down on Peoria’s South Side after a brief opening earlier this year. The group aimed to help people at all levels of the start-up business spectrum set-up shop in the former Blaine-Sumner building. The operation came-in $50,000 under its crowd-funding goal last month. Founder Tim Kreuger says the lack of financial investment was important in deciding to close:
“But more important is the membership of people wanting to be involved on a day-to-day basis and that’s where the biggest concern came from because that is the future of that HUB and that social entrepreneurship is people involvement on a daily basis,” Krueger says.
Kreuger says fewer than 10 people signed up as formal members of Thrive Capital. Peoria County spent $60,000 in federal grant money for a feasibility study of Thrive Capital. Officials say the study could support future efforts to launch a start-up incubator in the area.