I’m getting closer to pulling the trigger on www.CentralIowaAngels.com. I’ve been casually surveying and vetting the concept of an organized Angel network that provides:
- Frequent pitch meetings with qualified angel investors on a regular schedule.
- Angels that understand not every idea is worthy of funding…but recognizes ideas that don’t fit this group’s profile may have application elsewhere.
- Angels that understand the value in people even if their ideas are deemed unfundable. Perhaps someone pitching a tech idea as a CEO would be a perfect fit as a technologist somewhere else.
- Angels that bring connections and expertise to the table since this is typically the most important factor in the funding equation. Writing a check is easy. How to spend the money isn’t.
- Angels that understand and embrace the concept of risk capital not as guaranteed as humanly possible forcing the nascent firm to jump through myriad hoops to get governmental grants, incubation, and other string laden funding…capital.
- Angels looking to fund small prototyping/proof of concept deals ranging from $25k-$100k to quickly inject life into ideas here in Iowa that end up funded as $3.5 million deals in larger cities 12 months later, in addition to larger deals.
- Angels that understand that Iowa’s startup climate is tremendously under served. There are countless entrepreneurs toiling over solutions that are fundable and profitable business models waiting to emerge…if only…
Do you have more items you’d like to add to this list? Please either add them in comments or email me personally. If you’re interested in helping me put this together, please contact me via email at doug AT mitchgroup.com.
Also, please forward this onto perspective Angels and companies seeking funding if you don’t mind. I’d like the input.
**UPDATE**. Wow. The flood of interest and new twitter followers is amazing. This is further reinforcement that this idea is sound. More to come.