Does anyone in the tri-state area know any Angel Investors?

The SBA has a list of angels and their interests...also a good resource.

 

Have you tried the Tri-State Private Investors Network, based in New York City?

Start on the website at www.angelinvestorfunding.com and click on the Sign-In for Entrepreneurs link.

You submit a business plan package and, if your proposal makes it to the next stage, you get a call for personal meetings.

Their profile is for entrepreneurs seeking first round capital of $500K to $1.5MM and screening is conducted by an Investor Screening Committee.

I have never used the Tri-State PIN but I attended a VC seminar in NYC last week in which Ellen Sandles, the Executive Director, was one of the speakers.

Good luck!

 

Not trying to be harsh here, but if you are not willing to invest $365 in yourself how do you expect an angel investor to invest $500K or more in you? I realize that it is not a guaranteed outcome but the amount is not anywhere near the cost of one marketing trip to visit investors in another city if you are looking for funds.

Angels will tell you that you should have some skin in the game, real money, not just your sweat equity, and have raised as much as possible from Friends and Family before approaching the angel investor set. As a 20 year old, do you have access to friends or family who can front you with $5K, $10K or whatever seems realistic to get you through your fund raising on this deal? Are you looking for seed capital or start-up capital? Angels prefer a start-up that can reasonably be expected to get them out in 3-5 years from organic cash flows, not future raises. Future raises may be a part of the plan to achieve your growth objectives but the angels want to see cash flows as a result of their investment, which typically will be in some form or preferred debt, convertible debt or something higher in priority than pure equity, but with an equity return component.

Angels are investing in the jockey more than the horse, and so you need to show your commitment, enthusiasm, confidence in your concept and willingness to put your own funds at risk. Many business plans look alike on paper and often it is the individual that convinces the investor to write the check.

Also, you have not discussed the stage of your business plan, but be prepared to have a "Proof of Concept" that demonstrates that you have some actual sales or at least real buyer interest in your product. You need to show scaleability and understand whether you are introducing a new technology or productivity (faster, better, cheaper) concept or pursuing a strategy of better execution of an existing concept (e.g. a drive through health food store that provides healthy meals at the speed of fast food).

Good luck with your efforts!

 

You haven't given us anything to pique our interest or to get excited about. And you ignored Ashman's ideas/suggestions.

No offense, but I'm not impressed.

 

LOL you got some solid piece of advice up there from Ashman.

 

Also while we are at it I have a couple of ideas as well, need 5MM. Any takers?

 

As a 23 year old entrepreneur in Connecticut scouring the funding landscape with a early-prototype SaaS looking to change the translation industry as we know it -> I feel your pain when looking for funding.

I took over a year of my life to research the markets, build a team, connect with partners and learn about the funding process.

I quit my job in January 2009, and worked odd jobs for the past 15 months to allow myself the time needed to build a business properly. (No I've never done this before, but I used all of my resources possible - and then some!)

If you're really serious about funding, I'd recommend getting in touch with a college advisor in a business department to review your material first. They can help you get on the right track.

If that doesn't work, find some companies in your field that are local and get to know the CEO's. I've had the best advice to date from a serial-entrepreneur who knows how to build companies like most of these owners on here know how to wax their Ferrari's!

I haven't found all of my investors yet for my SEED round, but the tips I've shared will ensure that I do find them and close a deal within the next 4-8 weeks.

Building my business to change the world and save millions of lives is first, owning my dream car (Ferrari 458 Italia) will certainly follow...

GOOD LUCK!!! Just remember - listen, learn and practice the rules of success that have lead others to prosperity, but don't let anyone ever saying NO kill your dreams.