Attention Entrepreneurs: Local Angel Network Looking to Invest in You
If you’ve ever dreamed of pitching your business idea on the hit ABC series Shark Tank, now’s your chance. Northeastern Pennsylvania Alliance (NEPA Alliance) has gathered a group of angel investors motivated to financially assist seed, start-up and early-stage businesses within NEPA. If you have an innovative business idea or product invention that’s going to disrupt the marketplace – in a good way – the angels want to meet you.
NEPA Alliance, in partnership with the Appalachian Investors Alliance (AIA), has formed the StartUp NEPA Angel Investment Fund. They have gathered a group of eleven local angel investors who are looking to build up NEPA and promote the entrepreneurial spirit and culture in the region. The goal is to give back to the community by generating economic growth.
Whether your start-up is a tech firm or a micro-brewery, or you specialize in human resource solutions or software development, StartUp NEPA can help you realize your business dreams.
With a boost of funding and help from experienced entrepreneurs, you can turn your start-up into a successful business. Getting off the ground financially is a burden for so many entrepreneurs. Now’s your shot to pitch that idea that you’ve been grinding away at. If you pique their interest, StartUp NEPA angels can give you access to investor-lent money. Money that will allow you to launch your ideas into real action.
What Are the Angel Investors Looking For?
When you’re looking to impress a potential investor, and possibly mentorship, you’ll need more than just a solid business plan. Attracting an angel investor could be the breakthrough you need. But you need an idea that stands out. You need an idea that is grounded. One that has a good chance of making money.
“Our angel investors have indicated a strong preference for making an impact in the region,” says Tina Dowd, StartUp NEPA Chair and angel, as well as Co-Founder of Sundance Vacations. “The StartUp NEPA investors come with varied backgrounds and business knowledge enabling us to vet a wide range of industries for potential investment. We welcome new angels and we are definitely seeking an angel investor with health or medical knowledge to add to our team among others.”
What Is An Angel Investor?
An angel investor is someone who provides capital to an entrepreneur. They do so in exchange for convertible debt, ownership equity, revenue share or licensing. In some cases, they can even help make major business decisions and advise you on the development of your company.
All StartUp NEPA angel investors must meet U.S. Securities and Exchange Commission (SEC) guidelines. They invest their personal money into the fund. The StartUp NEPA angels are themselves local entrepreneurs, executives and business leaders.
How Does It Work?
The angel investors decide by majority vote which companies they will invest in. As a baseline, ten percent of the overall contributions to the fund can be awarded to a recipient.
The first step in the process is to fill out the intake form. You can also be referred to the angels through a network of associates. From there, a steering committee will review the proposal and vet the candidate. If the candidate passes the initial screening, they will be invited to present in person in front of the angels.
This step includes providing a pitch deck, financials, and projections. Existing businesses are welcome to present new product and service offerings. However, the angel fund hopes to fill the gap for start-ups, who typically have trouble securing financial backing due to their high risk of failure.
If the members decide to pursue an investment opportunity, a due diligence team will gather information and analyze the business. During this process they can either decline the opportunity or decide to move forward investing in your company.
“StartUp NEPA will fill a void for local entrepreneurs and small businesses assuring we can finance businesses in all stages of development and expansion,” says Jeffrey Box, President & CEO of NEPA Alliance.
Seeking New Angels
Grow your portfolio of investments by taking a chance on new up-and-coming local creatives by joining the StartUp NEPA Angel Investment Fund. An accredited investor, as defined by the SEC, can join the fund by purchasing at least one unit. Each unit is $50,000 and offers one vote. Investors can buy multiple units and receive multiple votes. However, to ensure balance, no investor can obtain more than ten percent of the voting rights.
Your financial contributions, as part of StartUp NEPA, could be the stepping stone for a start-up business to do great things here in NEPA. Learn more about becoming an angel investor by visiting their website.
Angel Investor Photo Caption:
Pictured Front Row, L-R:
Kurt Bauman, NEPA Alliance; Pat Gendler, CAN DO; Jeff Box, NEPA Alliance; Tina Dowd, Sundance Vacations; John Dowd, Sundance Vacations
Pictured Back Row, L-R:
Charlie Jefferson, Jefferson Werner LLC; Eric Fisher, AIA; Steve Mercil, AIA; Jake Latchman, Mericle Commercial Real Estate Services; Mike McCann, Sickler, Tarpey & Associates; Steve Ursich, NEPA Alliance
Absent from photo:
Neal DeAngelo; Chuck Cohen, Benco Dental; Kenneth Okrepkie, Ben Franklin Technology Partners; Joseph Lettieri, CAN DO; Frank Zukas, Schuylkill Economic Development Corporation; John Horell, Sickler, Tarpey & Associates