Dungannon Enterprise Centre has received more than £20,000 in grant funding from RBS, Ulster Bank’s parent company, to support the development of female entrepreneurs.

InnovateHer Mid-Ulster will involve 25 women from across the Dungannon, Cookstown and Magherafelt council areas learning how to create a feasible business model and develop key skills, before pitching their ideas to a panel of experts.

The funding is part of the RBS Inspiring Women in Enterprise £1.5m funding pot. The programme aims to help 20,000 women “unlock their enterprise potential” by the end of 2015.

Shauna Burns, head of Mid-Ulster Fermanagh Business Centre, Ulster Bank, said: “This is a fantastic achievement for Dungannon Enterprise Centre and evidence of its strong support for local innovations.

“Through our ‘Business Women Can’ initiative, Ulster Bank has been a proud supporter of female entrepreneurship and I’m confident that this funding will help in the development of strong local businesses in the future.”

The programme has so far supported more than 3,600 women, creating 430 businesses.

Article source: http://www.insidermedia.com/insider/ireland/120247-dungannon-enterprise-centre-receives-female-entrepreneur-funding/

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Tech Coast Angels

The San Diego chapter of the Tech Coast Angels said Wednesday it funded 15 startups with a total of $7.3 million in the first half of 2014 — as much as in all of last year.

“This is by far the most active year in our history,” said Jeff Draa, president of the San Diego Tech Coast Angels. “The type of tech companies in our portfolio also run the gamut; from consumer-oriented firms to life science and healthcare. Our members are committed to fueling the innovation economy and we’re excited for what this means in terms of economic opportunities for the region as a whole.”

The average investment size so far this year by the organization was more than $485,000.

In the past two and one-half years, San Diego Tech Coast Angels has invested $18 million in startups, with $10 million of those investments in the life science and healthcare industries.
“We continue to actively seek out entrepreneurs with great ideas that are in need not only of funds, but also of the strategic counsel and guidance that come with our investment,” said Jack Scatizzi, lead analyst for San Diego Tech Coast Angels.

The San Diego chapter was the second most active angel investing organization in the United States last year. Tech Coast Angels also has chapters in Orange County and Los Angeles.

An “angel investor,” as distinguished from a venture capitalist, is an individual who provides capital for a startup.

Article source: http://timesofsandiego.com/business/2014/07/30/tech-coast-angels-fund-15-startups-first-half/

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Online medical appointment booking may still be in its infancy in Europe, but Polish entrepreneur Mariusz Gralewski is adamant that like online hotel booking, negligible in 2000 but now representing a quarter of Europe’s hotel booking activity, healthcare is heading in the same direction.

As CEO and founder of DocPlanner a leading European platform for finding and booking appointments with medical and dental professionals, he speaks with considerable authority.

Founded in 2012, DocPlanner has raised $4million total in two funding rounds, backed by Point Nine Capital Piton Capital and RTAventures, and just this week acquired the Turkish online medical booking firm Eniyihekim.

Gralewski, who studied computer science at the Warsaw University of Technology and previously co-founded the Polish professional networking site GoldenLine.pl came up with the idea for Docplanner came when he moved from his hometown to the Polish capital, Warsaw, and couldn’t find a doctor in the city.

“The available websites at the time weren’t very useful in helping me make an educated decision on the best healthcare professional for me. I wanted to change that,” he says.

Mariusz Gralewski CEO of DocPlanner DocPlanner CEO Mariusz Gralewski

DocPlanner CEO Mariusz Gralewski

Gralewski’s first foray into the dotcom business was with his fellow student and later Docplanner co-founder, Jakub Skoczylas, who together created Goldenline, a professional social network akin to Linkedin or Germany’s Xing, in their dorm room.

He says: “Although Linkedin was already in the Polish market we were able to surpass them quickly and we’re now about twice as big, with a team of around a hundred staff and a solid revenue stream. We sold a part of Goldenline to a Polish media company in 2011, after which I tried out angel investing for some time. But I found I liked the operational side of things a lot more and had a dream of building a global company.”

DocPlanner was designed to help patients receive faster and more convenient access to health treatment by allowing them to search for and book appointments with nearby medical professionals online. The website carries listings of over one million doctors and dentists, displays availability, and allows visitors to choose and book a physician by browsing through a review and rating system.

The markets in which the business operates are characterised by weak legacy public healthcare systems and long waiting periods, and given the dire state of government budgets, with little sign of improvement. It is a situation that plays into DocPlanner’s hands, by making patient-doctor discovery and booking much more transparent and efficient.

It is, however, a very fragmented market in Europe, with various local players in each country vying for a bigger market share.

He says: “As in the case of Eniyihekim in Turkey, once a player takes a significant lead over others, especially in terms of traffic, they become very difficult to dislodge. The market is still up for grabs; aside from ourselves, we are aware of only one other player globally who has been able to enter and secure a leadership position in multiple geographies. Even the leading US players, which were the first to offer online appointment booking, are concentrating on the local market for now.”

European market leader

Gralewski also points out that the continental healthcare market is a local one, with  significant differences between European countries making international expansion extremely challenging. Nevertheless, from its Polish HQ in Warsaw, DocPlanner has expanded to 25 countries, operating through national websites such as Znanylekarz.pl in Poland, Docplanner.ru in Russia, and Znamylekar.cz in the Czech Republic.

“The Czech Republic domain znamylekar.cz, which translates into ‘well-known doctor’, was acquired from a young entrepreneur back in 2011. He wasn’t really focused on scaling it, while we had some experience from Poland, which we could employ in the neighbouring market,” says Gralewski.

“In Russia we also bought a local domain for a small sum but eventually decided to operate as docplanner.ru. In most other markets going forward we will operate under the docplanner domain unless we are able to acquire a leading player with a really strong and recognised brand, as was the case with Eniyihekim,” he adds.

Article source: http://www.forbes.com/sites/alisoncoleman/2014/07/30/rise-in-european-online-medical-bookings-spells-success-for-polands-top-doc-com-entrepreneur/

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Ritu Sharma, co-founder and president of Women Thrive Worldwide speaks at the Hunger Fast launching. Photo by: Laura Elizabeth Pohl / Bread for the World / CC BY-NC

Violence against women, girls’ education, child marriage and food security are all topics covered by Ritu Sharma, a leading voice on international women’s issues and U.S. foreign policy, in her recently released book “Teach a Woman to Fish: Overcoming Poverty around the Globe.”

They are also, of course, issues that inform the larger conversation that efforts to eradicate poverty and achieve economic prosperity cannot succeed when women and adolescents — especially girls — are denied full rights and participation in society. And with the next set of global development objectives starting to take shape, women’s rights advocates and the international community at large are looking to the post-2015 Sustainable Development Goals.

Devex caught up with Sharma, co-founder and president of Women Thrive Worldwide, to shed light on what is and isn’t working in the future development framework, and what’s on her mind when it comes to the women and girls’ agenda right now, as well as where the International Violence Against Women Act stands.

Here are a few highlights from our conversation:

In the book you highlight the locally-based grassroots women’s organizations that received support from the U.S. government following the 2004 tsunami in Sri Lanka, and you say that supporting these organizations is key. Who is doing that well, and where is there room for improvement?

One of the successful models out there already is through the regional foundations that the U.S. government funds, such as The Asia Foundation or the African Development Fund. What they can do is provide assistance to grassroots organizations in small amounts of money — the State Department and USAID don’t have to administer that. They can also provide small amounts over a long period of time, which is often what grassroots groups need. They don’t need $10,000 a year, that’s going to be really problematic. But they do need $10,000 over 10 years; they can really do something with that. The Asia Foundation, for example, provides a lot of capacity building for the organization at the same time, in management, finance, program evaluation … that’s the kind of thing that gets organizations to the point where they could take money directly from the U.S. government and work with it well. We need to find a way to provide that assistance where it can get to the people who need it with the minimal amount of middlemen.

While net enrollment rates have increased as a result of the MDG goal of universal primary education, there is a need for a shift from the focus on getting children, especially girls, enrolled in school to actually measuring their learning. Is anyone making that shift? How do you ensure that the SDGs put priority not in number of enrollments, but quality of education?

There’s a huge effort around this. In fact, the Brookings Institution, Women Thrive Worldwide and Save the Children are working together on it to make sure that learning is addressed in the next set of global development goals. There’s a whole task force focused on measurement questions, and there are lots of ideas on how to do it.  I’m hopeful that learning will get embraced by the U.N., although the latest draft that came out was disappointing on learning.

There’s a fear that sexual and reproductive health will get left out of the SDGs. What’s to be done about it?

I, too, hear that sexual and reproductive health are going to get left off the 2030 agenda. Or that if it gets put in, it’s going to get traded away in the intense negotiating process. It’s so frustrating and it’s so vexing. It’s a small group of countries bent on keeping reproductive health out that sets us all back. That’s the way the United Nations works. We also need to think about: What other venues can we use to push that agenda forward? I think the U.S. movement around international family planning could do more to engage women’s rights movements in each country. In other countries it’s critical that reproductive health fit into and support the entire local women’s agenda on issues like violence and economic opportunity, not just sexual and reproductive health. I think it’s a matter of understanding that the agenda local groups have is more varied and holistic; there needs to be a willingness to support their full agenda.

You mentioned that local groups in many other countries do a much better job of including men in women’s rights movements. What can international groups learn from this?

We need to think about gender and not women, which means all our projects need to engage both women and men. Even women’s projects need to be gendered. If that doesn’t make sense, then you don’t understand the difference between women and gender. Especially when projects target women, they need to engage men, or else the women who participate aren’t going to be supported at home. Look to local groups embedded in the community that actually work with the whole community —with husbands and wives, boys and girls. These groups understand the need to work with everyone and the local cultural context.

You warned of donors being so enamored with microcredit that they forget the bigger picture: 1.5 billion jobs need to be created by 2030. What’s the danger in microcredit infatuation, and what appears to be next?

It’s not that we shouldn’t focus on microcredit. But if we focus on it to the exclusion of really thinking about peoples’ livelihoods and the bigger policies that affect those livelihoods. A lot of countries need to have pro-employment economic growth, yet their economic policies are the opposite. You can throw as much microcredit out there as you want, but you’re scratching the surface until you work on bigger structures in the country. That’s what we should be pushing at the same time. But often donors don’t want to fund that; they want to fund the micro entrepreneur. Funding policy change is often more abstract, but it can be a thousand times more powerful.

Is anything else going on behind the scenes with U.S. legislation or the post-MDG agenda — especially in terms of women and girls?

IVAWA is heating up and getting a lot of bipartisan support, and it seems to be a place where all sides can come together. The question is: Are they going to move it? I hope so. I think [the act] is uncontroversial and can help all those that need to attract unmarried women voters. It’s a win-win situation.

Interested in women’s empowerment and gender equality? Learn about U.N. Women‘s Empowering Women – Empowering Humanity:  Picture It! campaign in the lead-up to Beijing+20. Devex is a proud media partner.

Article source: https://www.devex.com/news/what-s-next-for-women-and-girls-in-the-post-2015-agenda-83990

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One year's garden leave at 37, followed by a new career

One year’s garden leave at 37, followed by a new career

What does it take to achieve the perfect banking career arc – in at 20, out by 40? And is this still possible? We spoke to Adam Knight, who’s done it.  After graduating from Cambridge in 1996, Knight joined Goldman Sachs as a commodities trader. He spent six years as an MD in commodities at Goldman Sachs before becoming global head of commodities at Credit Suisse for four years. He left the City in 2011 and is now an angel investor, working from home, doing the school run, and building a ‘portfolio career’ of stimulating, saintly and smart investments. If you want to be like Adam, this is what you need to know….   

What made you decide to go for a career change out of banking?

It was mostly about opportunity. I didn’t make a conscious decision to leave, but the business I’d built –a partnership between Glencore and Credit Suisse – was dissolved as a joint venture and transferred to Credit Suisse and I suddenly had an opportunity to leave, which I decided to take.

Do you still trade?

No.

Do you miss it (trading)?

No.

Does that surprise you?

I loved trading while I did it and I was fortunate to work with great people at great organisations. At that time, trading fitted with my lifestyle, but now that I’ve got a young family being woken up in the night because I’ve got [trading] positions that have moved isn’t something I’d want.

I still get the intellectual challenge of backing my ideas as an angel investor, but I don’t have the 24 hour nature of trading and that suits me.

Before I left banking, I’d been transitioning away from being a trader anyway. – I’d been a trader and then a trader manager and then a manager with no direct trading responsibilities.

When you changed career, you set up Social and Sustainable Capital. Did you feel that you wanted to give something back?

I was very lucky in banking. I had a good career and rode the wave of the financial markets at a time when it was personally lucrative to do so. But I also saw how markets had been mismanaged by some in the lead up to the financial crisis and how this had damaged the reputation of financial services and the perception of markets. When I left, I wanted to show that capitalism and markets could be a powerful force for good that can generate specific beneficial social outcomes if they’re directed in a particular way.

So, SSC was set up with a political and intellectual purpose in mind?

Political no, but intellectual yes. We wanted to show that markets can help solve some of the issues that charities are currently engaged with. Charities can then focus resources on some of the more intractable problems that cannot be addressed through an adapted business model. For me, therefore, it was a business and intellectual challenge, but it was also pragmatic – about the most sustainable way to solve some of the big social issues of our time.

Did you know that you wanted to go into sustainable investing when you changed career?

No. I had a year’s non-compete, so I spent some time at home with my family. I also volunteered with some charities and realized that I couldn’t actually help them that much. After a career in trading, I didn’t really have the skills that a charity needs and I didn’t want to go back and develop new skills from scratch.

Instead, I decided to try and find a way to use the financial skills I’d developed to have a positive impact, and that was when I discovered Impact Investing. It allows me to maintain the intellectual challenge of investing, but to do so whilst benefiting more than just myself and my family.

What’s the long term plan with SCC?

Ultimately we’d like to deliver strong enough double bottom line returns (financial and social returns) to attract more investors to the sector to help social investment become a more established asset class and thus enable social enterprises to scale and deliver on their potential. At the moment we’re in the process of making our first investment and have already involved our first bank (soon to be announced), which is providing debt to the funds.

I suspect a lot of other bankers would like to do what you’ve achieved. What’s your advice to them?

I lucked out. I hit the jackpot early – I was 37 when I left the industry in 2011 and now I’m 40. I’ve just been incredibly lucky. It’s much harder to make money in banking now than it used to be. It’s a tougher industry – and that’s probably a good thing. However, while people who worked in banking for the easier times will probably say things aren’t so good, if you’re coming in fresh now it’s still a great career – particularly compared to many others. You’re at the cutting edge of the world economy and you’re working with some talented and interesting people and businesses.

You’ve also invested in Coinfloor, can you talk about that?

Coinfloor is a Bitcoin exchange. I think digital and crypto currencies offer a fascinating opportunity. I didn’t want to simply buy Bitcoins, I wanted to be involved in the development of the currency. Coinfloor have a very good model, with a lot of emphasis on security and compliance, which is important if you are trying to build mass acceptance for a new payment method – particularly one that is mostly being driven by start-ups.

Where do you see yourself in 5 years?

I am trying to build a portfolio career where I have active business, social investment and charitable roles. In addition to Social and Sustainable Capital and Coinfloor, I am a trustee at the Roundhouse and on the board of a couple of other companies I have invested in. Between these I feel that I have a good balance between using my existing skills whilst also having to learn about new sectors and new business models.

It’s very fulfilling. I’m busy, but I manage to keep a fairly flexible schedule. I take my children to school most days and then work from home and try to pick them up again as often as possible. If I could have designed my life, this is how I would have arranged it and I feel very privileged to be in such a position.

What advice would you offer to other bankers interested in angel investing?

There’s a pretty good network of angel investors in London, but the skills are quite different from liquid markets trading. As such, I don’t invest in companies unless I know someone who’s involved and I like to piggy back on other people who have better investing skills than me – VCs like Passion Capital and Dawn Capital for example.

Angel investing isn’t a short term way of supplementing your income – it’s a long term investment strategy. I haven’t had any exits from my investments yet. They mostly seem to be going well, but only time will tell whether I’m right about that…

Related articles:

Fear grips senior investment bankers, who refuse to budge

1 thing about the Lloyds LIBOR fine that should terrify traders everywhere

Shock as commodities hedge fund performs reasonably well

Article source: http://news.efinancialcareers.com/uk-en/179850/retired-banking-aged-37-now-im-40-designed-life/

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Angel Investing and How it Can Help Your Business Succeed

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Douglas Goldstein

Douglas Goldstein.

In the second Goldstein on Gelt podcast this week, David S. Rose, entrepreneur, former angel investor, and founder of Gust, talks about angel investing, venture capital, and other concepts related to building a business.  Find out more by listening to your favorite personal finance show.

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About the Author: Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning firm located in Jerusalem. He specializes in working with clients in New York, Florida, and Israel and is a licensed financial professional both in the U.S. and Israel. Securities are offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, SIFMA. Accounts held at Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Doug’s newest book The Expatriates’ Guide to Handling Money and Taxes is available at www.expatguidetomoney.com. He hosts a weekly finance show, Goldstein on Gelt, on internet radio. Listen live or download podcasts. Toll-free from U.S. 1-888-327-6179, Jerusalem: (02) 624-2788. Follow on Twitter: @DougGoldstein or contact at doug@profile-financial.com.

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Article source: http://www.jewishpress.com/blogs/goldstein-on-gelt/angel-investing-and-how-it-can-help-your-business-succeed/2014/07/29/

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It’s one of the most pressing questions for startup entrepreneurs: how can I win funding from angel investors? David Rose, author of Angel Investing: The Gust Guide to Making Money and Having Fun Investing in Startups, estimates that “angels invest in maybe one out of 40 deals they see,” for a hit rate of 2½ – 3%. How can you make sure your company joins those ranks? Here are four tips Rose shared in a recent interview.

Network the right way. “A lot has been written about the ‘old-boys network’ and ‘who you know,’ and that’s actually bullsh*t,” says Rose. Most angels aren’t flipping through the alumni roster to find deals. Instead, they’re going to events where any aspiring entrepreneur can meet them. “ You’re much more likely to find angel investors through going to tech meetups and other kinds of conferences,  and getting involved with people in this space. One of the great sources for deal-flow for angels is CEOs of their existing portfolio companies. If you invest in somebody, you trust their judgment, and if they say ‘this is a company you’ve got to see,’ then you talk to them. So go out and engage in the community.” Rose won’t rule out investing in people who cold call him, but for him – and most other angels – it’s not the preferred route. “The trick in many cases is to get to somebody who can introduce you to an angel. It’s not that it’s ‘who you know.’ It’s that having somebody reach out to you through some intermediary helps to provide the signaling [that you’re credible].”

Give back. “Everybody has something to give back,” says Rose. Whether through teaching or mentoring other entrepreneurs, or providing help or connections, you can make a difference to others and that goodwill will come back to you. He cites the experience of a woman named Tara Hunt who gave a well-regarded TEDx talk about her life as an entrepreneur. “It’s about the really tough, challenging life she experienced in a start-up,” says Rose. “It was really interesting and it’s now become a classic that I use in some of my lectures, and she’s made a real name for herself with that one talk. People now know who she is…It’s a very interconnected world where the more people you’re connected to, the better off you’re going to be.”

Accept standard deal terms. No matter how great your company is,  you can kill angels’ interest in a deal by insisting on non-standard deal terms.  Recalling one prospective deal a few years ago, Rose recalls, “I was ready to do it. I was ready to say, ‘That’s really cool, I’ll take a big bite’, then they said, ‘Okay, here’s our deal structure.’ They literally covered this very conference table with a print-out the size of the table, going ‘This company owns the IP, and this is licensed here, there was a company that owns that’…I’m looking at it saying, ‘Hello, what? No.’ So even though…people were willing to bet on this advanced futuristic technology, nobody was willing to clean up the crap they had done for their deal structure. It just didn’t make any sense.” Advises Rose, “The best thing you can do is to be standard. People have been doing this for decades; they know how to do it, we know how to do it, it’s how the game is played. Be standard.”

Assemble the right team. Of course angels love a brilliant founder or co-founders. But that doesn’t get very far if you haven’t built up the right team around you. “What I’ve come to realize after all these years is that it’s a question of team chemistry,” says Rose. “Hire slow and fire fast, which is generally very difficult because both sides are counterintuitive.”  But with the right players onboard, your startup will be far stronger, more nimble, and more attractive to angel investors.

Winning funding from angel investors isn’t easy. But if you get involved in the startup community, give back, build the right team, and don’t try to reinvent the wheel on deal terms, you’re well on your way to beating out the other 97% of aspirants.

Dorie Clark is a marketing strategist and keynote speaker who teaches at Duke University’s Fuqua School of Business. She is the author of Reinventing You: Define Your Brand, Imagine Your Future and the forthcoming Stand Out: How to Find Your Breakthrough Idea and Build a Following Around It. You can subscribe to her e-newsletter.

Article source: http://www.forbes.com/sites/dorieclark/2014/07/28/how-to-win-angel-funding/

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Ted Zoller

Ted Zoller









Lauren K. Ohnesorge
Staff Writer- Triangle Business Journal

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Entrepreneurs: Only five percent of you need venture capital.

That’s according to observations made by one of North Carolina’s chief entrepreneurial gurus, Ted Zoller, director of the Center for Entrepreneurial Studies at the University of North Carolina at Chapel Hill.

Out of the 1,000 estimated startups in Raleigh, Durham and Chapel Hill, that’s 50.

Read: How many startups are in Durham, Raleigh, Chapel Hill?

And the 950 or so remaining startups won’t necessarily wither away, says Zoller. Debt, angel investing, crowdfunding – they’re all options for growth capital.

Zoller, on a break from an National Science Foundation-funded Innovation Corps Program meeting, took the time to chat about some recent numbers – namely that 1,000 startup figure coupled with the $54.1 million that the National Venture Capital Association says Triangle companies raised during the first half of 2014.

If his estimate stands correct – that means only 16 of the 50 venture capital-eligible companies raised cash in the first half of the year.

And he’s not surprised at the low numbers, given the Triangle’s distance from Sand Hill Road. But the endless search for venture capital dollars could actually stifle your startup, he warns.

Why? Because it’s not for everybody.

“Venture capital is like the black swan in a lot of ways,” he says, adding that venture capitalists look for home runs and “huge outcomes” that entrepreneurs can demonstrate. And for most startups? What VCs are looking for can’t be demonstrated on paper.

But the emphasis, both in the media and in the mindset, still seems to be on those VC dollars, he says. And the reasoning is simple: “If you are VC-backed, chances are, there will be a big exit.”

Lauren Ohnesorge covers information technology and entrepreneurship.


Article source: http://www.bizjournals.com/triangle/blog/techflash/2014/07/uncszoller-venture-capital-is-the-entrepreneurial.html

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It’s one of the most pressing questions for startup entrepreneurs: how can I win funding from angel investors? David Rose, author of Angel Investing: The Gust Guide to Making Money and Having Fun Investing in Startups, estimates that “angels invest in maybe one out of 40 deals they see,” for a hit rate of 2½ – 3%. How can you make sure your company joins those ranks? Here are four tips Rose shared in a recent interview.

Network the right way. “A lot has been written about the ‘old-boys network’ and ‘who you know,’ and that’s actually bullsh*t,” says Rose. Most angels aren’t flipping through the alumni roster to find deals. Instead, they’re going to events where any aspiring entrepreneur can meet them. “ You’re much more likely to find angel investors through going to tech meetups and other kinds of conferences,  and getting involved with people in this space. One of the great sources for deal-flow for angels is CEOs of their existing portfolio companies. If you invest in somebody, you trust their judgment, and if they say ‘this is a company you’ve got to see,’ then you talk to them. So go out and engage in the community.” Rose won’t rule out investing in people who cold call him, but for him – and most other angels – it’s not the preferred route. “The trick in many cases is to get to somebody who can introduce you to an angel. It’s not that it’s ‘who you know.’ It’s that having somebody reach out to you through some intermediary helps to provide the signaling [that you’re credible].”

Give back. “Everybody has something to give back,” says Rose. Whether through teaching or mentoring other entrepreneurs, or providing help or connections, you can make a difference to others and that goodwill will come back to you. He cites the experience of a woman named Tara Hunt who gave a well-regarded TEDx talk about her life as an entrepreneur. “It’s about the really tough, challenging life she experienced in a start-up,” says Rose. “It was really interesting and it’s now become a classic that I use in some of my lectures, and she’s made a real name for herself with that one talk. People now know who she is…It’s a very interconnected world where the more people you’re connected to, the better off you’re going to be.”

Accept standard deal terms. No matter how great your company is,  you can kill angels’ interest in a deal by insisting on non-standard deal terms.  Recalling one prospective deal a few years ago, Rose recalls, “I was ready to do it. I was ready to say, ‘That’s really cool, I’ll take a big bite’, then they said, ‘Okay, here’s our deal structure.’ They literally covered this very conference table with a print-out the size of the table, going ‘This company owns the IP, and this is licensed here, there was a company that owns that’…I’m looking at it saying, ‘Hello, what? No.’ So even though…people were willing to bet on this advanced futuristic technology, nobody was willing to clean up the crap they had done for their deal structure. It just didn’t make any sense.” Advises Rose, “The best thing you can do is to be standard. People have been doing this for decades; they know how to do it, we know how to do it, it’s how the game is played. Be standard.”

Assemble the right team. Of course angels love a brilliant founder or co-founders. But that doesn’t get very far if you haven’t built up the right team around you. “What I’ve come to realize after all these years is that it’s a question of team chemistry,” says Rose. “Hire slow and fire fast, which is generally very difficult because both sides are counterintuitive.”  But with the right players onboard, your startup will be far stronger, more nimble, and more attractive to angel investors.

Winning funding from angel investors isn’t easy. But if you get involved in the startup community, give back, build the right team, and don’t try to reinvent the wheel on deal terms, you’re well on your way to beating out the other 97% of aspirants.

Dorie Clark is a marketing strategist and keynote speaker who teaches at Duke University’s Fuqua School of Business. She is the author of Reinventing You: Define Your Brand, Imagine Your Future and the forthcoming Stand Out: How to Find Your Breakthrough Idea and Build a Following Around It. You can subscribe to her e-newsletter.

Article source: http://www.forbes.com/sites/dorieclark/2014/07/28/how-to-win-angel-funding/

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On this week’s Goldstein on Gelt Show, Doug meets engineer and personal finance blogger Len Penzo. Find out about the similarities between engineering and finance and why it’s up to you to take responsibility for your finances.
In part 2 of the Show, David S. Rose, entrepreneur, former angel investor, and founder of Gust, talks about angel investing, venture capital, and other concepts related to building a business. 

Article source: http://www.israelnationalnews.com/Radio/News.aspx/5600

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