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Tech Coast Angels

Tech Coast Angels (TCA) is the largest angel investment group in the U.S., ideal for startups seeking funding. With 300 members across Southern California, TCA connects entrepreneurs with potential investors before venturing into capital. Notably, TCA does not invest directly but facilitates connections through a structured presentation process. Entrepreneurs must demonstrate viability beyond just an idea and undergo stages from pre-screening to due diligence. Key success factors include preparation, strong presentations, and understanding market dynamics.

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Tech Coast Angels

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  1. What is TCA? Why Might you Care? What you need to know if you do. Tech Coast Angels

  2. What is TCA? • An Angel is an investor in a startup. • Angels invest before Venture Capital and after Friends, Family and Fools. • TCA is the largest Angel group in the US and has 5 groups in southern California. • It is a dating service. It does not invest.

  3. What is TCA? • 300 members, in SD, OC, LA, Ventura and Inland Empire. • SD is largest group with >100 members and is the most interested in hardware/software. • SD also has a strong BioTech interest. • Most members are NOT technical. • Goal is to make BIG $$$$ on Exit

  4. Why Might You Care? • One simple answer, • You need $$$ • for your startup.

  5. So, You need $$ for your startup • There are no rules (no fixed criteria). • He who has the gold, rules. • Angels do not invest in ideas. You need more than an idea. • Raise $100K to $2M in $25K chunks.

  6. So, You need $$ for your startup • Investments are not made in companies, they are made inPRESENTATIONS.

  7. Process • Apply via website • Pre-screening • Screening • Due diligence (1 to 6 months) • Dinner (5 times) • $$$$$$$$$$$$$$$

  8. Pre-Screen • Applications are reviewed monthly. • Application are first screened to remove perpetual motion machines and others that we think won't have a chance. • May get referral

  9. Pre-Screen • Applications are reviewed monthly. • Application are first screened to remove perpetual motion machines and others that we think won't have a chance. • May get referral

  10. Pre-Screen • Rejections due to us, application, applicant and “Can the applicant put on a good presentationat the screening next week?” • Presentation is informal • Company can come back

  11. More on rejection • Lack of team (Who's the CEO? Can he make this happen? Can they market this thing?) • Lack of experience • Lack of communication skills. • Lack of market knowledge. • Unable to explain what in the hell the product is!

  12. Screening • Held a week after pre-screen. • Presentation is formal. • Goal is to get interested people to do due diligence.

  13. Diligence • If you are prepared, organized and anticipated questions (and have the answers), may be done in a month. • If not – • IP status, Capitalization, Market, Technology

  14. Presentation Outline • Your background? • Company's product/service? • Description of technology • Status of Technology (patents, demo) • Market size, description and barriers. • How you are going to market.

  15. Presentation Outline • Exit – Who, What, When, How • How much money you need and why. • Are there mile stones that might be used to effect funding options? • What is your pre-money (How much is your company worth today)

  16. Presentation Pitfalls • Planting an idea that you then have to correct. (Very easy to do!) • Lack of organization. • Assuming that the audience can read between the lines. • Although the audience has a technical education assuming that it is technical.

  17. Good Presentation • Covers the subject. • Demonstrates the knowledge and competency of the presenter (CEO). • Presenter answers questions as if he understands the question, is not surprised by the question and is the world's expert on it. • Presenter is coachable.

  18. How Companies Fail • Suicide. • Spend money foolishly. • Believe that if 1 pregnant women can have a baby in 9 months, 9 pregnant women can have a baby in 1 month. • Try to have a appearance of an established company without actually being established.

  19. How Companies Fail • Create nationwide sales department (with no product to sell). • Buy stuff that a 'real' company needs, but it doesn't (yet). • Create employee handbook. • Get nice write up in local paper (even though it has no customers in town, in the country or product to sell).

  20. Preparing yourself • Hang around business people. • Attend meetings where business issues are discussed. (They are interesting.) • Listen to business people talk, the questions they ask, the answers they give. • Develop a business vocabulary. • Give presentations

  21. TCA Events • Meet the Angels • Quick Pitch

  22. Entrepreneurial resources • Connect.org • Commnexus • C-Cat • SDSU – Entrepreneurship • MIT Enterprise Forum

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