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Tech Coast Angels

What is TCA? Why Might you Care? What you need to know if you do. Tech Coast Angels. What is TCA?. An Angel is an investor in a startup. Angels invest before Venture Capital and after Friends, Family and Fools.

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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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