Seeking Angel Investment is A Big Step

I decided to take an Angelsoft baby step.

"I gotta do that," I said when I saw that the inaugural VT KnowledgeWorks Entrepreneurial Summit offers an opportunity for businesses to pitch before a panel of angel investors through CVG’s LiveFire!™ .

Even though "No one's feelings are spared and no question is out of line."

To compete to become one of the five presenting companies, company leaders enter company data online using Angelsoft, which produces a one-page .pdf used for screening prospective companies.

The deadline for submitting an online funding application to CVG’s LiveFire!™ is March 1, 2009.

Angelsoft, considered the industry standard in matching entrepreneurs and investors, offers a Sample Deal .pdf showing that each section of the generated page has a character limit.

What I did was print out the .pdf, open a Word document, then imagine I was submitting my company data to Angelsoft.  In the Word document, I described my VT KnowledgeWorks member company in terms of each of the sections described in the .pdf – within the character limits – Business Summary, Customer Problem, Product/Services, Target Market, etc.

I have reflected upon, analyzed, and written about my VT KnowledgeWorks member company since founding it seven months ago. 

I am invited constantly to ask what I am doing and why by the structure of the VT KnowledgeWorks program, by the multiple advisors available to me through the program, by the professionals with whom I have become associated through the program, and through my membership in Presidents’ Council.

Creating the prototype application took about two hours.  I wrote what I am doing and why.

The next section was headed "Advisors" – plural – and named one measly advisor.  Ha!  Watch this!  Here's the list of advisors for my VT KnowledgeWorks member company:

Corporate Attorney – Peer Segelke, LeClairRyan
IP Attorney - Michelle Mayberry, Latimer, Mayberry & Matthews
Accountant - Jamie Dunn, Hodges, Jones & Mabry
Banker - Susan Shephard, BB & T
Business Insurance Agent (with Cyberliability, of course) - Janelle Jordan, USI
Marketing Consultant – James Littlefield, Virginia Tech
Market Intelligence Consultant – Daryl Scott, Attaain
Fellow CEOs – My Presidents' Council members
The Team - VT KnowledgeWorks

I saved the document.

I opened an e-mail, typed "Would welcome your feedback on attached doc if you care to offer any," attached the document, started filling in the “To” box, and, because of the entrepreneurial network present here, easily filled it with twenty or so names. 

I clicked “Send.”

Comments

  1. Anne, glad you're finding Angelsoft to be useful! We developed the application form based on exhaustive feedback from over 450 angel investment groups and venture capital funds over the past five years, and it really distills the essence of what investors look for in your plan. I'm happy to answer any questions you might have about the application either privately (about your own company) or here on your blog, where it might be of interest to other VTKW members!

    -David S. Rose
    Founder & CEO of Angelsoft, Member of Virginia Active Angel Network (Blacksburg Edition), Proud Parent of a Hokie, and 20 year friend of Daryl Scott

  2. I was so honored that you left a comment. Thank you so much! And I thank you for your offer and have posted questions here:

    http://www.insidevtknowledgeworks.com/2009/02/angelsoft-synthesis.html

    With gratitude,
    Anne

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