How angel ecosystem and angel investors impact internet startups
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Many regions have programs to support Startups. And Startups are one of the four ways to improve a local economy. However almost all of them focus on supporting the Entrepreneurs with skills. When you focus on expanding the amount of capital in a region by growing more Angel Investors who are more effective with their investments, you can create a significant change in the Startup Ecosystem.
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How angel ecosystem and angel investors impact internet startups
- 1. 2016/10/10 John Sechrest Seattle Angel Conference @sechrest How Angel Ecosystem and Angel Investors impact Internet Startups
- 2. John Sechrest Founder of Seattle Angel Conference Facilitator of Startup Weekends Lean Startup Seattle Seattle Startups Open Coffee Founded an Internet Service Provider Previously Economic Development Director
- 3. Economic Development Pathways Recruitment ( Bring from outside) Retention and Expansion (Grow what we have) Tourism (Show what we have) Startups ( Make new innovation )
- 4. Startup Ecosystem Entrepreneur Centric Coworking spaces Accelerators Educational programs Networking programs Startup Weekend
- 5. From idea to growth company Focused on creating Growth companies 7+ Billion people who have problems to be solved
- 6. What makes a good Ecosystem (ala Dave McClure) Attitude - Optimism Mentorship and Education - Knowledge Universities and Companies - People Capital, Legal, Finance - Infrastructure Engineering and Design - Product Platform and Distribution - Customers Online Payments - Monetization IPO / M&A Market - Exits
- 7. Building a startup ecosystem funnel 1000 entrepreneur garages ( $10K) 300 Accelerator Startups ( $50K ) 100 Seed Stage startups ( $200K ) 30 Series A startups ( $1M ) 10 Later Stage companies ( $10M ) 2 IPOs ( $100M )
- 8. If Entrepreneurs are everywhere, then Angel Investors can be everywhere
- 9. From Dave McClure: Solutions for Investors in new Tech Markets Increase Number of Investors Increase Frequency of early-stage investors Increase portfolio size/ Decrease check size Increase frequency of acquirers
- 10. Increase the number of Investors Add more new investors Increase the number of deals Build cohorts of investors Increase deal flow Increase the quality of companies Lean Startup Startup Weekend Founder / Team formation Increase the quality of deals Train investors Create investor perspective Increase the investor portfolios Invest in cohorts How can we improve investments?
- 12. What makes an Angel Investor Different than A Venture Capitalist Venture Capitalists invest other people’s money Venture Capitalists take a fee for investing other people’s money Angel Investors investor their own money Angel Investors work to minimize overhead on investments
- 13. What do Angel Investors bring to the process? Due Diligence Feedback to the Entrepreneurs Perspectives on the Market Connections to others Social Validation for other investors
- 14. 5 types of Group Angel Investing Angel Networks - 8 networks in Seattle Managed Angel Funds - Founders Coop Passive Angel Funds - AoA fund Active Angel Funds - Seattle Angel Fund Event Funds - Seattle Angel Conference
- 15. What makes for good Angel Investing: Recognize that investing involves significant uncertainty. Invest in things you know. Build a diversified portfolio Do meaningful due diligence Support your startups Make introductions
- 16. Seattle Angel Conference Progress In the 10th Cycle Invested in 21 companies Near $2M invested Over 200 new Angel Investors Created foundation for the Seattle Angel Fund
- 17. What are the ecosystem roles of Angel Investors Increase the success rate of growth companies Increase the quality of startup founders Decrease risk for startups Connect startups to resources Provide perspective
- 18. How does the Angel Conference Work? 40 Investors 50% New 50% Previous Investors 50 Companies 12 week review 24 Quarter Finalists 12 Semi Finalists 6 Finalists 1 Investment 2-3 Side deals Public final Event
- 19. Benefits of the Conference Give Investors perspective Small risk to learn about Angel Investing Connects new Startups with new Angels Helps Startups get stronger Creates better deal flow for other Angel Groups Creates more Angel Investors for other Angel Groups Creates stronger leadership for startups
- 20. Evolution of a Startup 1st - Seattle Angel Conference 2nd - Seattle Angel Fund 3rd - Specialized Angel Network 4th - Passive matching Fund 5th - Venture Series A
- 21. Seattle Angel Conference Progress In the 10th Cycle Invested in 21 companies Near $2M invested Over 200 new Angel Investors Created foundation for the Seattle Angel Fund
- 22. Seattle Startup Scene 11 angel groups 45+ Coworking facilities 5 Active VC’s Hundreds of events each month
- 23. Questions?
- 24. Resources Rob Wiltbank Data http://www.willamette.edu/~wiltbank/ Wade Brooks http://willamette.edu/mba/faculty- research/faculty/brooks_w ACA https://www.angelcapitalassociation.org/ ARI http://www.angelresourceinstitute.org/ Halo Report http://www.angelresourceinstitute.org/research/halo- report/halo-report.aspx Gust.com Angel.co
- 25. Seattle Resources http://www.funding-quest.com/wp- content/uploads/2016/04/PNW-angel-groups-2015- investments.pdf http://startupseattle.com http://startupseattle.com/resources/map-seattle-startup- ecosystem/ http://geekwire.com Geekwire “200” - http://www.geekwire.com/geekwire-200/ http://www.geekwire.com/startup-list/
- 27. StartupPathways Companies attract talent to Seattle. People at companies get idea to start a company Come to Open Coffee or to other networking events Perhaps come to a Startup Weekend to explore idea Leave Job Find Teammates Join Coworking space Apply to accelerators Apply to Angel Groups Grow company Do Merger