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Aside from providing seed capital to early-stage companies in the Missouri-Kansas region, Mid-America Angels (MAA) also ensures that its private investors will get a significant return on their investments. The group is a team of experienced entrepreneurs and industry professionals that invest in start-up ventures from $250,000 up to $2M. This investment range is not usually provided by most angel groups and venture capitalists because start-ups are too risky to begin with. But with a sound business plan, unique advantage, and marketing strategies to increase sales and revenues, MAA is willing to support new enterprises not only financially but also through management guidance and expert counseling.
What specific qualities does MAA seek in start-up companies?
*Company operations must be within the Missouri-Kansas area, specifically 150 miles from Kansas City.
*MAA looks for early-stage ventures with scalable market and sustainable business growth. Likewise, ventures with unique advantage such as proprietary technology, patent, and easy market entry.
*Enterprises that can provide an above-average ROI (return on investment) within a specific time frame.
*Aside from being managed by a strong and competent team of business-minded entrepreneurs, potential start-ups must come up with a convincing and workable profit-generating strategies as well as alternatives depending on market and consumer behaviors. In addition, a well-articulated exit strategy must also be developed.
*A modest and justifiable valuation is an imperative.
To apply for financing, entrepreneurs are asked to submit a concise executive summary along with the Funding Application Form that is available on the MAA website. Areas of discussion in the executive summary are mentioned on the site. In addition, MAA requires a $100 processing and review fee for each proposal submitted to the group. MAA does not sign non-disclosure agreements (NDAs) so applicants are reminded not to include any proprietary and valuable business information in their executive summaries. Upon receipt, the Screening Committee reviews each proposal and assess its qualifications. In any case, the committee will contact the entrepreneur whether his proposal is eligible for investment or otherwise. Additional information and reports are requested from start-ups that meet the investment criteria. Consequently, shortlisted entrepreneurs will present in one of the network's dinner meeting and if a sufficient interest from private investors and members is apparent, the due diligence process will continue. The process includes personal interviews, product development, marketing plan discussion, and coaching. Likewise, legal fees are paid by the entrepreneur based on the agreement made between him and the investors.
The Lawrence Regional Technology Center (LRTC) and the Enterprise Center of Johnson County (ECJC), two of the foremost business incubators based on Kansas, oversees the management and operations of the Mid-America Angels. These institutions promote the development of technology companies in the region as well as creating jobs and business opportunities to help the regional economy.
Mid-America Angels Website
The Mid-America Angels maintains an efficient and browser-friendly website. The articles included on the site provides an overview of the network's history, objectives, and funding process. Entrepreneurs who are seeking investment are guided with a comprehensive discussion of the investment criteria, selection process, due diligence, and important financing details such as fees, executive summary content, and investment range.
On the other hand, private investors who plan to be a member of the network are provided with requirements and membership benefits. Essential information such annual dues and the SEC Rule 501 Regulation D is also explained.
The Resource Center page includes diverse business articles and quick links to various sites related to angel investment. In addition, a rundown of upcoming events and press releases is handy.
Aside from the useful FAQ page, the MAA site provides a feedback page where browsers can send suggestions and inquiries about the network.
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