| Angel Investor Group Profile |
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The Tech Valley Angel Network is an angel investor group that was formed by seven entrepreneurs in Albany, New York in 2001. However, the Center for Economic Growth (CEG) assumed the group's management in September of 2005, and took over entirely in March of 2006. Although this is so, the original founding members of the Tech Valley Angel Network still actively participate in the group's endeavors.
CEG is an organization that advocates business and economic development in the New York Capital Region and Tech Valley, by promoting technologically advanced companies and talents, and upholding advancement for local businesses through innovative services. CEG has a total of three investment programs including the Tech Valley Angel Network. The other two are Venture Bplan and the SmartStart Venture Forum. Tech Valley Angel Network is also a member of the Angel Capital Association.
Tech Valley Angel Network provides as much as $1 million worth of funding for start-up companies. To be able to qualify for funding, a company should have a high potential for growth and preferably located at the Northeastern New York State or New England. Also, the group does not have interest and does not invest on businesses other than those engaged in technological innovations. Although there are standards that the group follows for qualifying companies for funding, there may also be exceptions in some cases depending on the interest of the investment group members.
Any company that is interested in seeking funds from the Tech Valley Angel Network should accomplish the Business Review Form, which is available on the group's website. The application shall then be reviewed and forwarded to the Review Committee. The candidate company will be requested to present its business plan to the Review Committee. During the presentation, the Review Committee will also assist the candidate company in preparation for the final business presentation to the angel investors. The final business presentation will be held in one of the regular monthly meetings of the investment group. The business presentation will be followed by a question and answer. After which, the member investors will have a discussion among themselves for feedback. The feedback will then be sent to the candidate company for further clarifications or response. After the response has been received by the investment group, only then will the investment decision shall be made.
On the other hand, those who are interested to become Tech Valley Angel Network investors may also accomplish the Business Review Form or contact the group directly. The investment group does not only accept individual investors, but institutions and economic developers as well. Individual investor applicants should be qualified investors in accordance with the SEC regulations of the United States. That is, an individual or joint net worth of at least $1 million, an annual individual income of at least $200,000 or annual joint income of at least $300,000. Submitted applications are also reviewed and subject to the approval of the investment group. Investor applicants that are qualified and accepted to the group shall sign an investor agreement form and pay the annual membership fee. Members are entitled to participate in monthly meetings, access to the group's database of prospective investment companies, feedback reports and other important materials. And also, all member investors should have the capacity to invest at least $50,000 on any of the group's investment opportunities.
Tech Valley Angel Network Website
Details in the Tech Valley Angel Network website are largely objective and concise. It has a very simple presentation, but with a catchy opening home page that incites interest to further browse into the site. The website provides a brief history of the Tech Valley Angel Network and an overview of the process involved in their investment qualification. Biographies of the key members and/or founders are also included. It clearly shows their technological expertise and experience that make them highly credible for funding and mentoring technologically innovative companies.
Investor and entrepreneur applications are easily facilitated through a registration system. This system enables an applicant to input information through the Business Review Form. The accumulated information in the system can be accessed by investors and candidate companies in a log-in page using a username and password. All the necessary information for application are also provided, such as the processes and qualifications. Further information regarding investor and entrepreneur applications can also be found on the FAQ's page.
Additional informative pages are also provided in the website. These are useful tools for anybody interested in the investment business. There is a page for the latest events not just in Tech Valley Angel Network, but as well as in the whole investment business. Current news and press releases about the group are also provided in a separate page. A resource page, on the other hand, is included as well. This page provides links to very useful websites for investors and entrepreneurs. In the same page, a guideline and format for business presentations can be downloaded in PDF format. Lastly, the last page contains a contact form for comments and further queries.
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