Are you thinking about or in the process of preparing to raise capital? Do you want to build relationships with local investors? We’ve got just the thing for you!
We get it and you are not alone. One of the biggest challenges facing entrepreneurs is money. Accessing growth capital, securing investments, and generating revenue are issues that plague startup and growth-stage businesses alike.
What is the OKGN Angel Summit? Good questions. The OKGN Angel Summit is an investor-led program designed to expose accredited investors to the world of angel investing through a guided, hands-on process where a small venture capital fund is raised, deals are screened, and an actual investment in a startup is made at the end of the 11 week series. Companies can apply for a chance to participate.
The culmination is a public event (Thursday, April 11, 2019) where 6 finalists make their pitch to an audience of community members, and the winner is awarded an investment of up to $150K from the fund. That’s right, $150K. The deadline for companies to apply to participate in the summit is next Friday, January 18th.
Before you throw in the towel, give us a chance to debunk some of the reasons you may have for sitting this one out. Seriously, learn and win or learn, learn, learn – there is no downside to applying to the OKGN Angel Summit (did we mention the deadline is January 18th?).
1. I AM NOT READY
Oh yes you are! Part of the OKGN Angel Summit’s process is learning from the group about how to grow your company effectively and efficiently. Through the process you will get feedback, identify blind spots, learn how to refine your pitch, optimise your business model, and create a roadmap for how your company is going to scale. You can be pre-revenue or post-revenue. What investors are looking for great ideas and scalable business models.
2. MY COMPANY IS NOT A TECH COMPANY
No problem! The OKGN Angel Summit is industry agnostic so all industry applicants are welcome. Like we said, what investors are looking for great ideas and scalable business models.
3. I DON’T WANT TO LOSE
Honestly, you can’t lose. Even if you don’t leave with the big cheque you are still winning. Over the 11 weeks leading up the the finale you will have expanded your network, gained valuable feedback, and built quality relationships with investors. There is so much value in just going through the process. Seriously, can you think of anywhere else you could get access to multiple active investors, all willing and wanting to learn how to invest into your company?
4. I’M NOT A PEOPLE PERSON
We get that but part of being an entrepreneur is taking risks and putting yourself out there and that means building relationships and expanding your network. The purpose of the summit is to create experienced investors in the Okanagan that are geographically close to the companies they are investing in. This builds stronger connections between the investors and founders and also increases your ability to receive mentorship and guidance. It sounds like a win-win-win because it is.
5. FEEDBACK IS HARD
You’re right. It is also a critical part of scaling a business and accessing capital. Investors will conduct a broad and in-depth review of your application and business. They will offer a detailed analysis of strengths and weakness and how to de-risk your venture. Even if you don’t make it to the final 6 having feedback from 20+ business minds is a huge opportunity to move your business forward.
Still feeling unsure whether you’re a fit for the OKGN Angel Summit?
I will be available to answer questions and help you with the application during my open office hours all next week. Please stop by our office on the 2nd floor of the Innovation Centre or connect with me directly.
My Open Office Hours:
Monday the 14th at 3:00 pm – 4.30 pm
Tuesday 15th at 3:00 pm – 4.30 pm
Wednesday 16th at 3:00 pm – 4.30 pm
Friday 18th at 2:00 pm – 4:00 pm
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