If you are a new or experienced investor with your eye on OKGN tech, the OKGN Angel Summit is a great opportunity to plug in. This investor-led program was 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. Participants will go through an 11-week series of structured investor meetings including company reviews, founder pitches, and due diligence. The culmination is a public event (Thursday, April 11, 2019) where the finalist companies make their pitch, and the winner is awarded investment from the fund.
The OKGN Angel Summit is based on the successful Seattle Angel Conference model. The goal of the summit is to raise awareness about angel investing, its benefits and opportunities, and to educate accredited investors in a participatory manner.
“This Summit will bring together a diverse set of people, talent and startups to create collision zones that can lead to connections and collaborations,” says Thuy Tran, Programs Manager with Accelerate Okanagan. “It is also a great opportunity to learn from experienced investors about operating outside of traditional investment sandbox.”
The launch of the first annual OKGN Angel Summit is powered by Accelerate Okanagan and fuelled by the support of John Sechrest, founder of the Seattle Angel Conference as well as the efforts of Richard Takai, Co-founder, and Director of Ronin HR Inc. “We have a lot of wealth here in the Okanagan,” says Takai. “But currently, not a lot of that capital is being deployed in the startup ecosystem”.
“The Summit launches on January 28th, 2019 and will consist of twenty to forty investors each willing to invest 11 weeks and $5,000, to create a venture capital fund,” Takai explains. “Twenty to forty startups will apply to pitch, engage with the investors and receive feedback from the group. Additionally, companies who make it through to the semi-finals will receive mentorship from AO’s EIRs”.
At the end of the 11 weeks, the 6 finalists pitch to an audience of community members at the April 11, 2019 finale, with the winner receiving an investment from the fund. The goal is to invest a minimum of $100,000 in the winning startup.
THE COST
The cost to participate in the OKGN Angel Summit as an investor is $5,500. This includes a $5,000 investment in the fund and $500 used for legal and administrative costs. Investors must qualify as accredited (this is defined by the BC Securities Commission). The Fund Manager will have the final decision as to the participation of any investor in the fund.
THE COMMITMENT
The program will be conducted over an 11-week period starting in late January 2019. Participating investors need to commit to attending substantially all of the sessions. While occasional absences are understood, the value, both individually and for the collective, is derived from active participation.
THE CALENDAR
December 21 – Deadline to subscribe
January 10 – Signing party
January 28 – First meeting/review company applications
February 4 – Select quarter finalists
February 11/12: 3-minutes pitches
February 19 – Select semi finalists
February 25/ 26: 10-minutes pitches
March 4 – Select finalists
March 11 – Due diligence kickoff
March 18 – Due diligence
March 25 – Due diligence
April 1 – Due diligence
April 10 – Mixer
April 11 – Finale
Weekly meetings are tentatively scheduled for Mondays from 4:00 pm – 6:30 pm. Schedule and details for the signing party, Mixer and Finale to come.
If you are an accredited investor interested in early-stage investment opportunities or experienced angel investors interested in building the capital ecosystem and getting connected with like-minded peers, please contact Thuy Tran, thuy@accelerateokanagan.com or Richard Takai Richard@takai.ca.
