Mar 25 2024 58 mins
Often, entrepreneurs embark on their journey with a brilliant idea they believe addresses a pressing market need. But turning that idea into reality requires more than just ingenuity; it demands funding. Today, we'll delve into the world of startup funding, exploring the strategies and challenges entrepreneurs face as they seek the financial support necessary to bring their innovations to life.
I'm your host, Kevin Blevins, and joining us today is Sanford Wollman, or Sandy, an ACA (Angel Capital Association) board member, Director of the Syndication Committee, and the co-founder and Managing Director of Westchester Angels.
In this episode, Sandy provides valuable insights into what startups need to know from the initial stages of pitching to navigating due diligence to attract angel investment. We will also explore the collaborative nature of the angel investing ecosystem, the importance of finding the right angel group, and the role of organizations like the ACA in facilitating connections and providing educational resources for entrepreneurs.
What You’ll Learn in This Episode:
- Sandy’s entrepreneurship, business failures, and personal growth. (6:03)
- The dynamics and characteristics of the angel investing ecosystem (22:36)
- How the ACA works with angel groups to help startups raise money easier (28:33)
- How the ACA streamlines the investment process for angel groups (35:43)
- The "pizza lunch test" and its significance in the angel group. (41:14)
- Siemens partnership with the ACA (44:26)
- Advice for entrepreneurs. (47:28)
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