Starting up a business is challenging. Plains Angels is an initiative that assists entrepreneurs with mentoring, investment opportunities, raising capital, networking and event opportunities and more. Executive Director Mike Colwell advises many startups in the community free of charge.
Prospective entrepreneurs looking for funding can apply here. After the initial application, Plains Angels will use the following process to review applications:
- After application, a quick screening process will determine if your company is within investment profile for Plains Angels. If so, you will be contacted by the pre-diligence team to get your documentation to schedule a presentation to Plains Angels.
- The pre-diligence team assists you in aggregating the data required to present to the group. Plains Angels meets monthly to review applicant presentations. If there are multiple companies contending for the presentation slots at the monthly meeting, the investors themselves will vote on which two will present. If you are not asked to present in the first month following your application acceptance, you may be asked to present the following month.
- Once selected, entrepreneurs present to the Plains Angels at a monthly meeting. After your presentation, the level of investor interest is determined. You will present for 15 minutes with an additional 15 minute of questions and answers with the assembled investors. We ask that you use the Plains Angels Investor Presentation Template for your presentation.
- You will be contacted by a member of Plains Angels to discuss next steps, depending on each individual opportunity. If there isn't sufficient interest in proceeding, Plains Angels will provide the group's feedback to the presenting companies, which is important to growing companies seeking capital.
- If there is interest in proceeding further, one or more investors will work with you to perform due diligence and discuss possible investment options. This may take weeks or months depending on the complexity of the company, the amount of capital being requested and the investors involved.