August 2005
Pitch-er Perfect: The Alliance of Angels Holds Its First-Ever 10 Minute Pitch Clinic for Entrepreneurs
Since 1999, the Alliance of Angels program managers have helped entrepreneurs seeking angel funding to navigate the AoA process and assisted those companies selected during the screening process to prepare for their presentations to the full AoA membership. Along the way, they have amassed considerable knowledge of what resonates with angel investors and pitfalls to avoid when pitching a business plan to AoA members. Now, the program managers are sharing that knowledge with entrepreneurs in an interactive workshop, the AoA 10 Minute Pitch Clinic. Tickets for the first such clinic, which was held on Tuesday, August 2nd in Seattle, sold out.
AoA has traditionally hosted educational events targeted at investors. While these events have always been open to others with an interest in the topic, the 10 Minute Pitch Clinic is the first educational event organized by the AoA that is specifically tailored to entrepreneurs seeking angel funding.
"AoA receives hundreds of business plans from hopeful entrepreneurs each year, but only a fraction progress through the screening process to receive one-on-one attention from us," notes program manager and 2004-05 Preston Gates & Ellis Fellow Aaron Coe. "AoA program managers can't meet with everyone who submits a business plan, but we have valuable insight into what makes a good pitch that would benefit many entrepreneurs who are thinking about or actively seeking angel investment. The desire to share this knowledge with the entrepreneurs that we typically don't reach led to the creation of the pitch clinic."
The workshop is divided into two parts. To begin the clinic, the program managers provide an overview of the AoA program and discuss best practices for pitching a business plan to potential angel investors. The remainder of the workshop is devoted to answering questions and working with participants on their specific messaging.
"Entrepreneurs have a very small window of opportunity in which to tell their story to potential investors," observes program manager Edward Hansen. "Our hope is that, as a result of the clinic, they will hone their message so when they do present their plan to angels, whether at AoA or elsewhere, they are making the most of the opportunity and improving their chances of securing investment. And from an angel perspective, a clinic that encourages more concise, effective presentations by entrepreneurs could only be a positive development."
In order to facilitate the interactive nature of the workshop, attendance is restricted to 20 people. AoA plans to hold additional pitch clinics in the future. For more information, visit www.allianceofangels.com.
Flying High: Miniature Aircraft Developer The Insitu Group Named 2005 Alliance of Angels Startup of the Year
Last year, the Alliance of Angels initiated its annual Startup of the Year Award recognizing an early stage technology company that exemplifies the spirit of entrepreneurship in the Pacific Northwest. At this year's State of Technology Luncheon, The Insitu Group soared above two other finalists to take home the 2005 honors.
The Insitu Group pioneered the development of long-range, unmanned, miniature aircraft used for reconnaissance, meteorology, and other applications. Its Seascan aircraft is designed for aerial reconnaissance at sea - for example, in coastal patrol or search and rescue - at a fraction of the cost and risk to human crew associated with manned helicopter reconnaissance.
How Well Is Washington Competing in the Technology-Based Economy? The Technology Alliance Revisits Our State's Competitive Scorecard in Education, Research and Entrepreneurship
In 2003, the Technology Alliance released its first study benchmarking Washington's performance in the three recognized drivers of successful technology-based economies: excellent education systems, strong research capacity and a robust entrepreneurial climate. We measured Washington against eight peer states with technology-intensive economies - California, Colorado, Georgia, Maryland, Massachusetts, Michigan, Texas and Virginia - and found Washington strong in some areas but lacking in a number of key indicators. This year, the TA reexamined selected metrics and shared the new data at our State of Technology Luncheon. The TA will release its second comprehensive benchmarking report in spring 2006.
Get Your Monthly Helping of Science & Technology for Breakfast - Register Now for the 2005-06 Season of Our Popular STRT Program!
An exciting new season of the Science & Technology Roundtable (STRT) will commence on Friday, September 9th with a presentation by Clifford Mass, Professor of Atmospheric Sciences at the University of Washington and weather forecasting regular on KUOW 94.9 in Seattle.
The STRT program brings the best and brightest from our research institutions and innovative companies to our members. Since 1997, leaders from business, education and research institutions, and government have convened at STRT to hear presentations on cutting-edge topics in science and technology in an intimate setting.
Read more and register online!
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