Antonio Tedesco and I held the first Open Angel Forum Philly in March. We're calling it a success as investors want to come back and companies were offered funding.
That's why we are proud to announce that we're making it a regular event and OAF Philly II will be held on the evening of Sep. 20th (again at Morgan Lewis).
If you are involved in a startup that is looking for seed funding, please apply (there is no charge to apply or attend if selected): http://ye.gg/oaf
For those of you not familiar with Open Angel Forum, the idea is to get the best regional angel investors in a room and put 5-7 great startups in front of them. We hope it is a funding powder-keg.
We should have an awesome group of investors attending, just like last time. If you are an angel investor in the mid-atlantic region and want to come, please let us know.
We're also looking for a few sponsors.
Here is what we're looking for with regards to startups:
- US companies. You do not need to be associated with Philly. In fact, last time we had companies from Austin, NYC, Minneapolis and Chicago, in addition to Philly.
- Working demo, preferably already launched with some engaged users. The event format is a five min demo followed by a five min Q/A followed by networking. It's not a traditional pitch event with slides, so a working demo is essential.
- Products matching our investor preferences. Our goal is to get you funded, and to do that you can't look too different than things our angel investors generally invest in. This generally means software of some form.
- Terms matching our investor preferences. Same as above, our angels are looking for good deals. This generally means reasonable valuations and seed rounds (essentially first money in).
Here is the process:
- We're accepting applications for OAF Philly II through Fri August 26, 2011.
- Antonio and I will then go through and select the companies that fit the above criteria.
- We will then try to hold Skype demo sessions with all those companies. Last time that was about 25 startups. We may involve some other angels in this process.
- We will then extend invitations until the six slots are filled. We're aiming to do that by Sep 12th.
Feel free to ask questions in the comments, and I'll do my best to answer.
And apply already! http://ye.gg/oaf