SpringStage Angel Entrepreneur Group

(new name needed)

Format:

• Quarterly Meetup - where we review current market conditions for angel investments (i.e. what is market for deals), recent deals (i.e. with as much clarity as possible) and guest speakers (i.e. famous or successful angels giving tips and advice).  There may be a reason to create two 'tracks' for the meetup as some material might be more interesting/appropriate for angels or entrepreneurs. 
• Investment Mailing List - where we announce startups (i.e. investments) who are interested in pitching to the group.  All interested parties (i.e. all angels and entrepreneurs) would receive the notice of a company interested in pitching.  Everyone would be required to vote yea or nay on whether or not they should be brought into the system.
• Periodic Meetup (held based on startups who are ready to pitch) - held between 1-3 times per quarter for startups who have been mentored by a member angel. 

Membership:  All new members should complete an application that is reviewed by the membership committee at either a quarterly or periodic meetup.  The goal is to ensure the group has an appropriate angel to entreprneur ratio. 

• Experienced Angel - specification given to angels who have made one or more angel investments with a startup in the last 18 months (we will verify investment through conversations with startup).
• Novice Angel - specification given to angels who have not made a recent angel investment, but who are interested in making an investment (must be accreditted investors) between $10,000 and $250,000 in a local startup.
• Entrepreneur in Residence - specification given to entrepreneur who is interested in helping member startups (i.e. guys like Alex and Brad).  These individuals may be able to assist entrepreneurs with in-kind assistance. 
• Alumni Entrepreneur - specification given to entrepreneurs who have previously pitched to the group.  These individuals may be able to assist new entrepreneurs present to the group.
• Presenting Entrepreneur - specification given to entrepreneur who is preparing to pitch to the group.  These individuals have been assigned either an experienced or novice angel who will serve as their mentor through the process. 

Mentorship Process: Each application to present will be distributed to all members via the Investment Mailing List.  All members agree to either offer to be a mentor (if you have an interest in the space from an investment standpoint) or offer their opinion of whether or not the group should invest time in a particular entrepreneur, deal or space.  Mentors should spend 2-5 hours with their startups each month.  Once a mentor has been selected they will make contact with the entrepreneur (and his team) and schedule a meeting.  The idea is to meet at least three times prior to scheduling their pitch to the membership.  First, the mentor must determine what is missing and help the entrepreneur put a plan in place to fill the gaps.  This may require several meetings, conference calls or emails.  Once the mentor is satisfied that all the major gaps have been filled or at least the entrepreneur has good answers he should schedule a run through of the entrepreneur's presentation.  If the entrepreneur is ready to present, i.e. he has a likihood of getting an investment from one or more members of the group he should get his startup on the schedule.  If the startup or entrepreneur is NOT ready he should consider a) if they will EVER be ready or b) what would it take to get them ready.  It is the mentors decision to continue working with a particular startup.  If they are not interested simply let everyone know and see if someone else is interested in taking over.