Wednesday, February 7, 2018

Seattle Angel Conference XIII Invites Early Stage Companies to Apply for Funding


Entrepreneurs seeking investment capital have an opportunity to present their early stage businesses to Seattle Angel Conference Investors in an American Idol style program, designed to improve startups and grow more Angel Investors. The 13th Seattle Angel Conference application period runs until February 22nd, 2018. Entrepreneurs interested in applying can find the details at http://seattleangelconference.com/p/entrepreneur_14.html


The program aims to gather 40+ companies and 40 investors who engage over a twelve week period in pitches, reviews, sorting and due diligence. The investors will meet each week until May 15th.

The participating startups will first have their GUST profile reviewed and then the top 24 will be selected for the quarter finals. The QuarterFinalists will be asked to give 3 minute pitches and do a 3 minute Q+A on March 13 or March 20th. The SemiFinalists will be asked to give 10 minute pitches and 10 minute Q+A on April 3rd or April 10th. The 6 Finalists will be selected on April 17th. Due diligence teams will meet with each of the finalists until the final event.

The final event will be on May 16th and is open to the public. Tickets are available at http://sac-xiii.eventbrite.com (all prices for tickets go up on Feb 22nd when the companies apply)


The Angel Conference does not have a sector bias, so any type of growth company is welcome to apply. The companies that have made it to the finals include lettuce companies, Snowboard clothing companies, Fashion companies, Mobile Apps, Battery manufacturers, SAAS companies, Book publishers and many more. Companies that would find a $200K investment as a significant opportunity to reach a critical milestone should consider this opportunity.

The startups should expect to have significant growth, be at or near first revenue and have evidence of progress in their startup. Repeat engagement with the conference is usually helpful for the companies.

A small story of persistence: One engineer left BigCo and had a not-so-great idea. Applied to the conference, made no progress. Came back again, with a better idea. Still no team, still no traction. Made no progress.. Came back a third time, good idea, had a team, still no traction. Made progress, but did not get funded. Came back a fourth time, same good idea, working team, progress with customers , won the event. Now this company is well on the way to being in the top of the portfolio.

The 13th cycle of the conference is being hosted by UW CoMotion Labs. There are two conferences a year, with workshops, office hours, investor meetings, due diligence and a big event in each cycle. Every other cycle is on the Eastside. The founder of the Seattle Angel Conference is John Sechrest, an active investor who supports the ecosystem through the Open Coffee meetings, Lean Startup Seattle and the NW Fund Manager Peer Learning Group. The LLC manager for this round is Allen Niemann. Yoko Okano will be the fund manager for the next round of Seattle Angel Conference.

Seattle Angel Conference is now in its seventh year. The Conference mission is to engage new investors in Angel Investing, teaching Angel Investing by doing Angel Investing. Along the way, each of the startups gets feedback and gets a change to engage with angel investors who are actively writing checks into the ecosystem.

Seattle Angel Conference aims to invest between $100K and $200K into each winner. Over the last 12 cycles, between winners and side investments, there have been 26 investments. These represent efforts of 300 new Angel Investments who invested close to $2.5M into these companies.

Timeline of Angel Conference meetings.

Feb 27 - First meeting/review (Investors Only )
Mar 6 - Select Quarter Finalists(Investors Only ) - select 24 quarter finalists
Mar 13 - 3 minute pitch (investors and Quarterfinalists)  12
Mar 20 - 3 minute pitch (investors and Quarterfinalists)  12
Mar 27 - Select Semi Finalists(Investors Only ) select 12 semi Finalists
Apr 3 - 10 minute pitch (Investors and Semifinalists)
Apr 10 - 10 Minute pitch (Investors and Semifinalists)
Apr 17 - Select Finalists(Investors Only ) Select 6 finalists
Apr 24 - Due Diligence(Investors Only )
May 1 - Due Diligence(Investors Only )
May 8 - Due Diligence(Investors Only )
May 15 - Mixer(Investors and finalists)
May 16 - Final Event (public)  12:30 to 6:30

Startups: Consider applying by February 22nd at http://seattleangelconference.com/p/entrepreneur_14.html

Contact: John Sechrest - Sechrest@seattleangel.com
              @sechrest , @nwangelconf
              http://seattleangelconference.com

Friday, January 19, 2018

Event Schedule for SAC XIII

Each cycle for the Angel Conference, we start with a series of workshops to get the conversations started. You can see the current workshops at http://meetup.com/Seattle-Angel

The deadline for applying for this next round is February 22nd. Our goal is to gather more than 40 companies and 40 Angel Investors.  After we meet the requirements for starting off the program, we meet weekly to step forward with understanding the companies that have applied.



The general program looks like this:

Dates:

Workshops
Jan 9th  - Chris Devore - Ask Me Anything Jan 16th - Pitch Deconstruction - Elaine Werffeli , Javier Soto , Allen Nieman , Jan 23rd - Deal Terms - Lucas MichelsJan 30th -  Getting ready for taking funding - Bill Bryant, David Grampa, Elaine Werfelli, February 1st - Pitch Deconstruction at Riveter Elaine Werffeli ,Javier Soto,David Grampa,Martina Welkhoff, Carlee Price February 6th - Bryan Brewer - Minimum Fundable Company February 13th - Angel 101 -  Milt Sigelman, February 20th - Angel Panel - Alison Shaw,

Deadline
Feb 22 - Deadline for companies - Goal 40+ companies apply , 40 investors signed

Program
Feb 27 - First meeting/review (Investors Only )Mar 6 - Select Quarter Finalists(Investors Only ) - select 24 quarter finalistsMar 13 - 3 minute pitch (investors and Quarterfinalists)  12Mar 20 - 3 minute pitch (investors and Quarterfinalists)  12Mar 27 - Select Semi Finalists(Investors Only ) select 12 semi FinalistsApr 3 - 10 minute pitch (Investors and Semifinalists)Apr 10 - 10 Minute pitch (Investors and Semifinalists)Apr 17 - Select Finalists(Investors Only ) Select 6 finalistsApr 24 - Due Diligence(Investors Only )May 1 - Due Diligence(Investors Only )May 8 - Due Diligence(Investors Only )May 15 - Mixer(Investors and finalists)

May 16 - Final Event (public)  12:30 to 6:30 

The Entrepreneurs who make it all the way to the finals will have been reviewed several times:

  1. A review of the Gust.com profile by all the investors and then stack ranked to select the quarter finalists
  2. A 3 minute pitch on either March 13 or March 20th  , with a selection of Semi-finalists on March 27th 
  3. A 10 minute pitch on either April 3 or April 10th , with a finalist selection on April 17th
  4. Then there will be 4 weeks of due diligence, arranged between the due diligence team and the startup. 
For Entprepreneurs who have all their financial and due diligence documents all gathered , a pitch deck put together and practiced, there will be somewhere near 15 hours of work over the course of the program engaging with the due diligence teams.  For those companies which have not put everything together, they will have more work to do. 

For Investors, a couple of the workshops can be helpful , like the Angel 101 workshop. And we recommend getting the book "Angel Investing" By David S. Rose. 

For those people who join into the program as participating investors, they will be spending 40-60 hours over the course of 12 weeks to learn more deeply about the companies and to select the final winner of the program. 

It is not required for a participating investor to attend all of the meetings. It certainly is the case that you get out of the process what you put into it. So regular engagement makes all the difference. 

People who want to attend the event or to be a presenting company should buy a ticket at http://sac-xiii.eventbrite.com


The Winner of the Seattle Angel Conference XII is Latchel

The winner for the 12th Seattle Angel Conference was Latchel , property maintentence made easier - Latchel.com

The process of selecting the winner of the conference involves a large amount of engagement between the prospective companies and the participating investors. There is paperwork to gather for the due diligence process, interviews , pitches and Q+A sessions to help everyone come to a deeper understanding of the opportunity.

You can see the final pitch at the conference for the Latchel here: https://www.microsoft.com/en-us/research/video/seattle-angel-conference-xii-pitch-4-6/

A deep thank you to Microsoft Research for sponsoring the Seattle Angel Conference XII process. It made for a great program.