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Angel Pitch an entrepreneur matching agency

TechCrunch recenly carried an article on Angelpitch, a new start-up hoping to bring business angels and entrepreneurs together by creating a video conferencing matching service. Visit TechCrunch (Sam Sethi) for full article. Below is an extract plus my own take on VCs and business angels.

One of the hardest things to do in the UK is to raise seed capital to get your new startup idea going. If you want to raise £1m+ it’s probably easier to find VC’s who are prepared to invest in you. If you’re interested in becoming an Angel in this network, please email them a brief resume. Alternatively if you are an Entrepreneur who wants to get on the list early (before the submission site is built) you can email them a two page Executive Summary and they will review these and start the ball rolling. Will Angelpitch work? I am not sure just yet as the $150 fee feels like a barrier to me but I would love to see a YouTube like video site where entrepreneurs pitch their business and Angels watch to find companies and entrepreneurs they like.

ebdex has been in catch 22 with VC and business angel funding from the start. We have found raising bank loans easier than raising VC/angel funding. I am interested in seeing how the Angelpicth develops. But $150 entry fee is too deep for a new site without any track record.

NW Start Up 2.0 inaugural event will give Paul Christian, who runs AngelPitch another opportunity to test his ideas, perhaps in a part of UK, not that well known for entrepreneurship. I am trying to change that.

Most of the VCs in the North West are ex-bankers. Most of the advisers (Business Link) are also ex-bankers (of NatWest). It’s a risk averse world out here. I am yet to meet anyone out in here who really encourage entrepreneurship (of course except you Mr. Treloar – you are passionate!). Perhaps this is the NW. Or perhaps its me!

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  • Thanks for the coverage Manoj, and I will make every effort to attend your event in Manchester. We have decided on your (and other) feedback to drop the $150 fee to the Entrepreneur. We are simply keen to get some business going between people with good ideas and those who wish to fund them.

    It’s interesting your comment amount most VC’s being ex-bankers who appear to be risk averse.

    In my mind there a few factors causing a change in the funding scene. Firstly, great applications can be created at substantially less expense than in the past with the advent of tools like Roby and Ajax etc. Secondly, high levels of exposure to the end-user market can be achieved at less marketing cost than in the past given the high readership of blogs. And because of factors such as these, there is less risk attached to well managed bright ideas, and therefore less capital required to raise their chance of success (guarantee their success is probably too strong a word in this instance).

    I would hope that given the service we are offering, a different type of Angel might join our investor pool. We’re hoping to attract people who have made it in the Web App world, and who can back good ideas with the cash required and also (extremely importantly) the relevant business experience.

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  • Thanks for the coverage Manoj, and I will make every effort to attend your event in Manchester. We have decided on your (and other) feedback to drop the $150 fee to the Entrepreneur. We are simply keen to get some business going between people with good ideas and those who wish to fund them.

    It's interesting your comment amount most VC's being ex-bankers who appear to be risk averse.

    In my mind there a few factors causing a change in the funding scene. Firstly, great applications can be created at substantially less expense than in the past with the advent of tools like Roby and Ajax etc. Secondly, high levels of exposure to the end-user market can be achieved at less marketing cost than in the past given the high readership of blogs. And because of factors such as these, there is less risk attached to well managed bright ideas, and therefore less capital required to raise their chance of success (guarantee their success is probably too strong a word in this instance).

    I would hope that given the service we are offering, a different type of Angel might join our investor pool. We're hoping to attract people who have made it in the Web App world, and who can back good ideas with the cash required and also (extremely importantly) the relevant business experience.