Self assessment
Before submitting your business plan for our consideration, you must determine if angel capital - and specifically capital from our group - is right for your company.
Online application.
Our business plan application is designed to extract the most important details about your business, so our internal review committee can decide if your company should:
-Comes from members or directly to the BAN submission web site
-Formal application and screening process
Key criteria for deal review
-Baylor friends and family
-At least prototype product/service offering
-In discussion with customers and have roadmap to customer signings
-$250,000 maximum request (10% of targeted syndicate total)
Screening meeting.
After reviewing your business plan, our internal committee will determine if your idea could be of interest to our members. If you succeed, you will be invited to present to the full membership. Be prepared to deliver a 30-minute investor presentation and answer questions posed by this group for an additional fifteen minutes.
Screening criteria includes
-Total funds to be raised
-Use of funds
-Management team capability
-Size of market
-Competitiveness of product/service
Assignment-one deal per BAN member to work with company to include
Summary of all deals posted on-line in Angelsoft
After deal reviews, vote taken to choose presenting companies
Presentation to membership.
Investment meetings - four times per year in Waco, Houston, Austin, Dallas
3-5 companies make presentations
- Problem the company solves
- Product/service offered
- Competitive advantage
- Target market
- Business model
- Management team
- Competition analysis
- Revenue growth
- Profit projections for five years
- Funds sought and use of funds
Deal Presentation Followup
- Members determine the specific interest in a deal and sign up
- Lead BAN member assigned to negotiate initial term sheet
- Begin due diligence
- After due diligence, lead BAN member with consent of the interested BAN members, renegotiates terms
- Lead BAN member invite interested BAN members to make an investment
Due diligence.
During due diligence, interested investors will verify the statements made in your business plan, presentation, and financial projections. They will thoroughly research your team background and track record. If you play an active role in facilitating this process, it will help to expedite a final investment decision.
Term sheet negotiation.
After successful completion of the due diligence process, interested angel group members will present a term sheet that defines the structure of the investment deal - including type of equity and board of directors representation, using industry standard terms and provisions.
Funding and Beyond.
When all parties are satisfied with the terms and language contained in the term sheet, the deal can be executed. But remember, closing the deal is only the beginning of the angel funding process. Now you have access to a network of value-added contacts and experienced professionals who can provide essential guidance for the growth and success of your venture. Adhering to the responsibilities at this stage will enable you to get the most from your angel relationship.