Mon, 15 November 2021
What Is the Mission of the Group?
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In starting an angel group at a university, the key mission of the group is not to make money.
Supporting the university by providing students with a quality academic experience and job placement is the primary goal.
Alumni who join the angel group will see that mission as primary while making money as secondary.
Angel groups with a strong “Why?” will last longer and see less turnover in members.
Those groups who only want to make money will have higher turnover.
They will run the usual course of find a few deals, deploy the available funds, and then wait for the result.
In startup funding, the waiting for the result takes several years.
Most members of those groups will drop out.
It’s important to build the “Why?” into your angel group and make clear through your time and priorities what is important.
Choose a “Why?” that is compelling to your members.
For university angel networks, it’s the student experience that counts.
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