Thu, 28 October 2021
Setting Membership Criteria
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In setting up an angel network, you need to determine the membership criteria.
Here are some points to consider:
The Securities and Exchange Commission or SEC sets the investor criteria to allow for investments into startups.
Members must meet the SEC criteria for accredited investors.
Make clear the goals of the group, whether supporting the local entrepreneur ecosystem, fostering a new technology, or educating the community.
The “why” of the group is as important as the “what to invest in” question.
In the university angel group setting, the “why” is typically focused on student experience and job placement.
Making a return on investment is also important but typically not the number one goal.
Also, connecting investors to one another is a goal many angel groups have.
Consider the “why” of your group and communicate that to prospective members.
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