Archive for December, 2011

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Joshua Baer

Joshua Baer

Could your startup use $20,000 in seed capital? Mind spending 10 weeks in Austin? If so, Joshua Baer is someone you’re gonna want to know better!

Joshua’s the Managing Director of Austin’s Capital Factory, a seed-stage mentoring program. Startups must apply and out of the hundreds that do, 5 are selected. Each receives $20,000 in cash, $20,000 in stuff and, best of all, the attentions of 20 mentors over the 10 week program.

Since angel fundings are down, wouldn’t most investors be suited to returning to the roots of what it means to be an angel? Can you picture a Capital Factory franchise in your neighborhood? What if you could organize those risk-averse investors and get them involved with a structured mentoring program like Joshua’s? What could it mean to your local innovation economy?

Entrepreneurs, you better apply quickly…

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Mike Napoli

Outgoing Chairman Mike Napoli sent around a summary of the investing year at Tech Coast Angels. His email described a lot of good news.

Season’s greetings to all TCA members.

As 2011 comes to a close I would like to provide you with some TCA highlights from this past year.

We have increased our metrics by all measures!

At the beginning of the year we had 257 members. We are closing the year out with approximately 304 members. That’s an amazing increase. I must note that the San Diego Network has 104 members of that total. Congratulations San Diego for crossing the century mark!

Another whopping increase occurred in the number of funding applications to the TCA website. 2011 saw 1004 applications vs. 603 in 2010. I attribute some of the increase to the revised and shortened funding application and the heavy volume of networking activity across all Networks.

A few more numbers: (not final yet – we will have final numbers by the end of January)

In 2011 we funded 29 deals (15 new + 14 follow-on) for a total investment amount of approximately $30 million.

Number of new deals:
2010 – 11
2011 – 15

Dollars invested in new deals:
2010 – $6.2M
2011 – $7.1M

TCA members have invested in 187 deals since the inception of the TCA, with $116M coming from TCA and $1.4B total (including VC’s and other investors).

There were significant accomplishments in many other areas as well during 2011:

  • Our “Deal Syndication” efforts both inbound and outbound were greatly enhanced
  • The “Industry Specific” pre-screening panels continue to improve and are speeding up the processing of funding applications. We are getting entrepreneurs into the right hands at the TCA much sooner in the process than before.
  • Successful fund raising and closing of the ACE Fund
  • Development of new TCA website (due to be released in Q1 2012)
  • We now have a process in place for “Seed Track” companies
  • Increases in both PR and Marketing activity
  • Increase in Networking events

I was able to meet with several angel groups outside of California this year and I will tell you that our reputation across the country with our peers is stellar. Being the largest and one of the most well respected angel groups in the U.S. has many of the others wanting our advice on a variety of issues. Thanks is due to all TCA members and your involvement in TCA activities that help improve the reputation of our brand. It greatly helps the quality and quantity of our deal flow and syndication activities.

I would like to give a special thanks for the many volunteer hours put in by the TCA Board of Directors, Executive Committee/ Board members at the Networks, Deal leads, Pre-screeening panel leads and members, Quick/Fast Pitch volunteers and the other that gave of their time to keep the TCA in the limelight as one of the best in the country. Also thanks to Kim, Robin (Linda, Mark and Oliver in SD), Renee and Kate for keeping it all together and running efficiently.

Please support Steve Flaim (SD) our new TCA Chairman for 2012 as we continue to address our challenges, improve and grow.

Wishing you all the best in the coming New Year!

Cheers!

Michael Napoli, Chairman
Tech Coast Angels, Board of Directors

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Kirsten Mangers

In Los Angeles, socalTECH reported the shut-down of WebVisible. Wince with me: the company had raised $37M from venture capital. I interviewed co-founder Kirsten Mangers in July 2008.

 
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Ash Kumra


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A story of a local boy, made good. I’ve known Ash for many years; we’ve both traveled some of the same circuits. Today he shares his story of building companies, plus the work he’s doing to spread the word about entrepreneurship.

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I’ve noticed a lot of good commentary recently at the Gust blog.

Check out this recent post: A Startup’s First Steps – What’s in a Name?

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at IdeaFunding in Tucson

Bob Morrison asked if I would come and speak — it was months away so it was easy to say yes. During the intervening months I would occasionally flip the calendar and see this pending trip to Tucson and each time I would enjoy indulging in the quandary:
What would I talk about?

Even as recently as last month when El Tour de Tucson brought me back for the epic 29th year of this Century ride; I knew I’d soon be returning but that’s where my anticipation lingered — I wasn’t procrastinating, but enjoying some premonition that as the time approached the speaker in me would arrive.

Last month I sat on a panel in Los Angeles; the topic was “Getting the Word Out”. Easy for me. The audience: bike advocates. Since I’ve seldom addressed the cycling world I did prepare in advance and worked well into the late night hours to refine my thinking, to deliver a crisp message. And out of this weekend in Little Tokyo came a new template which as the run up to Tucson couldn’t be avoided any longer, found new life in a new talk: “Staying Relevant in Retirement”.

from "Staying Relevant in Retirement"

As I often do, the first half of any talk is used to engage the audience, to share a few laughs, to knock them off balance for what will come next. I get invited to these events because of theFrankPetersShow which has consumed the past 6 years. I’m approaching 360 interviews and although I lament how few listeners I hear back from, it’s these conferences that get me in touch with my audience. “Your famous,” the greeting as I pick up my name tag is quite enthusiastic. I’ve learned to take it in stride.

I start counting — How many visits to Tucson over the past 5 years?

Whatever the trip count, I know many of the Desert Angels. Bob Morrison roped me in when he was first organizing the SW Regional Angel Summit; it’s brought me back each Spring since. Curtis Gunn’s a long time listener, now DA President for two years; we recently pal’d around in Puerto Rico. We’ve biked Tucson Ciclavia together and El Tour separately. Curtis arranged an introduction to Richard DeBernardis, the man behind one of the oldest and most successful fund-raising bike rides in the country. Sharing Richard’s life story on my cycling blog was a giant step to attracting more listeners in that universe.

Desert Angel President Curtis Gunn and Tucson VC Harry George share the stage

All these thoughts: the travel, the bike riding, my new found interest on leaving the world in a microscopically better state than when I found it are the themes that throb through this current phase of life. It would be easy to share this sentiment and find common ground with this equally gray-haired group, who I suspect are similarly motivated to leave some long term impact for the greater good.

So “Staying Relevant in Retirement” seemed a suitable title for this Tucson talk. I would be invited to sit on two panel discussions at this IdeaFunding event, then be dinner speaker, too. This opportunity to contribute, to share a few pertinent ideas — as I awake the day after I realize, like a self-fulfilling prophecy, I am staying relevant in retirement just by being here.

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