Calling All Iowa Angel Investors

I'm getting closer to pulling the trigger on www.CentralIowaAngels.com.  I've been casually surveying and vetting the concept of an organized Angel network that provides:

1. Frequent pitch meetings with qualified angel investors on a regular schedule.
2. Angels that understand not every idea is worthy of funding...but recognizes ideas that don't fit this group's profile may have application elsewhere. 
3. Angels that understand the value in people even if their ideas are deemed unfundable.  Perhaps someone pitching a tech idea as a CEO would be a perfect fit as a technologist somewhere else.
4. Angels that bring connections and expertise to the table since this is typically the most important factor in the funding equation.  Writing a check is easy.  How to spend the money isn't.
5. Angels that understand and embrace the concept of risk capital not as guaranteed as humanly possible forcing the nascent firm to jump through myriad hoops to get governmental grants, incubation, and other string laden funding...capital.
6. Angels looking to fund small prototyping/proof of concept deals ranging from $25k-$100k to quickly inject life into ideas here in Iowa that end up funded as $3.5 million deals in larger cities 12 months later, in addition to larger deals.
7. Angels that understand that Iowa's startup climate is tremendously under served.  There are countless entrepreneurs toiling over solutions that are fundable and profitable business models waiting to emerge...if only...

Do you have more items you'd like to add to this list?  Please either add them in comments or email me personally. If you're interested in helping me put this together, please contact me via email at doug AT mitchgroup.com. 

Also, please forward this onto perspective Angels and companies seeking funding if you don't mind.  I'd like the input.

**UPDATE**.  Wow.  The flood of interest and new twitter followers is amazing.  This is further reinforcement that this idea is sound.  More to come.

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Comments

[Andy Brudtkuhl]

Here's to hoping this post stirs the pot a little...

[Chris Punke]

Nice! Really impressed to see you taking this forward. Feel free to hit me up anytime for help.

[Mike Templeton]

I'm not entirely familiar with the business financing community in Des Moines, but this seems like it can only mean good things for local entrepreneurs.

As we continue breaking down barriers with #dmtweetups, Central Iowa Blogger meetings and #dmbarcamps and formulating new ideas, the next logical step will be finding the funding to push these ideas forward.

Best of luck with this venture and I'll be excited to see things start happening.

[Rush Nigut]

Doug:

As we have discussed this is a great idea. Entrepreneurs don't have the time to wait for government funding in this state. Besides the state is too busy funding companies that don't need the money but expect handouts in order to locate or maintain operations here.

Keep pursuing this dream.

Rush

[evbart]

Sounds like you have set some good objectives. Are you an investor as well?

Make sure to get some investors involved as early as possible, because you're going to need some powerful personalities to build a thriving group.

Next, I would look to the ACA for other tips on how to get started. http://www.angelcapitalassociation.org/ Its a tough task, but there are lots of people out there willing to share their ideas on how to do.

Last, you're going to need some infrastructure to do this, and if you're into collaboration tools, then you should check out angelsoft.net (full disclosure, I'm part of the angelsoft team).

Best of luck!