On November 30th, TiE Boston proposed a new program “TiE Angles” with a mission of further fostering entrepreneurship by creating start-up companies, bridging the gap between innovative entrepreneurial ideas and successful start- ups, significantly enhancing visibility of TiE-Boston in the New England community and providing additional benefits to members to invest in fast-growing start-ups.

Kanwal Rekhi was the keynote speaker for the evening. “Angel Investing is by and large a bet on the entrepreneur,” said Rekhi. Angel Investing is typically in the range of $50-250K. However, it is the added value beyond the direct investment that angel investors bring that is most important. Angel Investors are typically experienced entrepreneurs who have surplus money and are willing to lose it all for a thrill of a big bet. “Supreme confidence that their advice will make a difference, exploring pet theories and pushing the envelope are what motivates angel investors.”

On the other hand, entrepreneurs typically have strong domain experience and competence, passion, drive and conviction to succeed, learn quickly and adapt but lack business experience.

“Finally Angel Investing is a very risky business where passive investing rarely works. It takes a lot of work to get a company VC funding ready and most angel investors don’t have the staying power,” said Rekhi.

As part of the program, the requirements for the entrepreneur are:

Early stage funding, generally up to $500K, but can syndicate up to $2 mil
Preference for priority sectors:
Mobility, Internet, Software and infrastructure, Bio Sciences, Clean Tech, Financial Services/Real Estate, Retail, and other sectors
No prior venture money
Have not submitted a plan in prior 12 months
Geographically, invest anywhere (but would prefer New England area)
TiE Angels will not sign any NDAs with entrepreneurs

For further information, contact TiE Boston at 781.272.3875.

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