Spend a few months paying attention to politics in Philadelphia, and you’ll likely hear the term “pay to play.” Turns out, the same can be true for local venture capital.
Created by Mahalo and Weblogs Inc. co-founder Jason Calicanis, the Open Angel Forum is an answer to pay-to-pitch events that often charge startups and small businesses hefty fees for the privilege for pitching a group of venture capitalists and angel investors. And, after stints in the 67th Ward, Boston and other cities, the Open Angel Forum is coming to Philadelphia.
Duck Duck Go founder Gabe Weinberg, the organizer of the Philadelphia Open Angel Forum says that five to seven companies will get the chance to present to an impressive group of angel investors that include:
- First Round Capital partner Josh Kopelman
- Hot-or-not founder Jim Young
- Invite Media founder Scott Becker
- Dreamit Ventures partner Steve Welch
Startups will have ten minutes to present, five minutes to demo and five minutes of question and answer with angels. According to Weinberg, the typical Open Angel Forum investment typically ranges from $250,000 to $1 million.
If you think your company can swing it, you better hurry. Applications for startups to pitch at the Open Angel Forum close today.
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