Sorry for the delay in posting – I’ve been at what I heard was the largest venture fair east of the Mississippi. It was my first time at something like this. Very enlightening.
Over 100 companies asking for money. 25 in “late state” meaning they had revenue of over $1million and the rest “early state.” The industries ranged all over the map. A medical device to cool spinal fluid and reduce paralysis to a replacement for terazzo tile made with recycled glass. There was a portable solar hot water heater and an online video game for women.
All of what I saw was well thought out and most was well presented. All were past the “just an idea” stage – at least a prototype and some had been in business for 10 years and were raising money for the next stage of growth.
It’s the 13th annual one that this group put on. The concensus was there were not enough investors there – perhaps it’s gotten so popular nobody goes there anymore. It also seems that Connecticut is behind the curve in organizing investors at the angel level (where I play). That may have something to do with it. I heard that nation wide in 2005 angel investors put up the same amount of money as VCs but they put it into 49,000 deals where as VCs funded 3,000 (not sure those numbers are exact, but the scale is).
I found 3 companies that look interesting. Not sure I’ll put money into any of them but I’ll continue my research. Mostly I made some good connections for a company I’m working with and with some other investors to learm more about how this game is played.
I’ll keep you posted.
