What Is the Mission of the Group?
In starting an angel group at a university, the key mission of the group is not to make money.
Supporting the university by providing students with a quality academic experience and job placement is the primary goal.
Alumni who join the angel group will see that mission as primary while making money as secondary.
Angel groups with a strong “Why?” will last longer and see less turnover in members.
Those groups who only want to make money will have higher turnover.
They will run the usual course of find a few deals, deploy the available funds, and then wait for the result.
In startup funding, the waiting for the result takes several years.
Most members of those groups will drop out.
It’s important to build the “Why?” into your angel group and make clear through your time and priorities what is important.
Choose a “Why?” that is compelling to your members.
For university angel networks, it’s the student experience that counts.
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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.