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If you are an emerging company with the next excellent product, at times you require an angel on your side.
A study by the University of New Hampshire's Center for Venture Study showed that "angel investors" - high-net-worth folks willing to invest in entrepreneurial businesses at an early stage - shelled out far more than $18 billion into early-stage firms last year alone, compared to $304 million by venture capitalists.
Discovering an angel investor, however, is not an simple task. Safer Smokes Inc. is one particular organization that understands the challenge of attracting the appropriate investors.
This development-stage organization is tapping the smoking cessation industry with a unique tobacco-free of charge, nicotine-totally free smoke known as Bravo, which has the look of a conventional cigarette and burns like tobacco, but is really created from lettuce fibers.
"Bravo lets you smoke your way out of the tobacco habit progressively," mentioned Puzant C. Torigian, chief executive officer of Safer Smokes.
For companies like Safer Smokes, it could be too soon to approach significant venture capital firms, yet time to move beyond networking with family and pals. Angel investors to the rescue.
"The challenge for raising capital in today's marketplace is in harnessing the courage and vision of the angel to see through to the actual investment chance," mentioned Torigian.
So how do firms like Safer Smokes attract their angel?
* Have a clear-cut target industry for your product or service. For instance, Safer Smokes is targeting the smoking cessation market, which has sales approaching $10 billion per year, up from $6 billion just three years ago.
Most angel investors prefer organizations that are most likely to show positive cash flow within their initial 18 months, so having these kinds of statistics about your market place can be an incentive.
* Match the enterprise program objectives to the angel's danger tolerance. Investors want to know the item or service will be exclusive and well-cultivated. Safer Smokes has a patented resolution that company officials say will "affect the landscape of the well being care market." [http://www.ideaangels.com/ company formation]