In this busy world it can be tough to find that someone special, especially if you’re a business angel sitting on a pile of cash itching to invest in some promising entrepreneur if only you can find one.
Angels Den, a company that specialises in putting investors together with start-ups, has come up with a solution to the time-poor: Speedfunding.
Based upon the idea of the ‘elevator pitch’, the first Speedfund event recently took place in London and saw a host of entrepreneurs pitch their ideas to a number of business angels in one evening.
One successful company was Chop’d, a grammatically problematic moniker for a salad bar chain owned by Jasper Wright. Wright is looking to expand to nine outlets before the end of the year.
“Speedfunding is a fantastic way of meeting business angels in order to pitch my business plan to them in person. After all, a large part of a business deal is seeing whether you can work together. I spoke to each Angel on the night for three minutes and then moved onto the next. This gave me enough time to pitch my plan and maximise how many angels I spoke to.”
In a statement, Angels Den said it came up with the idea because they “recognised that achieving investment for a start-up business is a numbers game. The more investors that entrepreneurs pitch to, the more likely they are to find a business angel that is willing to invest.”