Our Process
Step 1. Candidate companies will submit their business plans (See: Investment Criteria) to the group office or by the group website. Submitting companies will have their funding application and Executive Summary posted to a secured area of the Web Site viewable only by members.
Step 2. Business Plan Screening Meeting - Business plans and materials will be reviewed at the Quarterly Screening meeting made up of the board, attending members and prospective members. Some companies may be contacted by a member of the board to provide additional details. The selected candidates will be assigned a mentor who will notify the selected candidates and alternates of their selection and inform them of presentation requirements for the next step.
Step 3. Company Presentation Meeting - Companies that pass initial business plan screening will work with their mentor to develop handout materials for a meet and greet station (eg Trade show type booth) and a 15-20 minute summary PowerPoint type presentation for presentation to the group along with 1-2 other candidates at a general meeting of the membership. Additional questions and discussion of your company will also be included in this meeting.
**Some companies/deals syndicated from other ACA groups also may present at Presentation Meetings in lieu of another BAN prospect
Step 4. Immediately following the Company presentation and Q&A session, the members will be asked for a volunteer to lead a due diligence group. If there is a volunteer from the membership, that member will be assigned to assemble a committee and lead the due diligence process. Candidate plans not selected by the committee will be open to the group for individual review and members will be free to contact those candidates directly.
Step 5. Due Diligence Process - Due diligence will include general review and verification of company claims and negotiation of individual deal structure and terms.
Step 6. Kick Off - After due diligence is completed, if the committee decides that presentation to the general group is still warranted, a dedicated kickoff meeting will be scheduled. At the kickoff meeting the due diligence committee will present the results to the group and the company will be asked to present a more expanded view with Q&A for about 90 mins. which will kick off the begining of the subscription period.
Recent News
July 26, 2008 - Organized Angels in the ‘Ham (finally) (Musings on Birmingham, Curtis Palmer)
July 25, 2008 - Announcing the Birmingham Angel Network (blog.angelsoft.net)
August, 2008 - Angel Investor Network Launched for Birmingham and Surrounding Region (280 Living)
August 11, 2008 - New 'angel' group hopes to fill city investment gap (Birmingham Business Journal)
December 5, 2008 - Waiting on the Call (Birmingham Business Journal)
February 26, 2010 - Investors seek Alabama 'angel' tax incentive (Birmingham Business Journal)
Thanks to our 2009-10 Sponsors !!!
