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Where VCs & Angel Investors Think 2017 Investment Money Will Go

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November 14, 2016


Executive Q&A Ashok Kamal, Executive Director of Tech Coast Angels

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November 10, 2016


Tech Coast Angels Quick Pitch as Podcast

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October 26, 2016


UC San Diego Alum goes from von Liebig to Tech Coast Angels

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Demonstration Derby for Startups

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October 16, 2016


Angel Returns Superior to VCs

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October 13, 2016


ResortPass, Echo Labs, CourseKey, InSpirit, Braykion—Tech Coast Angels Quick Pitch

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October 12, 2016


Tech Coast Angels MIT / Harvard Report: Angel Returns Superior to VCs

Tech Coast Angels today shared insights and comments regarding a recently published paper by Professor Josh Lerner of the Harvard Business School and Professor Antoinette Schoar of the MIT Sloan School of Management, which explores angel investing, its importance, and its contrast to venture capital. 

The paper, titled “Rise of the Angel Investor: A Challenge to Public Policy,” analyzed the detailed, deal-level data of two key angel networks (Tech Coast Angels (Southern California) and CommonAngels (Boston area)) to “differentiate the different channels by which angels might affect the success of the firms they invest in.” 

The authors noted a clarity of emerging patterns from their analysis: 

  •     interest levels expressed by angels in deals were a substantial factor in funding decisions; 
  •     when firms that received funding were compared to those that did not within a narrow quality range, “the funded firms overall look more successful than those that pitched to the angel group but did not receive it: They were 20%-25% more likely to survive for at least four years. They were also 9%-11% more likely to undergo a successful exit (IPO or acquisition) and 16%-19% more likely to have either reached a successful exit or grown to 75 employees by the end of our sample period. Funded companies had 16-20 more employees as of 2010, were 16%-18% more likely to have a granted patent, and are growing faster as measured through web traffic performance;” and
  •     “…funded companies were better financed. Overall, they had a 70% higher likelihood of obtaining entrepreneurial finance and had, on average, a little less than two additional financing rounds. These subsequent deals are often syndicated by the angel group with other venture financiers.”

“Tech Coast Angels has the benefit of over 300 members, each with a lifetime of diverse experiences and expertise,” said John Harbison, chairman of Tech Coast Angels. “Our angels put a lot of effort and attention into the due diligence process as well as the post-funding mentoring of the companies we fund. That experience and expertise helps us make better funding decisions, but it also helps the companies — including those that don’t end up receiving funding from us. We try to give constructive feedback and suggestions that will help all applicant companies refine their business and perhaps go on to success with other funding sources.” 

The authors found that “…angel investors have a positive impact on the growth of firms they fund, both in terms of their performance and survival. Start-ups funded by angel investors are 14% to 23% more likely to survive for the next 1.5 to 3 years and grow their employment by 40% relative to non-angel-funded start-ups. Angel funding affects the subsequent likelihood of a successful exit, raising it by 10% to 17%. Having angel funding also seems to matter significantly for the ability of a firm to obtain follow-on financing.”

“It’s interesting that the authors concluded that angel investing yielded higher returns than VCs,” concluded Mr. Harbison. “This is not surprising since angel investing is higher risk and, hence theoretically, should yield higher overall returns. In the case of Tech Coast Angels, our portfolio has realized a return of 3.3 times the capital invested, and an IRR of 26%. But in addition to IRR, we are encouraged that this study reinforces that angels are adding real value to the entrepreneurs with whom we interact – helping bring innovation to the world and solve real problems.”

Rise of the Angel Investor: A Challenge to Public Policy, in its entirety, can be found at http://www.thirdway.org/report/rise-of-the-angel-investor-a-challenge-to-public-policy.


Connected Signals: Could a smart phone app help prevent drivers from running red lights?

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October 11, 2016: Mercer HR Services, LLC: #Tech Coast Angels: New #Harvard Business School and MIT Sloan Report Concludes That Angel Networks Have Measurable Positive Impact on Companies They Fund

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Interesting Tech Coast Angels MIT / Harvard Report: Angel Returns Superior to VCs https://t.co/ytylohtNJXÖ https://t.co/zwnA9Nl7EY

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Tech Coast Angels: New Harvard Business School and MIT Sloan Report Concludes That Angel Networks Have Measurable Positive Impact on Companies They Fund | My Social Good News

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Tech Coast Angels MIT / Harvard Report: Angel Returns Superior to VCs

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Quick Pitch Winners Announced by Tech Coast Angels

Tech Coast Angels (TCA), one of the largest and most active angel investor networks in the nation, announced 1st, 2nd and 3rd place competition winners immediately following live presentations at their popular Quick Pitch held on Oct. 6 at Qualcomm Hall. Ten finalists presented two-minute pitches to a blue ribbon panel of judges and an audience of 450+ leaders from the local, entrepreneurial eco-system during a sold out event that also featured locally sourced artisanal food and drink.

Southern California has become a hot bed of entrepreneurial activity with startups seeding local job development and stimulating mergers and acquisitions activities. “Our annual Quick Pitch competition is one of the most exciting entrepreneurial highlights of the year in San Diego,” said Sergio Gurrieri, President of the San Diego chapter of Tech Coast Angels. “It is an opportunity for entrepreneurs to network, learn and compete for investment capital that is crucial to early stage companies while cementing long-term relationships with various investors from our community.”

This year, Quick Pitch had a record breaking 140+ applications from a relatively young and diverse crowd of entrepreneurs, making it difficult to cull down to ten. The finalist’s pitches were judged on investment potential and presentation quality with ten experienced judges providing immediate feedback, “Shark Tank” style. But, the audience had the final say on who won using real-time polling with the winners announced at the conclusion of the competition. In a pre-taped message screened during the festivities, Mayor Faulconer thanked the Tech Coast Angels by highlighting the contributions to the local economy from the startup community. 

After the event, Eugene Cho, CEO of 1st Place winner, Echo Labs, commented, “Echo Labs was honored to have the opportunity to compete in Quick Pitch amongst some of San Diego’s finest entrepreneurs. We would like to thank Tech Coast Angels for putting together a remarkable event that we will never forget.” 

The 2016 Quick Pitch competition winners are:

1st Place – $15,000: Echo Labs, Eugene Cho 
Echo Laboratories designs, develops and sells innovative microscopes. They’ve launched the Revolve – the world’s first hybrid microscope that converts between Upright and Inverted configurations, eliminating the need for labs to purchase two separate instruments. Eyepieces have been replaced with an iPad tablet to view and capture images. Users control the Revolve remotely, send data wirelessly, or directly upload their images to the cloud. http://www.echo-labs.com

2nd Place – $10,000: Braykion, Jon Wilensky, MD 
Braykion helps hospitals solve the $40B problem of healthcare associated infections by providing an intuitive, low cost hand hygiene compliance and behavioral modification solution. The Braykion system leverages the latest machine learning and wearable technology to monitor, record, and remind health care workers when they need to wash, stopping the spread of these preventable infections. http://www.braykion.com

3rd Place – $5,000: PELV-ICE, Jill Bigelow 
PELV-ICE is a medical device startup revolutionizing the standard of care for pelvic soft tissue trauma patients. PELV-ICE has created a new category of utility patented soft braces that uniquely support all sides of the pelvis with multi-directional and highly adjustable compression and removable ice/heat therapy anywhere you need it that are easy to use, discrete, highly effective and covered by insurance and Medicaid. PELV-ICE’s first brand, Mama Strut for maternity and postpartum recovery, is a game changer for new mamas by decreasing narcotics, and increasing mobility, mood, and birth satisfaction. http://www.mamastrut.com


New Harvard Business School and MIT Sloan Report Concludes That Angel Networks Have Measurable Positive Impact on Companies They Fund

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October 11, 2016


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