3 Things Every Founders Should Know From Angels Investors
In conjunction with our community launch, StormRaise organised its first fireside chat session featuring Raja Singham (BAC) and Bikesh Lakhmichand (1337 Ventures) on “Why bother about Start-ups?” The session kickstarted by Keith, who introduced his vision of StormRaise and how it plans to raise the odds of startup in South East Asia.
He asked the angel investors in the room on some of the key questions:
- Will you fund first time founders?
- What do you look for in founders?
- What factors matter most for company success?
Here are the results of our finding:
81% of angel investors were willing to fund first time founders, given that they have had substantial business experience in senior roles or they were experts in particular fields. Some of the angels mentioned that “If we don’t give them a chance, who will?” I think that this resonates well with a lot of investors who started to invest in startups. A lot of angels are looking to help entrepreneurs, with the mission of wanting to help them achieve their long term goal.
We found it interesting that most angels placed industry expertise in front of grit. It was also very intriguing to see that obsessions with the problem ranked last among the five features. When discussed with the investors, we found that a lot of angels resonate very well with pitches that come from their own field of expertise. All of them appreciated someone on their board or in their team, who understood the industry inside-out.
EXECUTION, EXECUTION, EXECUTION. Again, we can’t stress enough how crucial it is to have a credible team, as execution is key to the success of your startup!