FAQs

Entrepreneurs

Submitting Business Proposals

To submit your business proposal to C-Cap's angel members, you must create an Executive Summary of your business in the format specified by C-Cap. See the box to the left for information on downloading the Executive Summary Guidelines and the Application form. C-Cap's staff will review the executive summaries for format requirements, and will distribute conforming executive summaries to its angel members. C-Cap does not evaluate the merits of business proposals, and does not recommend businesses to angels. Angels make their own investment decisions.

If any angels are interested in pursuing a business proposal after reviewing an executive summary, C-Cap will contact the entrepreneur and arrange the next step. Angels may want to review a complete business plan if one exists, and/or meet with the entrepreneur. If any angels who are members of Queen City Angels are interested, the entrepreneur is usually invited to make a presentation to a Queen City Angels meeting as part of the process.

Angels are typically looking for investments that will yield a substantial compounded annual return. They also generally seek companies that can use their investment to move to the next level of financing, usually venture capital financing. So they are looking for "growth" companies. Many of their investments will be in technology companies, but they normally look at any company that can achieve high growth rates and profitability, with a reasonable exit strategy. Angels' investment horizons are usually longer than venture capital firms', in the range of five to seven years. But they do expect an exit strategy to be feasible, whether through a public offering, a sale of the business or otherwise.

Entrepreneur Boot Camps and Networking

C-Cap will also be conducting an Entrepreneur Boot Camp - a basic course in how to create a business that will attract financing and achieve success - and other educational programs. The Circuit also conducts numerous networking and educational programs each month that benefit entrepreneurs.

C-Cap has relationships with the entrepreneurship programs and other resources at local universities, and with local technology companies. C-Cap also receives resumes of experienced executives and other personnel seeking new positions. C-Cap works with startups to make these resources available.

QCA First Fund

The QCA First Funds I and II are small investment funds which was established to help fledgling companies reach important milestones in their development and attract additional investment from conventional sources. Members of the Queen City Angels, with support from the Tri-State Growth Capital Fund, provide management and oversight of the Funds, as well as mentoring and guidance to the portfolio companies. QCA First Fund I is now fully invested, and QCA First Fund II is currently investing actively.

The typical investments are in the $50,000-$100,000 range. This investment will typically be the first investment outside "friends, family and founder" moneys, and is made at an earlier stage than the Queen City Angels would make an investment outside the First Funds. The company should be able to use the First Fund's investment to achieve significant milestones that will make it an attractive investment to the Queen City Angels members or other conventional equity investors.

Technology will normally be the driving force of the company's growth strategy. The company typically will qualify for the Ohio Technology Investment Tax Credit (see the box on the left).

Most QCA First Fund II investments will be made in Ohio companies, although the First Fund may consider compelling investments in other locales.

Visit the QCA First Fund web site for more information, and instructions on how to apply for financing.