Aggie Angel Network provides critical financial, mentor support for entrepreneurs

Jeremy Kelley ’14 and David Birch had a promising business idea. Thanks to the support of the Aggie Angel Network, the duo’s company, Collective Labs LLC., is turning that concept into a reality.

Launched in fall 2010, the Aggie Angel Network is a nonprofit corporation that provides early-stage investment opportunities and assists early-stage high-growth technology companies. “The network is like a dating service,” said Omar Hakim, who serves as the network’s president as well as the Research Valley Innovation Center’s general manager. “We’re introducing entrepreneurs who are seeking investments and investors who are seeking opportunities.”

Streamlining the Investment Process
The network is designed to facilitate and streamline the investment process. “As a network we are trying to find deals and prepare deals that have the potential to be 10-fold opportunities for investors,” Hakim said. While the network welcomes proposals from any entrepreneur, applicants with ties to Texas A&M get a friendlier look.

To access the Aggie Angel Network, interested entrepreneurs complete a structured application process. The network’s staff, which includes Mays Business School graduate students, reviews the applications and works with the entrepreneurs to address any gaps.

Potential investors also are screened prior to becoming network members to ensure that they are accredited investors. The network, which has received membership pledges from 30 investors, is well on the way to its goal of having 100 members by the end of 2011.

Once an entrepreneur submits a proposal and an application fee, the Aggie Angel Network shares the information with member investors. Face-to-face and online sessions also are held so that entrepreneurs can pitch their proposals directly to interested investors. When a match is made, the investor agrees to provide funding, often in excess of $100,000. Frequently the investor’s knowledge, connections and mentorship prove to be as important to the entrepreneur’s success. “Some of these people have never run a company in their life,” said David Wesson ’82, who serves as the network’s chairman.

Allowing a Focus on Product Development
Through the Aggie Angel Network, Wesson already has funded two proposals submitted by Kelly and Birch. “These investments allow us to focus on building the product as opposed to figuring out how we feed our families,” said Kelley, a Texas A&M doctoral student in computer science. Wesson’s first investment paved the way for the development of BlinkSend, a web-based computer software that allows users to see the effectiveness of their electronic documents through statistics and analytics. A Beta version of BlinkSend is available online. Wesson’s second investment is supporting the creation of another software program designed to help charities raise contributions that will debut in March.

Hakim believes these deals will be the first of many through the Aggie Angel Network and hopes more Aggies investors will consider membership in this network. “The Aggie Angel Network is a great way to give back because you’re going to be able to give technical expertise and knowledge as well as financial support,” Hakim said. “This network is really in line with the legacy of Aggies helping Aggies.”