Open Angel Forum
Encyclopedia
The Open Angel Forum is a recurring event designed to aid early stage startup companies seeking funding, via presentations to prospective angel investors.
Launched in 2009 by tech entrepreneur and media figure Jason Calacanis
, the event was the culmination of a series of public comments by Calacanis questioning the ethics of groups who charge fledgling companies to present to wealthy investors.. Calacanis, already co-founder of startup competition TechCrunch50 with Michael Arrington
(which ran from 2007-2009), had spoken out repeatedly against specific groups he characterized as preying on small, hopeful companies seeking financing.
The conversation evolved quickly over the course of several days, beginning with a blog post calling for "Jihad
" against the Keiretsu Forum, a discussion on his online broadcast This Week in Startups, and two impassioned polemics outlining the impetus for creating an alternative model: the first self-described as "declaring war" and "written with boiling blood" quickly followed by a second containing quotes from other prominent tech industry pundits such as Fred Wilson
and Brad Feld as well as anonymous individuals claiming to be formerly affiliated or familiar with the groups in question.
Upon formalizing the organization, several principles were outlined regarding qualifications and structure, the most notable legacy of the initial controversy being a strict rule against fees for both presenters and investors for participation. Startups presenting at the Open Angel Forum are picked by the event's organizers (which include regional "chapter heads" as well). Six companies are chosen and each presents for 10 minutes. Angel investors must apply for admission as well, and required to be active, with at least four investments in the past year. The first event was held on January 14, 2009 in Los Angeles and to date events have been held in six cities: Los Angeles
, San Francisco, Palo Alto, Boston
, Boulder, CO and New York
.
Though news reports and blog postings by participating companies, as well as the organization itself, have touted funding offers following the events, the group does not maintain a comprehensive list of presenters, nor have they announced the success rate or other metrics as to the efficacy of the program as a source for startup capital for participants.
Launched in 2009 by tech entrepreneur and media figure Jason Calacanis
Jason Calacanis
Jason McCabe Calacanis is an American Internet entrepreneur and blogger. His first company was part of the dot-com era in New York, and his second venture, Weblogs, Inc., capitalized on the growth of blogs before being sold to AOL....
, the event was the culmination of a series of public comments by Calacanis questioning the ethics of groups who charge fledgling companies to present to wealthy investors.. Calacanis, already co-founder of startup competition TechCrunch50 with Michael Arrington
Michael Arrington
J. Michael Arrington is the founder and former co-editor of TechCrunch, a blog covering the Silicon Valley technology start-up communities and the wider technology field in USA and elsewhere...
(which ran from 2007-2009), had spoken out repeatedly against specific groups he characterized as preying on small, hopeful companies seeking financing.
The conversation evolved quickly over the course of several days, beginning with a blog post calling for "Jihad
Jihad
Jihad , an Islamic term, is a religious duty of Muslims. In Arabic, the word jihād translates as a noun meaning "struggle". Jihad appears 41 times in the Quran and frequently in the idiomatic expression "striving in the way of God ". A person engaged in jihad is called a mujahid; the plural is...
" against the Keiretsu Forum, a discussion on his online broadcast This Week in Startups, and two impassioned polemics outlining the impetus for creating an alternative model: the first self-described as "declaring war" and "written with boiling blood" quickly followed by a second containing quotes from other prominent tech industry pundits such as Fred Wilson
Fred Wilson
Fred Wilson is a former politician in Ontario, Canada. He served as a New Democratic Party member of the Legislative Assembly of Ontario from 1990 to 1995, and was a cabinet minister in the government of Bob Rae....
and Brad Feld as well as anonymous individuals claiming to be formerly affiliated or familiar with the groups in question.
Upon formalizing the organization, several principles were outlined regarding qualifications and structure, the most notable legacy of the initial controversy being a strict rule against fees for both presenters and investors for participation. Startups presenting at the Open Angel Forum are picked by the event's organizers (which include regional "chapter heads" as well). Six companies are chosen and each presents for 10 minutes. Angel investors must apply for admission as well, and required to be active, with at least four investments in the past year. The first event was held on January 14, 2009 in Los Angeles and to date events have been held in six cities: Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
, San Francisco, Palo Alto, Boston
Boston
Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...
, Boulder, CO and New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
.
Though news reports and blog postings by participating companies, as well as the organization itself, have touted funding offers following the events, the group does not maintain a comprehensive list of presenters, nor have they announced the success rate or other metrics as to the efficacy of the program as a source for startup capital for participants.