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How to find investors for your life science startup: Advice from angels

Deanna Pogorelc

Choosing the right strategy for funding your life science startup can be tricky, but Allan May, founder of Life Science Angels and a panelist on this Berkley Entrepreneurs Forum on angel investing, has a pretty simple formula: “If you can articulate a set of milestones that are achievable on an amount of money within the range of angels -- let’s call that plus or minus a million dollars – and you can articulate why achieving those milestones will increase your valuation, then you really ought to seek angel financing instead of venture financing.”

Once you’ve decided angel funding is best, start networking and talking with angels as early as possible, says Trevor Blackwell, a partner at Y Combinator. “I’m always impressed by companies that get things done between when I start talking to them and the next time we talk.”

As for how to approach angel investors, the panelists agree it’s best to avoid professional finders and start a conversation through a mentor or colleague, ideally someone else willing to invest.

If you’re interested in hearing more about how to shop your business to angels and what your presentation should include, watch the discussion on these topics from the 13:10 mark through 23:00.

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