San Antonio to host Life Science Funding Forum
2nd September 2011
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The Texas Entrepreneur Network will host its first San Antonio Life Science Funding Forum Oct. 27 from 1-4 p.m. at the Old San Francisco Steak House, 10223 Sahara.
“We’re excited about the prospects of hosting this initial event,” Hall Martin, the executive director of Texas Entrepreneur Network. “Not only are we drawing upon the growing biomed community in San Antonio, but we are going to reach out to other life science startups in Austin, Dallas, Houston and El Paso.
“San Antonio offers valued added partners for biomedical companies, including funding, development, preclinical, clinical and manufacturing suppliers,” said Gabi Niederauer, senior vice president, technology and development, ENTrigue Surgical. “Bringing these companies to San Antonio will showcase our expansive resources and foster more growth and collaborations.”
“The trend in fund raising today is toward open angel groups in which investors come together through forums and websites to view potential deals,” Martin said. “Another trend is the ever decreasing fund raise due to the falling cost of starting a business.”
Martin added in the 1990s, startups raised $5 million to start a web-based company. In the 2000s those same companies were raising $500 thousand. Today those same companies are seeking $250 to $350 thousand.
The Open Angel funding forum model helps recruit more investors into the startup investing world by making it easierto access deals. It also gives more entrepreneurs exposure to investors and the pitch process, he added.
Entrepreneurs gain mentor ship from the open angel funding model as they gain access to what was previously a closed door process of pitches to investors.
The Texas Entrepreneur Network runs an Open Angel model funding forum series in which active investors are invited to sit on a panel to review 10 minute pitches from entrepreneurs. Behind the investor panel sits an audience of potential investors and entrepreneurs who view the pitches to learn about the fund raising process.