COLORADO
ANGEL INVESTORS TEAM UP FOR TOP RESULTS
When Colorado
decided to provide options for its emerging biotech industry, Colorado angel investors
came through with a very effective plan.
There are a number of Colorado angel
investors and angel investor groups. Working independently to
finance biotech startups is a tedious undertaking. Each angel
investor had to conduct its own research, interview the company
principals, do background searches, verify findings, and everything
else that an angel investment group does.
Biotechs are even more time
consuming, and therefore more expensive, to investigate.
Biotechs are faced with the very long, very tedious governmental
approval processes that can rapidly add millions and millions of
dollars to new startup costs.
There had to be a better way.
There is. It's a group of
Colorado angel investors who call themselves Colorado BioAngels.
CTEK, a Colorado nonprofit that supports innovative entrepreneurs,
teamed with the Colorado BioScience Association to form Colorado
BioAngels.
Now new biotechs looking for
financing can go to one source: Colorado BioAngels, which will in turn
recommend it to specific Colorado angel investors that are appropriate
for its particular niche.
Its' a real win-win arrangement.
The biotechs get the funding they need, and Colorado gets some pretty
spectacular companies.
We hope this is just the beginning
for this type of investment. There is a great deal to commend it
to other states and other industries.
Congratulations, Colorado BioAngels,
for a major advancement in angel funding.
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Jasmine McAllister
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Jasmine
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