Finance

Published online: 20 December 2004, doi:10.1038/bioent839

The importance of angels in starting a US biotech venture

*Jeffrey Sohl is at the Center for Venture Research (CVR) at the University of New Hampshire's Whittemore School of Business and Economics in Durham, New Hampshire 03824-3593, USA. http://www.unh.edu/cvr/. The CVR has collected and analyzed data on the angel market since 1979. cvr@unh.edu

Checklist for attaining angel funding

• Prepare a solid business plan with experienced management^5,6,7
• Expect 3 to 4 months due diligence before the deal is completed
• Look at the investment as gaining a long-term mentor
• Look for an angel near your location
• Most angel groups invest in diverse sectors and have a vetting board, so prepare your pitch to have broad appeal
• Your most likely way of meeting an angel is through networking