In terms of whether it’s preparedness early on or later on and understanding what one is going to face when one goes out to raise money, an organization like Alpha Loft, or one of the other incubators in the state, can actually help frame things and provide context and understanding to the founders who have not raised money before.
This is a very serious undertaking and the idea of being prepared is great, but typically an entrepreneur is not in a good position to prepare themselves completely and seeking outside advice through resources like Alpha Loft or another incubator can be extremely helpful in preparing for those meetings. Also, the other incubators in the state can be conduits to potential angel investors. Certainly a referral to somebody is going to be better than a cold call and if an incubator is referring a founder to someone or to an angel group or an individual angel, they’re probably doing so at a point where they feel pretty comfortable that the founder is going to be able to present themselves well, that they can make a compelling case, and that they are indeed prepared. So, it’s kind of a little bit of a stamp of, well, maybe it’s a little bit like getting a passing grade and saying okay you’re ready. That can not only prepare them well but it can also perhaps provide a little bit more confidence to the founder, which is important in going into those meetings.
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