Angel Investors - I'm having an issue.

**PhillM** · 11-13-2010 03:20 PM

Hey guys,

I've been working on a business plan for a while now and it's all coming together. I have big names in the industry working with me and great support from potential partner companies. The only issue I have is getting the money to get things rolling. I need a fairly large investment for a start-up. Roughly $500,000. The angel investors I have talked to don't see that as much of an issue and then they begin to ask me about my background. I mention to them that I have owned multiple (small) businesses and that I'm currently finishing up college. They instantly disappear after that point. This is all after they tell me they love my idea and I have great answers to all of their questions.

Some of the investors have even said "This is a great idea" and then later mentioned giving me more money than I had originally asked for.

I'm just curious as to if I'm doing something incorrectly or is it my age? I'm having a hard time contacting angel investors in my area (Ohio). The ones I have the ability to talk to ask for $150+ for the application fee just to show them my business plan. I'm willing to pay $150 to show them my plan but at the same time most angel investor groups receive thousands of apps a year, who says their even going to read mine? With an approval rate around 4-6 apps a year my odds aren't looking good. I'm also not exactly in the position to be wasting my money.

Are there any "certified" sites out there where I can meet legitimate investors? I've tried partnerup.com but I'm always asked to send over my credit card number so they can verify me and then I'm asked for a deposit of $5,000+ so they can send me the investment.

I just want to talk to legit investors.

**Indest** · 11-14-2010 07:28 AM

Phil, check out TechColumbus.org and OhioTechAngels.com. TechColumbus, for whom I work, helps entrepreneurs find legitimate sources of business advice and access to a variety of funding. Write me at windest-at-techcolumbus.org if you can't find what you are looking for.