Though business has evolved since the dawn of time, one thing remains the same: entrepreneurs need money to succeed. But in this economy, getting your hands on cash can be tough—we know this firsthand (read about how we raised $1 million). And it’s even harder for tech startups searching for capital in a market flooded by dime-a-dozen tech companies, all boasting a world-changing idea. So how does a tech-industry startup find financial backing? Enter the angel investor. Angel investors are independently wealthy individuals who put money into startups (amounts vary from $10,000 to $1 million), often in exchange for convertible debt or ownership equity. In 2008, angel investors contributed $19.2 billion to 55,480 startups, according to the University of New Hampshire‘s Center for Venture Research. While that may not sound like much, the majority of investors preferred to invest in tech-industry areas such as software, IT, and biotech. That makes angel investing a great tool for tech startups in need of cash. But how do you woo angels to fund your business? Follow these tips to secure angel funding.
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