How 'bout a little love for the angels, GOED?

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Jul16

How 'bout a little love for the angels, GOED?

Jeff Jordan

Know More: Angel Investing, Statistics, Venture Capital 2.0, Venture Capital

On Thursday, I had the chance to attend the Utah Valley Entrepreneurial Forum's Top 25 under 5 awards ceremony honoring Utah Valley's top companies under five years old.

The keynote speaker was Jason Perry, GOED's Executive Director. Among other things, Jason talked about how Utah's current administration has given more Utah companies access growth capital by creating a $100M "fund of funds" that will "invest in venture capital and private equity funds that commit to establishing a working relationship with the Utah Fund of Funds, Utah's start-up and business community and commit to making investments in qualifying companies."

I applaud Jason and Governor Huntsman for the amazing work that they have done to stimulate Utah's economy. We're in better shape now than we have been in for a long time. Huntsman is an amazing man and the best leader this state has had for years..

However, I wish he and GOED would do more to encourage angel investing -- a form of seed capital that creates far more jobs and far more companies than venture capital ever has.

A couple of compelling stats:

It is estimated that 90% of all outside equity capital in seed/startup stage companies is sourced from angels.
Nationwide, angels invested in approximately 49,500 start-ups, compared to 3,008 by VCs in 2005.

I don't know what the stats are for Utah, but I'm sure there are similar gaps in the numbers. Even if the stats aren't the same, there is a much larger opportunity for angel investing in Utah than venture capital.

Am I right?

related entries

No Formula for VC Success Aug 3, 2006
Angel Led Venture Partners Jul 12, 2006
EnablingAngels "On Leave" Nov 7, 2006
Valuation Panic, Part 2 -- For Angels Aug 31, 2006
Valuation Panic, Part 1 -- For Entrepreneurs Aug 31, 2006

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