From Paper to Profits: How Investing in College Paper Help Can Pay Off
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Read more...After looking at VCs, and after managing the European American Angel Club
for two years now, I have come to the conclusion that entrepreneurs are
not really being served properly when it comes to seed funding. And I
would like therefore to propose the concept of an Entrepreneur Commons to help with the issue.
I have seen are roughly three types of angels:
From the entrepreneur side, this leaves out of the system a whole lot of very good startups with very promising businesses but not "hot" enough. This is even more critical these days when you see an emergence of "social entrepreneurs" who are interested in making money, but whose focus (and measure of success) is also to help the community one way or another. They are not really non-profit, so most of the time they do not qualify for grants, but they are not the 10x type either. Meanwhile they clearly deserve help.
The way I see out of this situation is the Entrepreneur Commons:
A not-for-profit social network of entrepreneurs providing financing for early-stage company through debt guaranteed by a mutual guarantee fund. The financial risk is mitigated by the mutual guarantee fund. The risk on the "management" side is mitigated by the social network: loans are by invitation only, so you will have to be approved by your peers to get in. And the typical scalability issue faced by general partners in a VC fund (which causes the famous "funding gap") is also resolved by the social network: the size of loans and the number of entrepreneurs involved is no longer a problem, and if anything it helps stabilize the results of the group as a whole.
The project is starting to get some traction, and we have been getting a lot of positive feedback. The recent post from my friend Jessica is a good example of the reactions I get. The goal is now to confirm the blueprint for this model, so that it can be replicated anywhere. We have started looking for funds so that we can make loans soon.
Stay tuned.
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Read more...The Importance of the AMI-Jerusalem Center for Biblical Study and Research
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