This post originally appeared on the Louisiana Technology Park blog.
Early-stage startups looking to fund and grow their businesses are increasingly turning to angel investors for capital investment. But New Orleans angel investors Mike Eckert and Scott Whittaker say there are more entrepreneurs than ever before seeking those infusions of capital.
Eckert and Whittaker are members of the NO/LA Angel Network, a group of accredited investors from New Orleans and throughout Louisiana who work together to evaluate, fund and nurture early-stage companies. The group includes nearly 100 high-net-worth individuals who provide capital for startups in exchange for convertible debt or ownership equity.
“The competition for capital from angels is incredibly fierce,” says Eckert, who chairs the group. “The average angel group invests in 2 percent of companies that come to it on an annual basis.”
At a recent Tech Park Academy event, Eckert and Whittaker offered a host of tips on how they decide to make investments and how entrepreneurs can tailor their pitches to stand out.