Review Process

The Alliance of Angels (AoA) reviews companies on a monthly cycle. Our membership meetings take place on the 4th Wednesday of each month (with the exception of August and December when we do not have meetings). Decisions regarding which companies will proceed to Step 3 are made mid-month. Companies submitting plans to the AoA later than this timeframe will be considered for the next monthly membership meeting.

Companies which meet the AoA investment criteria will undergo the following review process which has four milestones:

• Companies submit an executive summary of their business plan on our website. Qualified plans are accepted and will remain active on the AoA Web site for 120 days from the date of submission. There is a nominal $95 application fee for companies submitting on our website.
• If selected, the plan undergoes an in-depth review with the AoA Program Managers. There is NO additional fee for this review.
• If selected, the company is invited to present to the AoA Screening Committee. There is NO additional fee for this presentation.
• If selected, the company is invited to present at the AoA monthly member meeting. We ask presenting companies to help pay for the cost of their lunches, about $30 / person for up to 4 company representatives, but NO additional fee is charged for presenting to our members.

Step 1 - Submitting an Executive Summary

In initial stages of screening, the Alliance of Angels only reviews an executive summary of a company's business plan. A standardized executive summary is compiled from information submitted via our online form. Only business plans submitted in this format will be considered in the Alliance of Angels review process unless a Program Manager explicitly approves another format. To protect the confidentiality of these materials, summaries are only available to AoA accredited investor members in a password protected area of our Web site. There is a nominal $95 application fee for submitting on our website.

Step 2 - Review with the Program Managers

Some companies will be selected for further review and will be contacted by one of our Program Managers for more details about your company. If you are contacted for further review, this step requires a 10-minute PowerPoint presentation with the highlights of your business plan. Additional questions and discussion of your company will also be included in this 90 minute-long meeting. You will need to bring your own laptop for this presentation and 2 hard copies of the presentation slides (3 slides per page in Black & White).

Step 3 - Review with the Screening Committee

Companies which have undergone further review with the Program Managers may be invited to present to the AoA Screening Committee. This is the final step in the selection process for consideration to present at an upcoming AoA Member Meeting. Selected companies will be invited to present a 10-minute PowerPoint with highlights from their business plan to the Screening Committee, a group of experienced angel investors and venture capitalists. The Screening Committee makes the final selection of companies invited to present at the next AoA member meeting. Companies will be contacted by the Program Managers with the Screening Committee's decision and given feedback on their presentation.

Step 4 - Member Meetings

Each month, the members of the AoA convene to see a select group of start-up companies present their business plans. We invite three or four companies to present their plans, depending on the quality of available companies and their readiness to present. Each company makes a 10-minute presentation, followed by a five minute Q & A period. At both the beginning and conclusion of a meeting, time is scheduled for entrepreneurs and members to visit. After the meeting, AoA members may contact a company directly or contact an AoA Program Manager for assistance in obtaining more information or scheduling a follow-up meeting.

As an additional service to our members, the AoA Program Managers write a Company Research Report for each presenting company which includes summary information from the business plan, a market analysis and a review of the competitive landscape. These reports are available to our members at the monthly meeting and afterwards on the AoA Web site along with each company's PowerPoint presentation.