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Standard Application Process

1.      Entrepreneurs can apply via Gust.

Materials that must be included in the application are:

  • Pitch deck
  • Term sheet or anticipated term details
  • Cap table
  • Historical financials and pro-forma (3-5 years)
  • YTD income statement and balance sheet (if available)

Also recommended are:

  • Team bios
  • 2-3 minute video of elevator pitch
  • List of customer references

2.     Applications will be reviewed internally. If approved, the applicant will be scheduled to present to the Screening Committee, which typically meets two times per month.

3.     Screening meetings consist of either an in-person or videoconference presentation. Please plan for a 20 minute pitch + 20 minute Q&A session.

4.     The screening committee will select companies to present to the broader angel network at upcoming monthly angel meetings. If selected, entrepreneurs will be asked to present in-person.

5.     Monthly meeting format includes a 15 minute presentation + 15 minute Q&A session to an audience of 40+ members. Feedback will be collected that evening on member interest.

6.     If selected, due diligence will begin immediately following the presentation. Standard items included in the diligence process include:

  • Follow-on calls for members with the founder(s)
  • Phone call or meeting with lead investors
  • Customer reference calls
  • Review of additional diligence materials (ex: key customer agreements, review of IP, additional financial diligence, etc)

7.     Our organization follows NVCA-style investor documents (i.e., convertible preferred stock investments with a standard set of investor rights). Any documents that stray from these general guidelines will not gain investor interest.

8.     Each Nebraska Angel determines if they will make an investment. Members invest directly into the Company, or we may pool smaller investments into an LLC.

9.     We will help coordinate the collection of signatures and funds from the members who make investments. To offset the costs of the organization coordinating these efforts, we request companies that receive investments greater than $200,000 by the Nebraska Angels to contribute a one-time payment of $2,000. This help will also ensure that the organization be available to assist with future coordination.

10.   Estimated length of the entire process is approximately 60 days.