CORPORATE PROFILE
A collaboration between four Ontario angel networks will create more funding opportunities for entrepreneurs seeking start-up investment or early-stage capitalization, according to Board Chairman Carmen Gicante of the Windsor Essex Capital Angel Network (WECAN Investors; weangelnetwork.com). The recently-announced initiative will see the Southwestern Ontario Angel Network, which includes WECAN and London, join funding forces with similar organizations in KitchenerWaterloo and Oakville-Burlington, bringing together angel investors with more resources and experience in helping entrepreneurs turn their dreams into reality. Dubbed Equation Angels (equationangels.com), the partnership is expected to create more avenues for investment. “The current COVID-19 situation has created delays in business-case development,” explains Gicante. “Funding for new start-ups has essentially dried up and we are hopeful this new initiative will be of benefit to entrepreneurs seeking investment . . . With Equation Angels there are as many as 200 potential investors in the funding pipeline.” Loosening the purse strings Jim Marsh, Dean of the Zekelman School of Business and Information Technology at St. Clair College and a WECAN board member,
says that finding investors has been a challenge for many start-ups but the new initiative should help loosen the purse strings. “In addition to making more investment funding available, it will also help expose Windsor-area start-ups to a great range of investment opportunities across Southwestern Ontario,” he states. Marsh adds that often new companies are seeking additional funding to help them with marketing efforts, so they have a better chance of penetrating a very competitive marketplace. Mentorship, networking and advice are also a large part of the ecosystem, says Marsh. “It’s not just about providing the funding, it’s also about providing help as a sounding board,” he explains. “Game-changer” for local entrepreneurs Deborah Livneh, WECAN Interim Executive Director and Entrepreneur-in-Residence with WEtech Alliance, believes the new collaboration can be a game-changer for area entrepreneurs looking to kick-start their dreams. “It’s a very important piece of the entrepreneurial ecosystem,” she says. “It will provide local entrepreneurs exposure to investors across most of Ontario along with high-quality funding opportunities.” Livneh states it’s not unusual to have as many as 70 investors on a remote meeting call. “Our members are a diverse group of accredited
investors, who themselves have varied knowledge in a wide range of sectors,” says Livneh. “As successful business people, our angels bring smart money to the table, offer their expertise to portfolio companies, and share in the due diligence process.” “These are serious investors and it’s taken this process to a completely new level” According to Livneh, “It’s a competitive process and the ones we see are the best of the best. You only have a few minutes to make your pitch and then the investors take time to look at the deal in detail and do their due diligence. These are serious investors and it’s taken this process to a completely new level.” Marsh says that in-person meetings were expected to resume soon and that entrepreneurs interested in accessing the potential funding pipeline can find application forms and information on the WECAN Investors website. Typically, WECAN Investors meet monthly to listen to proposals from entrepreneurs seeking investment, with decisions relating to such funding being made after a deep-dive vetting and due diligence process. Interested in investing? Please contact Deborah Livneh, Eng. MBA by calling C: 519-562-1820 or by emailing: Executive.Director@WeAngelNetwork.com.
WECAN Investors welcomes new interested investors
www.weangelnetwork.com • 519-562-1820 10
The Windsor Essex Capital Angel Network (WECAN Investors) is a members-only angel group comprised of accredited investors seeking investment opportunities in promising, early-stage businesses. WECAN Investors network exposes its members to vetted innovative companies and helps facilitate the investment process. We welcome new accredited investors in Windsor-Essex and ChathamKent to join the local WECAN Investors angel investment.
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