Business Meeting

FOUNDERS

Founders Drive Startup Communities

Legacy Angel Network is passionate about supporting local founders that are creating legacies within their communities. We believe that founders drive startup communities and local economic growth. Innovative founders move industry forward, create new & higher-paying jobs, and strengthen local business ecosystems. This is the most sustainable blueprint for a thriving community.

Funding Criteria

Use of Funds

Founders must be able to demonstrate use-of-funds and detail how the funds will strategically grow the business. 

Profit Potential

Founders must be able to demonstrate how high gross margins and consistent cash flow will be achieved. 

Business Plan

Founders must submit a comprehensive business plan that clearly expresses the expectations and strategies for how the company will grow.

Competition

Founders must be able to identify potential competitors and demonstrate how their company is different related to the product(s) or service(s) offered. 

Protected IP

Founders must demonstrate how they are actively protecting their intellectual property/trade secrets. Additionally, founders must be able to show that no patents or trademarks of others are infringed upon. 

Target Customers

Founders must be able to demonstrate that the market segment has been clearly identified (what’s the problem in the current market?) and can show the demand for the proposed solution.

Financials

Founders must show reasonable financial projections based on logical and realistic assumptions. Projections must include income statements, cash flow & balances, and supporting spreadsheets.

Sales and Market Strategy

Does the founder have a plan to achieve extensive market penetration for the product and/or service offerings? Sales strategies must be clearly defined. Founders must have a comprehensive branding & marketing plan.

Strong Management Team

We look for strong teams that work together. All management team members must be teachable, passionate, and driven. Additionally, management teams must be willing to work with Legacy advisors.

Market Size

Founders must be able to demonstrate how the projected spending in the product category is large enough for the idea and has maintained a growth pattern.

Proven Concept

Founders must be able to prove the concept with data and/or by objective experts. Additionally, founders must include a concept commercialization strategy in the proposed business plan.

Exit Strategy

Founders must submit a comprehensive business plan that clearly expresses the key expectations and strategies for how the venture will grow.

Legacy Investment Process

Research shows that Angel funding directly correlates with higher survival rates for startup companies. The main reason for this is the direct involvement and ongoing support of Angel Investors throughout the ups and downs of company growth. LAN's unique investment process creates strategic connection points between the investors and founders throughout the lifecycle of the company.   

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