It’s been a year since we kicked-off the TechAviv Angels, an informal gathering of successful Israeli startup founders and investors that are privately angel-investing in Israeli Web and Mobile startups. Our format was simple – get together every 2 months to see pitches by the most promising TechAviv startups. I’m thrilled to say that the format led to the financing of several awesome startups but as many founders pointed out, one key element was not optimal – it didn’t scale.
Here’s what we learned:
- It’s hard to coordinate the schedules of 50 angels for a bi-monthly pitch night.
- The hottest deals don’t wait for a bi-monthly pitch night
- There are too many qualified startup applicants for a bi-monthly pitch night.
Here’s what we’re doing:
Since our mission is to get as many brilliant Israeli founders funded as possible we’ve decided to change up our format to be more of an Angel List. Startups should still apply here, but instead of pitching in front of the whole group, we’re going to be sending a regular “Hot Deals” email to the Angels highlighting the most promising applicants. Interested Angels follow-up with the founders directly via email. We will not hold pitch nights, but Angels always have access to our applicant database for direct contact with the founders at any time.
Please note that the TechAviv Angels are a separate group from the TechAviv Founders Club, which is open to all founders of active Israeli hi-tech startups.