The Millennial Ambassador Program Presented by Vitalize Venture Group
Venture capital and angel investing present the powerful opportunity to invest in exciting new startups that are driving real change, creating solutions that would be unimaginable years ago. Perhaps the most important part of the investment process is due diligence. Despite its importance, we have noticed a gap within the due diligence process related to age. This gap has led to inefficiency in assessing companies and missed opportunities for investors.
The mean age of angel investors in the U.S is 58, with 76% of angel investors being over the age of 50. This becomes a challenge when assessing companies targeted at a millennial audience, as there is a significant age gap between the investors of millennial-targeted companies and the age of their target audiences. As a result, investors may struggle to be completely confident in their decision to invest or not invest in millennial-targeted companies simply because they cannot relate to the product or service.
The Vitalize Venture Group Millennial Ambassador Program (MAP) was created in 2019 to help bridge this gap between the investor’s age and an entrepreneur’s idea. MAP is comprised of college students and young professionals between the ages of 20–30 who review five to ten companies per quarter. These individuals provide thoughts from the lens of a potential customer. Through this process, ambassadors acquire an inside look at the venture capital due diligence process, and feedback from ambassadors is passed to investors as they consider investment opportunities. Due to the feedback from millennials, IrishAngels investors have been able to move forward with multiple millennial-targeted companies since MAP’s inception last year.
We believe MAP is a great way for college students and young professionals to gain exposure to the due diligence process and cutting-edge entrepreneurial ideas, while enhancing the due diligence process for our investors.
If you or someone you know, between the age of 20 and 30, is interested in joining the Millennial Ambassador Program, fill out an application form here. Feel free to contact Vitalize Venture Group’s associate, Caroline Yeager, at firstname.lastname@example.org with any questions!