Meeting recap
Iratel Ventures Breakfast Series #23
We hosted a gathering of local and global entrepreneurs, investors and active ecosystem players at Iratel Ventures Breakfast Series event last Thursday. In this session we returned to the Lean Coffee format and opened the discussions with the theme of Angel Investing.
These topics were suggested:
- Investor-startup fit
- Startup funding value chain
- Angel investor profile
The topic that got the most votes was investor-startup fit followed by startup funding value chain.
The investor-starup fit discussion was raised again. This topic was discussed briefly in the previous session. Entrepreneurs are looking for a perfect match in an angel investor who’s got the network, funds, and time to spend on helping the startup. Angel investors are looking for startups whose teams they like and to whom they can provide specific help from their experience. However, it was also mentioned that there is no perfect match, especially in a young ecosystem such as the one in Iran. Investors should acknowledge that startups may need a lot more hand-holding and startups should know that angels are gathering experience too. There are no active angels who’ve gone from idea to exit in this ecosystem. After some debate, it was clear that the role of the capital was not highlighted enough and an angel, no matter how helpful and insightful, is not able to help a startup if they don’t provide the right capital for it. The best angels are those who’ve put aside a budget and timeline and know how and when they’re going to invest. They’ll be diligent and patient and will work alongside the entrepreneurs. At the same time, entrepreneurs should have realistic expectations and be fully committed and prepared for the roller coaster life they’re about to begin in their startup.
Next event
The topic of the next event will be “startup funding value chain”. It will be held on Thursday 22th February 2018. We have now moved these Breakfast Series to iLab — our innovation centre located on the 7th floor of Iratel tower.
We believe the more open the dialogue, the better it will allow innovation and bringing different disciplines including investors together. These series were started to increase the dialogue opportunities among ecosystem players and especially to bridge the gap between those who are willing to know more about Iranian startup environment and meet up with other ecosystem players. This will increase openness and transparency.
Finally, if you’d like to be added to the breakfast mailing list, please sign up or follow us on LinkedIn.
This is the twenty third in a series of posts about Iratel Ventures Events. We’d love to hear from teams with crazy (but commercial) startups. Get in touch or attend our breakfast series. Finally, don’t forget to get your IV Score to prepare for your next VC meeting.
