Owatonna Angel Network: Application to Pitch

The Owatonna Angel Network (OAN) is a new group of angel investors from Southeast Minnesota focused on delivering great financial returns to its accredited members, teaching future investors the ropes, and helping early-stage companies get the funding they need. OAN brings together active investors from rural areas who want to back early-stage businesses, mostly in the upper Midwest. We see real opportunities to help these up-and-coming entrepreneurs grow through a solid, well-run angel investment process. Our goal is to add value to these businesses and get them ready for their next round of funding, while giving our angel investors a chance at profitable returns.

We make this happen by hosting quarterly meetings where members can watch pitches from companies looking for funding and share information about investment opportunities. OAN members are looking to invest in early-stage, fast-growth companies seeking anywhere from $50,000 to $2,000,000. Our typical group investment runs between $100K and $250K, with individual investors putting in at least $10K when they're interested in a particular company.

We prioritize companies with highly scalable business models. We're especially interested in manufacturing, food, agriculture, and software sectors, and we love companies in any sector that are based in (or thinking about moving to) the Steele County area. Our members decide which sectors we focus on.

Each member makes their own investment decisions. When there's an opportunity that interests multiple investors, they'll work together on due diligence and negotiations.

OAN also partners with other angel groups, venture capital firms, entrepreneurial accelerators, and similar organizations to share deal flow, provide member training, and co-invest together.

We welcome non-accredited professionals and entrepreneurs who want to learn about angel investing and are willing to pitch in with things like due diligence. They can join as associate members at a lower rate. We're hoping these associate members will eventually become accredited investors and join us as full members and active angels.

The OAN is a program of the Owatonna Area Business Development Center, a 501(c)(3) non-profit.

Format:

• Quarterly pitch nights. Meetings are held in a hybrid format, with OAN Members and Associate Members able to participate in-person and via Zoom.
• 3 companies will present per pitch night.
• 10-15 minute pitch presentation. In-person presentations are preferred, but via Zoom is possible.
• 10-15 minute guided Q&A, asking the following questions:
  • What's the product or service?
  • Why will the customer buy it? What problem is being solved?
  • What's amazing about the team?
  • How does the company make money?
  • What traction does the company have?
  • How does the investor make money? Exit? Interest? Dividends? NOTE: Discussing specific terms is not allowed during the meeting.
• An OAN Member, acting as Coordinator, will connect all interested investors and professionals contributing to due diligence with the company.
• OAN Members will perform their own coordinated due diligence, followed by negotiation & investment if interested. Special Purpose Vehicles among Members are an option as well.

Process:

• Apply now!
• Application is reviewed by OAN Committee. Feedback will be provided whether company advances or not.
• If approved to advance, you'll be requested to meet for a practice pitch and feedback session before presenting to the OAN.
• If approved to advance, you'll be scheduled for the next available pitch night.

Required Documentation for this Application:

• Business information.
• Pitch deck in PDF format. If you have the pitch deck in both presentation and leave behind formats, please include both.

For questions about this program, please contact: