Innovation Bay kicks off applications for first 2012 angel dinner

Local tech start-ups seeking funding are being encouraged to apply for a spot at the next angel dinner to be hosted by Innovation Bay, which is calling for video submissions by February 10.

Based in Sydney, Innovation Bay was founded in 2003 by Phaedon Stough and Ian Gardiner, with the aim of facilitating business opportunities between entrepreneurs and investors.

Members of the Innovation Bay network include senior business leaders and venture capitalists throughout Australia, with a strong tech focus.

In addition to regular breakfast networking events, Innovation Bay holds invitation-only dinners for small select groups, providing a more intimate environment in which to network.

To date, the organisation has helped Australian entrepreneurs raise more than $10 million in seed investment as a result of the dinners it has hosted.

Now it’s calling for video submissions for its next angel dinner on Tuesday, February 21. The deadline for submissions is Friday, February 10.

“We thought we should give plenty of notice with the festive and holiday season fast approaching,” Stough says.

“If you have a business in the high-tech space that is looking for funding, you might be interested in pitching.”

Here’s what you need to do:

• Submit a 90-second video (any format is acceptable as long as it doesn’t exceed the time limit) to info@innovationbay.com.
• Describe your business and explain why you should be selected.
• Explain your value proposition in a strong and punchy format.

“We want to know why you are poised to succeed and why someone would want to invest in your business,” Stough says.

Your value proposition should include:

• A business overview, including who you are, what you do, your experience, your team, etc.
• The problem you are solving and how you offer a different solution.
• The market, including size and opportunity.
• Investment, including the amount you need, what you need it for, and why someone should invest.

“The top 12 videos, as selected by our panel of experts, will be uploaded to Innovation Bay’s angels’ website (private log-in access only) where members can vote and further discuss your business with you,” Stough says.

“The four pitches that receive the highest votes from our members will be invited to present at the angel dinner.”