By Frank Szivos, Angel Investor News Editor

Who: Thea Snyder, Managing Partner of Tech Valley Angels, helps prepare entrepreneurs in their search for funding

Where: Albany, NY

Experience: Helped launch Tech Valley Angels two years ago to promote angel investing in the Albany area. An entrepreneur who started a dot.com company that failed, Snyder saw the need to educate other entrepreneurs about how to find capital equity. Snyder cut her teeth with Bell Laboratories where she rose to Vice President/General Manager then became president of a software company in 1997. Also consulted to entrepreneurs. 

She acts as a liaison between area angels and entrepreneurs to promote deals through TVA. Snyder sits on a review board of six members that screens entrepreneurs’ business plans. Approved entrepreneurs have the opportunity to present before the Tech Valley Angels monthly. The TVA review board will coach and advise accepted entrepreneurs regarding their presentations and business plans to increase their chances of attracting capital. Snyder is also involved in recruiting qualified angels to increase the deal flow. Snyder and other co-founders studied other successful angel clubs in Boston, California and Washington D.C. areas to model TVA. In forming the angel group, they also considered the temperament of investors in the Albany area.

How: Interested entrepreneurs should visit the Tech Valley Angels Website (www.techvalleyangels.com) to fill out an application form. Approved start ups will present (no more than two at a time) to TVA. After the presentation, the group will question screenedentrepreneurs extensively about proposed business plans. Angels are free to make arrangements for further interviews. Entrepreneurs should consider several forms of funding, such as family, friends, banks and community and state organizations.

How Many Deals: Four deals over the last two years. The Tech Valley Angels are interested in a variety of new companies with a proven business concept. The angel group prefers mature companies in technology area. However, the TVA is comprised of angels with broad business backgrounds – technology, retail, finance, manufacturing and marketing. The Tech Valley Angels are not an angel fund, but do individual deals as well as occasionally teaming together to facilitate a deal. TVA presents screened start ups to the angels who are responsible for doing their own due diligence. TVA prefers to do deals with businesses in the area or those willing to relocate.

Tips for Entrepreneurs: Know what it takes to get a product or service to market. Marketing and sales are often the most overlooked variables in a company’s business plan. A great idea or product is not a guarantee of success. Have a plan when and where you will have a product manufactured. Have a sense of how much it will cost to operate a business – consider liability insurance and payroll. Be aware that angels are investors and not necessarily friends. They want to know the time frame of getting a return on their investments. During a downtrend, expect some investors to pull out.

Contact: tsnyder@techvalleyangels.com or 518-283-5385.