By Tim Ryan
Innovate Hampton Roads is committed to supporting the entrepreneurial ecosystem in our region, and part of that commitment involves keeping our community informed about significant opportunities for growth and development. An important deadline is on the horizon for entrepreneurs seeking investment and support: the closing of the 757 Angels 2024 Cycle 1 application window on January 17th.
757 Angels plays a vital role in our regional economy by connecting investors with promising startups. Their focus extends beyond just funding; they aim to cultivate high-impact businesses that can contribute significantly to the Hampton Roads area and the broader Commonwealth of Virginia. This includes supporting ventures that have unique and disruptive products or services, validated market potential and are in a position to benefit from angel investment.
For entrepreneurs, this is an opportunity to join a network that offers more than financial investment. 757 Angels provides strategic advice, mentoring, and connections to a community of experienced business leaders. Ideal candidates for their program are those in the process of raising between $500,000 and $5,000,000. Businesses should have a solid foundation, including a strong management team, a clear understanding of their market and competition, proven technology, a solid sales strategy, and a clear path to growth and exit.
Investors in the 757 Angels network benefit from access to a curated selection of investment opportunities. The organization is selective, focusing on companies that promise a risk-adjusted return and align with the group’s commitment to regional economic growth. Membership is exclusive to accredited investors, offering them a chance to engage in meaningful investments and contribute to the development of our local economy.
The previous year saw significant interest in 757 Angels, with over 125 applications received, demonstrating the vibrant entrepreneurial spirit in our region. The upcoming deadline is crucial for those interested in applying for this cycle. The process is competitive, but for those selected, it represents a significant step forward in their entrepreneurial journey.
We encourage interested entrepreneurs to visit the 757 Angels Application Portal before the January 17th deadline. This is more than just an application; it’s a potential gateway to growth, mentorship, and a supportive network that can help take your business to the next level. Let’s continue to foster a thriving environment for innovation and entrepreneurship in Hampton Roads.
