Recently, a number of angel networks and seed fund managers in the state of New York came together to form a New York angel network to facilitate co-investment in New York State. Groups from NYC, Rochester, Buffalo, Albany, Ithaca and other parts of the state were in attendance

As was befitting such an entrepreneurial group, the building blocks for the association quickly fell into place, starting with a renaming of the group from TIFFUNY: Technology Investors’ Forum for Upstate New York to NYAN: The New York Angel Network. This more inclusive name reflected the active participation of several downstate angel groups, and the realization that encouraging inter-group deal flow would be of great potential benefit in both directions. In addition, a statewide group will also have a stronger, more unified voice both at the legislative level and in discussions with the Governor’s Office, which are already ongoing.

NYAN immediately began taking shape as attendees stepped forward with offers of support and participation. Roger Williams of Cornell of Cornell University’s Tech Transfer Office accepted the role of interim Chairman of the organization, and David S. Rose as Vice Chairman. Angelsoft offered to donate a full web site along with its angel management system, and Paul Sciabica of New York Angels agreed to manage the administrative end of the system.

Entrepreneurs will be able to upload their business plans through the new site, and the various gatekeepers of the participating angel networks will each have access to this Angelsoft NYAN system. They will be able to ‘self serve’ plans both into and out of the NYAN network. Each angel group will also be able to share deals from their own deal flow with the other networks in the state by utilizing the unique syndication features built into the platform. Through the sharing infrastructure of Angelsoft, this dispersed network will be easy to maintain.

If I took one thing away from this meeting it’s that angel groups see the value in sharing their collective knowledge to funnel deals to the most appropriate group.
Welcome to Angelsoft NYAN!

Ryan Pipkin :: Apr.25.2007 :: Events ::