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NWEA Blog: Cleantech Investor Insight
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What People Are Saying

"Northwest Energy Angels has been vital to Farm Power Northwest's transition, from a start-up with an idea to a growing biomass developer with a completed $3.5 million biodigester. Lead investor David Bangs and other NWEA members provided invaluable encouragement, financial backing, and political support. Even presenting was a great experience; any entrepreneur trying to make a difference in the clean energy industry should apply for the opportunity."

Kevin Maas, President
Farm Power Northwest, LLC

Northwest Energy Angels Selection Criteria

Overview

We look only at companies in "cleantech" or "greentech" and invest in seed, A and sometimes B rounds. Our geographic focus is the Pacific Northwest (Washington, Oregon, Idaho, Montana, British Columbia and Alberta) but we look at deals from other regions, particularly the Western U.S. Although we welcome companies with "chiseled-in-stone" term sheets, we are experienced in leading both seed and A rounds.

Criteria For Selection To Present

Among the attributes we look for in the companies we select to present are:

  • A proven management team with relevant successes
  • A credible and balanced business plan (not just a product or service) which includes key execution milestones that are realistically achievable with the proceeds from this round
  • A clear path to profitability. If your company will require additional financing rounds, evidence that it will be attractive to subsequent funders based on achievement of the milestones funded in this round
  • A differentiating technology, process or model that is in an advanced stage of development.
  • A compelling customer value proposition. Customers should have an important problem that your company’s product or service solves at an affordable price
  • A market large enough for your company to generate a minimum of $20 to $30 million in annual revenues (based on a reasonable market share) within 3-5 years and a reasonable possibility of venture-scale returns for investors (15x-30x in 3-5 years)
  • A defendable competitive advantage, including registered patents and/or other barriers to competition
  • A clear and documented understanding of the competitive landscape
  • A reasonable valuation (generally $750,000 to $1,500,000 for seed stage companies)
  • A net funding need that does not exceed $1 Million
  • A realistic exit strategy for investors

The members of Northwest Energy Angels (NWEA) are value-added investors, providing both capital and expertise to help cleantech entrepreneurs succeed. Our goal is to aid the companies in which we invest to become highly profitable for both management and investors. If your company is ready for our capital and expertise, we welcome your application to present. Prior to applying, we highly recommend that entrepreneurs read about our funding process.

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