REAL Exclusive Magazine

The Gulf Coast Venture Forum

By Sara Hand

Photo by Lori Sax

We already know that Southwest Florida (SWFL) is a great place to retire. Yet more than just a place to retire, golf and fish; SWFL has also become a place where entrepreneurs looking for quality lifestyle are choosing to build their businesses and choosing to relocate. With many of these companies at an early stage of development and often pre-revenue, they may not yet be headliners for news. However, in an economic climate that becomes more and more entrepreneur friendly, it won’t be long before they do become known.

Left to Right: Lucienne Pears Business Development Specialist Charlotte County EDO, Mark Huey President and CEO Sarasota County EDC, Sharon Hillstrom President and CEO Manatee County EDC

Into this entrepreneurial landscape, welcome the Gulf Coast Venture Forum (GCVF). An angel investor network with chapters in Sarasota and Naples, the GCVF supports the entrepreneurial and business communities by organizing angel investors. SWFL is home to a significant number of individuals with the means to be considered accredited investors according to the SEC, and is a part time residence to even more potential investors.

The GCVF exists to bridge the gap between the entrepreneur and the potential investor. During 2011-2012 investment season we received 246 business plan submissions through our business vetting process and facilitated potential investment for the 22 companies that were chosen to present to the organization in both Sarasota and Naples venues.

Why angel investors? According to the report The Angel Investor Market In 2011: The Recovery Continues by Jeffrey Sohl from the Center for Venture Research at the University of New Hampshire:

“Angel investments continue to be a significant contributor to job growth with the creation of 165,600 new jobs in the United States in 2011, or 2.5 jobs per angel investment.”

With early stage investments recovering this last season from a 2009 and 2010 slump, angel investors benefit through participating in angel networks by sharing the work of due diligence and deal flow management among themselves. Through an investor network like the GCVF, entrepreneurs benefit by gaining exposure to wider set of potential investors and a structured process that facilitates a relatively quick and efficient investment decision.

Most early stage ventures suitable for seeking angel investor funds have the potential for significant growth and compelling exit strategy. Typical individual investments for companies that successfully move through the due diligence process range from $25,000 to $100,000 per transaction, and are typically in the range of $250,000 to $750,000 per angel group.

Within the SWFL community, we are seeing the rise of a healthy eco-system. A healthy eco-system fosters economic development and facilitates the growth of companies from the earliest stages of development through potential public offerings. There is an availability of educational resources through institutions such as colleges and universities as well as support from organizations such as Economic Development Corporations, SCORE, SBDC and more as well as adequate sources of funding. Through collaboration and strategic partnerships, we see an exciting change in this landscape that will be a significant part of our value proposition as a region.

Membership in the Gulf Coast Venture Forum has its benefits! We host six meetings each season for investors to view potential investment candidates. In addition to the opportunity to invest, our members also enjoy the benefits of qualified deal flow, community vetting, mentoring future business leaders, pooling capital for better terms and co-investing with local VCs. Membership is open to accredited Angel Investors as defined by the rules of the U.S. Securities and Exchange Commission (www.sec.gov).

The GCVF 2012 – 2013 Season will begin with the annual Kickoff Meeting on Thursday, November 1st, 2012. The event, co-sponsored by the Florida Venture Forum, Tamiami Angel Fund I and Small Business Development Center of Florida Gulf Coast University, will feature keynote speaker Ray Leach, CEO of JumpStart.

At the Gulf Coast Venture Forum, we are looking for great entrepreneurial funding opportunities. These we evaluate based on management team, market opportunity, growth potential, as well as other factors. To stand out from the 20-30 plans we receive each month, make sure that you meet our investment criteria and that you are fully prepared with a polished business plan and presentation. To become a member or find out more about applying to present for funding, go to GCVF.com. 

Managing Partner for S P Hand and Associates, Sara Hand specializes in developing creative strategies for business growth with a strong focus on implementation. She is President of the Sarasota Chapter Gulf Coast Venture Forum, co-founder of BarCamp Sarasota, on the Board of Directors for the Sun Coast Technology Forum and is involved regionally in collaborative efforts for Entrepreneurial Support organizations across SWFL. Sara may be reached at (941) 228.4033 or sara@sphandandassociates.com.