Pre-screening today (10/27)

I find that when entrepreneurs "see how the sausage is made" is helps them design their own documents and presentations to get through the gauntlet. Today I am pre-screening new deals coming into my angel group.

Some samples from today’s pre-screening (anonymized):

"We offer services for create or grow own small businesses. We estimate our potential market 1.2 billion people… We are creating a website based on “Time Bank” idea and scientific study “The Denationalization of Money”. The relevance and practicality is obvious to a generation brought up on social media. We aim to provide a 21st century business solution."

Based outside of US (very bad, I have no investors with experience in this country). Summary is confusing/unclear (bad). Looks like spam. Time Spent: 15 seconds. Decison: Decline.

"[CompanyName]: first ever titanium fishing equip. co. w/ advantages of a proprietary method of [alloy] production, 10+ pats. pndg. & free media… [CompanyName] mfrs and sells the highest quality [Alloy] fishing rods, rod components, reels & hardware at equivalent prices to industry aluminum & steel products due to its cost reducing proprietary method of titanium production. Fortitude has extensive free media exposure from the founder’s TV show, film, book deal & magazines. And, numerous patents pending, including a revolutionary universal modular design which creates an accesory & upgrade mkt"

Lightly referred by another angel group (so-so). Based in MA (good, close). Consumer products play (very bad, my group has little experience). Lots of abbreviations makes the app look unprofessional (bad). Founders have their own TV show, sounds like some credibility (good). Time: 15 seconds. Decision: decline.

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