When it comes to funding, a warm introduction matters. As a colleague responded when I shared this idea: “This is sales 101.” Yes, it is, but the challenge is that most entrepreneurs don’t have sales backgrounds. They don’t realize the critical importance of a warm introduction.
David Hornik of August Capital wrote a basic but important piece on the importance of getting an introduction when pursuing venture capital funding. The reality is that this is not specific to VC funding at all. The corollary for angelMD is that startups are going to have the highest degree of success raising money with our network if they are introduced through one of their physician investors or advisors.
Startups that don’t have physician involvement are behind the eight-ball because our investor network is comprised of physicians. This doesn’t mean the end of the line, but it does mean a startup needs to consider building momentum from this base because physicians will be their advocates within the network.
Read Hornik’s full article here
Find the best in healthcare innovation. Join angelMD today.
Image Credit: Pixabay