As WAN grew it needed a more sophisticated platform. Even though some were available individually, they weren’t integrated, nor were any sophisticated enough to meet the club's needs. So a few of us, independent of WAN, set out to create an integrated platform that would contain, among other things:
The result is AngelRoot. It took years to build but is now ready and FREE to be used by any alumni angel club, seed accelerator, university entrepreneurship department, angel group, business development agency, conference provider, funding portal, VC, syndicate, investment bank, you get the idea.
If you or your firm, club, group or association serves, funds or otherwise supports startups, you’re welcome to become an ambassador and sponsor up to five networks for free. We’ll also give you a referral code so that you can invite startups to apply to your organization or your programs. If they use the code when they first publish their profile, we’ll waive our normal application fee. That way they'll be able to publish their startup profile on AngelRoot for free. And, if you are an entity and charge your own application fee, we can collect it on your behalf (**).
As an ambassador, you’ll get to nominate an entity for each of networks you sponsor. That entity will be voted on (***) by the members of that network and we’ll share a portion of the guest fees that startups pay when they subscribe. You can nominate yourself (****) even if you are not a nonprofit. In the event, however, that network community members elect to disburse more than 50% of the pool to entities that are not schools, bona fide public charities or private charitable foundations, we will pro-rate the vote so that no less than 50% of the pool is disbursed to serve a philanthropic purpose.
And, as an ambassador, you get to build your own circle. Each circle member will automatically become a member of each of the networks you sponsor. Obviously, we can’t make promises, but if you nominate yourself and build a large circle, your share of the pool may likely be large enough for you to raise your arms in jubilee.
(*) to follow after our beta
(**) we charge a 10% administrative fee
(***) Depending on network activity, we will hold elections as frequently as quarterly
(****) Nominees must be entities
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AngelRoot, Inc. is a New York State Benefit Corporation founded to empower entrepreneurs to cultivate big ideas and advance significant technologies.
No denying the thrill of hearing that your startup was approved for funding or accepted into a prestigious seed accelerator program or being named the winner of a business plan competition. In fact, AngelRoot was originally created to be a platform to help the Wharton Angel Network® (WAN) run such programs and events.
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"Wharton" and "Wharton Angel Network" are the registered trademarks of the Trustees of the University of Pennsylvania.