The business starts with an idea to meet an unfilled need in the market. Time and work is committed to prove it works and people will find enough value to buy.
But after initial funding from family and friends runs dry, it’s usually too small and risky for institutional players to touch.
However, if founders can prove they have something real that is ready – or almost ready – to be sold, startups may turn to so-called angel investors for their critical first outside capital.
“If you look at the dimension of the money…
