Ideas Meet Investors At Angel Venture Fair in Philadelphia
PHILADELPHIA (CBS) -- Everyone's in it for the money in a "matchmaking" event this coming week in Philadelphia. Nearly three dozen startups are looking to woo angel investors with their ideas.
There are treatments for cancer and vitiligo; a smart training system for athletes; a decision-making app for when friends are at loggerheads over where to go for dinner.
"The big thing we look for is it is a scalable business with a great management team who can drive this home and make the investors money," said Marc Kramer, who heads up the Angel Venture Fair.
It's set for Friday at the Union League.
"It's the largest gathering of entrepreneurs meeting wealthy people -- that's angel investors -- in the mid-Atlantic region," Kramer explained.
From more than 230 companies from 28 countries, organizers whittled the list down to 34 who will make their case to those who can write checks (and who have a history of doing so).
"Maybe $15 million to $20 million over the course of 19 years," said Kramer.
Kramer, who's also executive-in-residence at St. Joe's Haub School of Business, says 10 of the prospects are from local universities; a sign that entrepreneurship programs are paying off.
