Great Lakes Angels

All Executive Summaries need to be received and accepted at least 60 days before an event to be considered for presenting to the group. Great Lakes Angels seeks deals that are based in the Midwest only (Michigan, Ohio, Indiana, and Ontario). We are not seeking life style, family owned, Real Estate or retail businesses.

If you are selected to present, you will be notified approximately 3 weeks before the event date. If you are not selected to present, your Summary may be considered for a later presentation if you resubmit it. While it is visible at the GLA Angelsoft website, you can make updates to it at no additional fee.

The Great Lakes Angels Process

PHASE I - Application

Make sure you are satisfied with the Executive Summary you intend to send for review. You only have one “first impression”.

When you send your Executive Summary (see criteria below) you will be required to complete an Application and upload your Executive Summary and pay the $100 fee to submit this data. This assures you that all the Members of GLA can view it in a password control access site while you are being processed through the screening program. This process also assures you visibility to all GLA Members regardless of being invited to present or Members missing an event. It will be visible at the website for a 3 month minimum and then removed it is not selected to be presented. You will have the benefit of having it visible to the entire Membership for this period of time and will have generated a one page summary of your deal that you can use with others during your fund raising activity. If you are selected to present, this one page summary is helpful if we need to syndicate your deal with other angel groups in the Region.

(Follow additional guidelines below)

PHASE II - Preliminary Review

A pre-screening committee reviews the Executive Summary. If it is favorable, the applicant is invited to present to monthly screening committee meeting. If not, the Executive Summary is returned with comments.

PHASE III - Screening Committee Presentation

Applicant presents to the screening committee and the best are invited to present to next monthly GLA Event.

PHASE IV - next monthly GLA Event

Applicant presents to the next monthly GLA Event. The group is polled, interested members are invited participate in the initial Due Diligence phase.

PHASE V - Due Diligence

Meeting is set up with Applicant and interested Angels to further investigate possible Angel involvement. If Angels are still interested, we continue with due diligence to conclusion.

PHASE VI - Negotiations

Subsequent to the Due Diligence, the investor(s) will begin the negotiation process with you if they are interested in the deal and terms. The time frame for this is entirely up to all the parties involved.

Please submit Business Plan information to the Great Lakes Angels in the following way to be considered:

1. The initial review will be done only on EXECUTIVE SUMMARIES (the Angelsoft application generates a summary as well); please do not submit Business Plans.

2. The Executive Summary must not be longer than 4 pages (excluding the cover page).

3. The Executive Summary must be Microsoft Word or PDF documents and in a 12 point font

4. The Executive Summaries should have the following elements in them, for review,
to be selected for an in-person presentation by company representatives
  • Problem being addressed
  • Market need, size and your solution
  • Product or Service explained
  • Technology
  • Competition
  • Sales and Marketing Strategy
  • Intellectual Property (what is protected and how)
  • Management team
  • Use of Proceeds and amount being raised
  • Financial overview and assumptions (example below)
Revenue ($000)

YR 1

YR 2

YR 3

YR 4

YR 5
  • Exit strategy and valuations
5. A Screening Committee, who will recommend the ones to be presented in front of the group, will process the Executive Summaries.

6. If you have an investor Champion or Sponsor that has first hand knowledge of your business and is a possible Great Lakes Angel member, be sure to point that out. We like to have an investor champion introduce the company, if selected to present.

7. If you have been considered before and this is an update please bring attention to this fact.

8. By sending your Executive Summary to the Great Lakes Angels for consideration you grant permission for Great Lakes Angels to post this information at their website and to hand out at their events. Do not include CONFIDENTIAL information in what you send to us.
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