The Trident Angels is a network of successful business leaders interested in investing their money and experience into ventures that have the potential to grow and create value. The members meet quarterly following several stages of review in order to make their investment decisions. The Angels operate within predetermined guidelines and code of ethics; however deals are negotiated independently by the investors and entrepreneurs on a deal-by-deal basis.
Entrepreneurs who meet the investment criteria should complete the application form available on the Barbados Entrepreneurship Foundation website: www.barbadosentrepreneurshipfoundation.org and submit it to firstname.lastname@example.org. Applications are reviewed three times per year based on the following submission deadlines: March 31, July 31 and November 30.
Investment criteria for the Trident Angels – Looking for the right entrepreneurial profile
The most promising entrepreneurs have the passion and commitment necessary to succeed. These characteristics are essential but insufficient. Entrepreneurs must also demonstrate the managerial rigor required to plan, implement and monitor their strategy and operations effectively. If their plan and budget are funded, the angels will provide invaluable support and require some conditions to be met. Such requirements will be described in the Term Sheet and Investment Agreement through equity ownership, convertible debts, warrants, appointment of a director to the company board, etc. To be considered, entrepreneurs must recognize angel investors as business partners rather than as creditors, and meet the following criteria:
- The entrepreneur demonstrates strong integrity and a clear desire to learn which translates into a willingness to give up some amount of ownership and control of the company.
- The product/service is already developed and tested.
- There are existing customers or potential customers who will confirm their willingness to buy.
- The entrepreneur has “skin in the game” – s/he invested their own dollars and exhausted other alternatives, including friends and family.
- The company is likely to realize significant revenues and earnings in the next 5-7 years, and produce a return for investors.
- The business is likely to grow rapidly and create employment – as opposed to self-employment.
- The business is registered in the Caribbean, preferably in Barbados.