What is the mission of MIT Alumni Angels of Boston?
Our mission is to foster a vibrant MIT community around entrepreneurship and innovation by connecting MIT-affiliated startups with MIT alumni who invest in and support early stage startups. We screen MIT startups founded by alumni, faculty and students in the New England area, and select a promising subset of those companies to present at our quarterly pitch events. The companies we work with not only get the opportunity to receive angel investments, but also get access to valuable expertise, mentorship and connections from our angels.
What is the connection between MIT Alumni Angels of Boston and MIT?
We are affiliated with the MIT Alumni Association. The opportunity to be an angel investor in the group and the opportunity to present your startup to the group are open to the entire MIT Community.
How do you define an MIT-affiliated startup?
A member of the founding / management team, board of directors, or an advisor is an MIT alum, faculty / staff member or a current MIT student.
Can my startup still apply to pitch even if it is not affiliated with MIT?
Yes. While we have a strong preference for MIT-affiliated companies (see above for definition), we are open to reviewing all early stage startups seeking financing and aim to be helpful to the broader startup community.
How are investments made? Is there a fund?
We organize pitch events where startups present to the group and we facilitate follow up conversations between the investors and the companies where necessary. We do not recommend specific investments and we do not run a fund for our group of angels. Members of the group make their own investment decisions and invest their own individual capital directly into startups. It is also up to the companies and the angels themselves to structure any advisory or board relationships as they see fit.
If I’m a startup, what is the process to present the group?
You are applying to be selected to pitch to a group of MIT alumni angel investors in Boston at one of our quarterly pitch events. Many of the startups that have presented at these events have secured angel funding, and some have also then gone on to raise significant institutional venture funding. To apply to pitch to our network of angels, please fill out this form. If your company is a fit for our group, you will be contacted by one of our committee members for additional information or to schedule an initial screening conversation. We receive large volumes of startup applicants and while we try our best to keep up and be helpful to founders, we cannot guarantee a conversation with every company. Once we engage, we will typically make a decision as to whether to invite a startup to present after one or two conversations.
What are the requirements for joining the group as an angel investor?
We require that 1) you must have an MIT affiliation (alum, faculty, student etc.) and 2) you must be an accredited investor according to the SEC definition. If you meet those requirements, please apply to become an angel investor member by filling out the form here.
What does it mean to be an "accredited investor"?
For a description of the criteria, including income and/or net worth, please see the SEC website.
What if I am an MIT alum, but not an Accredited Investor or a founder of a startup -- is there another way I can get involved and help out?
Yes, please email the co-founders Wan Li Zhu (wlz@alum.mit.edu) and Ishan Sachdev (is@alum.mit.edu) about how you’d like to be involved with the group.
Are there sponsorship opportunities?
Yes, we host our quarterly pitch events at sponsor venues and appreciate support from our sponsors in providing food and drinks for our attendees, as well as event management and administrative help. Please email the co-founders Wan Li Zhu (wlz@alum.mit.edu) and Ishan Sachdev (is@alum.mit.edu) if you are interested in sponsoring our events.
