The need for entrepreneurial access to mentors and capital in Yukon was made evident through the community consultation process for this project with entrepreneurs sharing the following questions:
What is an angel investor?
What is angel investment?
What is the difference between an Angel Group and an Angel Fund?
Where do I start to access angel investment?
How do I mitigate risk?
How do I deal with the uncertainty of being an entrepreneur?
Questions regarding how to engage in negotiations
Concerns about term sheets and how agreements are made
Should we incorporate and is it costly?
What is the role of incubators and accelerators within an angel investment ecosystem?
In order to address knowledge gaps and increase the success potential of investment opportunities, it is recommended that local innovation centres work with NACO to introduce the Investor Readiness Program with an initial three-month pilot. General Education and Awareness Angel investment is new to Yukon. Increasing awareness of angel investing and providing education to the general public will help to attract potential investors, partners, and champions. It is recommended that this campaign take a broad-based, multi-pronged approach to establish a basic understanding of angel investment initiatives in Yukon. This approach should be balanced across as many sectors, communities, and groups as possible and include a “call to action” for people to learn more. Campaign initiatives should promote the importance of angel investing and focus on the community impact and potential. NACO may be engaged to provide ongoing support in the early development of these initiatives with local investors. Opportunities for a general education and awareness campaign include utilizing media outlets to build awareness of angel investing and leveraging social media, radio interviews, and email blasts to increase public interest and knowledge about angel investment, across Yukon.
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MOBILIZING ANGEL ACTIVITY IN YUKON
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