By Laura Dempsey
A Wright Brothers Institute (WBI) goal is to connect small businesses with opportunities to work with the Air Force. WBI bridges the gap that may exist between small business capability and Air Force need, using the Air Force Small Business Innovation Research (SBIR) program to back T3 initiatives and bolster small businesses in their quest for Air Force partnerships.
Often, these initiatives require financial backing in addition to the federal dollars awarded in any contract. WBI identified an untapped resource to fill this gap: Angel investors, typically an individual or group with cash available, looking to invest in projects seen to have great potential.
Scott Springer, WBI’s Director of Collaboration and Development, observed that “to-date, there has been no formal relationship with the larger regional angel investor groups, such as Queen City Angels (QCA) or Dayton Development Coalition's Accelerant Fund, to support Air Force SBIR-backed companies.”
Springer is seeking to change that.
Springer is spearheading an “Angel/Venture Capital Investment Boot Camp,” with the goal of educating Air Force SBIR-backed companies about angel investors. The companies will learn from seasoned angel investors about how they evaluate and choose their investments, better positioning the companies to present their value proposition to private investors.
The planned result is to increase the likelihood of AF SBIR-backed companies in securing funding for both beginning, sustaining and expanding their business operations.
A planning session was held in early March with multiple constituencies in attendance; the parties were optimistic about the effort and agreed to work toward refining the Boot Camp’s agenda. The parties are working toward a July 2020 Boot Camp, to be held in Dayton, Ohio.