The producers of business reality TV Angel’s Gate – which saw budding entrepreneurs pitch directly to angel investors on television – will be back for a second season.
Digital media company and new business accelerator Interactive.SG today announced a call for submissions for more business ideas and concepts from around the world for a chance to pitch on the show.
The first-ever season of Angel’s Gate saw 22 business ideas – culled from hundreds submitted from around the world – get critiqued on the air. It wasn’t all smooth sailing – the show did see a startup turn down an investment offer, while others lambasted it for taking advantage of startup entrepreneurs.
“The format of the show elicited a range of responses but we’re delighted with the positive feedback and support from the start-up and investor communities,” says Ash Singh, CEO of Interactive.SG and creator of Angel’s Gate. “Angel’s Gate has proven to be a great platform for entrepreneurs looking to create awareness of their new business ventures.”
“The entrepreneurs we met in Season 1 were hungry for funding and publicity. And those who were really focused got what they wanted and more. Over the course of the eight episodes, entrepreneurs were offered more than US$1.5 million in funding,” adds Ash.
One such success story is John Fearon, founder of DropMySite.com (previously featured here), who appeared in Episode 8 of Season 1. “Participating in Angel’s Gate has been a real life-changing experience where my business is concerned. Before coming on the show I was prepared to negotiate in a high pressure scenario and understood what terms I would accept. The funding we received after the show helped me grow the business and we now have 670,000 signups for our two websites www.Dropmysite.com and www.Dropmyemail.com,” says Fearon.
“Angel’s Gate also provided me the opportunity to gain the knowledge of experienced businessmen as well as give me much-needed exposure. Subsequently, we have been raising additional follow-on funding at a much higher company valuation. No doubt, my experience on the show helped me to engage investors, foresee challenges in obtaining funding and gain their insight and collaboration,” he adds.
Season 2 will see a crowd-funding component as well. “Crowd-funding is the ultimate opportunity equalizer. It puts the power into the hands of anyone and everyone who wants to support great ideas,” Singh shares. “We are planning to extend the length of the show so viewers can understand the mindset of the entrepreneur. We will also add some personal touches such as going into their homes and talking to their friends and family members.”
“This is to enable the audience to identify and fall in love with the person behind the idea.”