Frequently Asked Questions

How can I join BioAngels?

You should contact BioAngels as indicated under “Contact us”.

To be a member of BioAngels, do I have to have held an executive appointment in a bioscience start-up company??

No, members have a range of experiences in the bioscience sector, including executive and non-executive positions in early-stage and more mature companies, provision of specialised services to those companies, venture capital funding, establishing companies through university commercialisation arms and R&D expertise either in companies or universities. The key issue to consider is whether you believe you have something of value to add to an early-stage enterprise.

If I join BioAngels, what time commitments are required?

Members are asked to attend one dinner meeting each month – at present the second Wednesday, February through December – at which proposals for equity funding will be presented and discussed. Members rotate chairing these meetings with the chair and the Executive Officer coordinating material for that meeting. If a member decides to invest in a company introduced through BioAngels, he or she should be prepared to provide mentoring support to the company.

What are the expectations for my investments in investee companies?

BioAngels sets no minimum investment criteria.

As an entrepreneur seeking an investment in my company, what do I need to submit to BioAngels?

BioAngels Inc. uses Angelsoft to mange funding requests and to collaborate with entrepreneurs. New entrepreneurs are asked to login as “entrepreneur” on our website and to register and create a username and password. Upon completion of your registration, you will be able to login and fill out the standardised Entrepreneur Application Form.

What is your application process?

The process begins by filling out a funding request application using Angelsoft. You may fill in your application in stages and you can save your work and return to the website to finish your application at any time.

Your funding request applications should be accompanied by the key components of a business plan. On completion of your application and accompanying documents, you will receive a confirmation email from Angelsoft containing a download link where you can access and update your application. A one-page pdf containing uploaded information will be generated and you will be able to preview this pdf during the application process and save it to your computer at anytime.

Thereafter, a private and secure 'deal room' will be created, which is the collaboration centre between you and BioAngels Inc. You will be able to store deal-related documents, exchange messages and receive information from BioAngels members. A BioAngels representative will contact you to communicating the interest level and progress of our application.

Please note that BioAngels members invest predominately in South Australian biosciences companies or in those referred to us by similar angel groups elsewhere.

As an entrepreneur seeking an investment in my company, are there fixed dates for applications?

No, funding request applications may be submitted at any time during the year using Angelsoft.

What is BioInnovationSA and what is the association between it and BioAngels?

BioInnovationSA is a South Australian Government initiative established to assist start-up companies in the bioscience area with specialist advice, training and seed funding. Companies may be referred by BioInnovationSA staff to BioAngels when they are considered as likely to qualify for and benefit from angel investments.

Is BioAngels a Venture Capital fund?

No, BioAngels is a network of investors/mentors who are prepared to invest their own resources in companies that they select through meetings coordinated by BioAngels members.

How much equity financing is possible through BioAngels?

There is no fixed limit, although some preference will be given to applications for modest support and those that enable the investee company to bring a product or service to market.

Does BioAngels charge entrepreneurs for an application for investment funds?

No, processing of funding requests is not charged.

Does BioAngels charge for investments made by its members?

Yes, a modest charge is applied to all initial investments by members in order to cover part of due diligence and administration costs.

How much does BioAngels charge an investee company for the mentoring provided?

Generally there is no charge for a modest amount of mentoring by a BioAngels member who has invested in the company because the member benefits from adding value to his or her investment. If mentoring is sought from a member who is not one of the investors, this would be costed at a concessional rate.

If I seek a modest level of support from BioAngels but need additional funding, can BioAngels assist me locate such funding?

Yes, that is part of our mentoring strategy.

How soon does BioAngels wish to exit an investment?

Each member has his or her own requirements for exiting an investment.

If I am applying for investment funds will I be given an opportunity to make a pitch to BioAngels?

In the first instance, one of our members will be briefed by the entrepreneur about the investment opportunity and that member will make the initial presentation to all members as part of the pre-screening process. If the presentation receives a favourable response, the entrepreneur will be invited to make a pitch at the next meeting. A BioAngels member will assist and coach the entrepreneur with the pitch.

Does BioAngels sign non-disclosure documents?

No, BioAngels receive many business plans and it is our policy not to sign non-disclosure agreements or confidentiality agreements during the pre-screening process. The pre-screening process and the initial pitch should not contain any confidential material.
Funding applications and investment proposals that progress to a due diligence phase will require the signing of a Confidentiality agreement between the investee and BioAngels Inc.