Good news for local entrepreneurs: Tech Coast Angels' Los Angeles branch has launched a program to fund start-ups in 30 days or less.
Michael Green, president of the L.A. branch of Tech Coast Angels, said the Screening2Deal in 30 Days program would speed up the process to get start-ups off the ground. The move is also designed to raise TCA's profile among entrepreneurs, who often seek out funding from more well-known investors or accelerators in the area, he said.
"It was taking too long and the reputation unfortunately was these guys are old and slow," Green said of TCA. "We were getting plenty of deal flow -- we get 1,000 [applications a year] -- but if you want to talk about quality deal flow ... we weren't the first call. We had to turn that on its head and say we're not old and slow, we're actually active."
Formed 16 years ago, TCA is made up of five regional SoCal networks -- L.A., Orange County, San Diego, Santa Barbara and the Inland Empire -- and currently has more than 300 members (104 of them in L.A.).