https://www.parkcityangels.com/

Introduction:

In this episode of "Owl Insights," hosted by Timothy Lipton from Momentum Finance, the guest is Robert Copeland, a seasoned executive with extensive experience across various industries, including oil and gas, telecommunications, aerospace, and technology. Robert discusses his background, career journey, and insights into the startup ecosystem, particularly his involvement with the Park City Angels, an angel investing group in Utah. The conversation explores Robert's career path, his move to Park City, and his role in evaluating and mentoring startup founders.

Overview and Key Points:

1. Robert Copeland's Background:

- Robert has a broad background, having worked in engineering, operations, program management, and finance.

- He started his career in the oil and gas industry with Mobil Oil, worked in various locations globally, and transitioned into finance by earning an MBA.

- His career spans roles as COO and CFO across industries like telecommunications, aerospace, and technology.

1. Career Highlights:

- At Mobil Oil, Robert worked in engineering and operations, gaining experience in trading and refining in Singapore.

- He joined Starbucks in Seattle, where he was part of a profit improvement group focused on supply chain and operational efficiencies.

1. Move to Park City and Involvement with Park City Angels:

- Robert and his wife chose to live in Park City for its outdoor lifestyle and proximity to skiing and mountain biking.

- He joined Park City Angels, becoming involved in the screening group that evaluates startup pitches and narrows them down for potential investment.

1. Insights into Startup Evaluation:

- Robert discusses the importance of the founding team, domain expertise, startup experience, and culture.

- Park City Angels look for founders who are coachable, open to feedback, and willing to collaborate.

- They screen about 60 companies a month, narrowing them down through a structured process to select those for investment.

1. Angel Investing Strategy:

- Park City Angels invest in a diverse range of startups, from tech to life sciences, based on risk and potential return.

- They consider factors like team strength, traction, revenue, and funding needs.

- Robert shares insights on SAFE (Simple Agreement for Future Equity) notes and the importance of honesty and integrity in founders.

1. Fund Structure and Mentoring:

- The Park City Angels fund invests alongside members when certain criteria are met, spreading investment across multiple companies.

- Robert emphasizes the value of mentorship and the benefit of domain expertise provided by angel investors.

1. Process and Timing for Investment:

- The process from application to investment can take at least 60 days, involving initial screening, pitch meetings, and due diligence.

- Park City Angels encourage in-person pitches for higher success rates.

1. Advice for Founders:

- Robert advises founders to be honest and prepared to answer tough questions.

- He highlights the importance of having a clear pitch deck and understanding the financials.

Summary:

Robert Copeland shares his extensive career experience across multiple industries and his current role with Park City Angels, where he evaluates and mentors startups. He emphasizes the importance of a strong founding team, coachability, and honesty in founders. Park City Angels employs a structured process to evaluate startups, offering both financial support and mentorship. Robert's insights provide valuable guidance for founders navigating the early stages of fundraising and highlight the critical role of angel investors in the startup ecosystem.