We strongly encourage applicants to review our overview and requirements below before applying for funding.
Link to apply for STAN funding: https://asw.angelsoft.net/apply/stan
Link to apply for ETF funding: https://asw.angelsoft.net/apply/satai
Application Overview:
Thank you for inquiring about SATAI.
By way of brief overview, it would be useful to discuss SATAI, its charter, and how we can help you with your venture. SATAI (San Antonio Technology Accelerator Initiative) works with entrepreneurs in the South Texas area to provide assistance in preparing their ventures for investment funding. SATAI is a non-profit 501(c) (3) organization funded partially by the City of San Antonio, Bexar County, the State of Texas, and The University of Texas at San Antonio. SATAI’s charter is to provide this assistance to those technology based companies which have the potential for high short-term growth and whose principal place of business is, or will be, located in the south central Texas area. Additionally, SATAI acts as the South Texas Regional Center for Innovation and Commercialization (RCIC) for the Texas Emerging Technology Fund.
For our purposes, a 'technology based' company is typically one which owns or controls the core Intellectual Property (IP) upon which the venture is based. This IP has been, or can be, protected by U.S. patent laws. It should be said however, that a patent, in and of itself, does not guarantee the attractiveness of a venture to the investment community.
SATAI provides two basic funding sources. The following is a brief explanation of each. You may apply to both sources if you meet the minimum requirements and you are, in fact, encouraged to do so.
1.Texas Emerging Technology Fund
The Texas Emerging Technology Fund is a $200M fund created by the Texas Legislature to invest in early stage Texas-based technology companies. We would encourage you to review the material closely to determine if your venture meets the requirements of the Fund. We would like to emphasize the fact that the ETF is not a grant program.Should the State choose to invest, the State will actually take an equity position in your company.You should also review the Fund’s website at:
http:/www.emergingtechfund.com/
SATAI serves as the portal for the Fund in South Central Texas covering 32 counties which run generally from the San Antonio metro area to the Corpus Christi metro area. A detailed map can be found at:
http://www.governor.state.tx.us/files/ecodev/ETF_Regional_Map.pdf
After reviewing these materials you should ask yourself several questions about your venture to determine if you meet the fundamental requirements of the legislation.
·Is my venture based on my selling or leasing a product which is a new or innovative technology (Intellectual Property)?
·Can I patent or otherwise protect this Intellectual Property?
·Have I collaborated (or can I collaborate) with an institution of higher education in Texas on some phase of this venture?
·Will the principal place of business of my venture be in Texas at the time I file my application to the ETF?(Sorry, we are unable to process applications that stipulate the venture will re-locate to Texas conditioned on funding.)
If you can answer these questions in the affirmative, we would encourage you to go online and complete our initial application.
https://asw.angelsoft.net/apply/satai
Once we have received your application a SATAI staff member will review the information and get back to you if there are further questions.Additionally, you will be advised of additional documents that may be required of your application.
Should your application be accepted there is a $250 application fee.This may be remitted by check or credit card.
If you cannot answer these questions in the affirmative at this time we would encourage you to speak with a staff member in one of our sister organizations within the Institute for Economic Development of UTSA (http://iedtexas.org/). You may wish to look at the Small Business Development Center (http://sasbdc.iedtexas.org/) or the SBDC Technology Center at http://tech.iedtexas.org/.
2.South Texas Angel Network (STAN)
STAN is comprised of a group of private investors in the south central Texas area that have interest in investing in technology startup companies which have their principal place of business in south central Texas. These individuals are accredited investors as defined by the SEC. STAN is not a fund. Investment decisions are made by each individual member (or sometimes groups of individuals).
The process to present an investment opportunity to the STAN membership is simple and straightforward.
Prepare and submit an application online at
https://asw.angelsoft.net/apply/stan
a.The application consists of a series of sections and topics about your deal. This will generate a one page summary of your opportunity which many investors use to initially screen their investment opportunities.
Do not be concerned if you cannot answer these questions completely at this time. SATAI will work with you to complete the information after your initial submission. This initial submission helps SATAI assess the nature of the venture and its relative maturity in the development cycle.
b.You are strongly encouraged, but not required, to provide the video. Take a look at this article by an angel for good reasons why. http://blog.angelsoft.net/2008/05/04/
SATAI has arranged for you to have access to a studio and video equipment. Please arrange with the SATAI Office Manager for your use of this equipment. You are encouraged to use these facilities rather than your own to save expense.
c.Once submitted, a member of the SATAI staff will review your submission and get back to you with any questions.
c.If your opportunity is located outside of the south central Texas area, STAN will consider such an opportunity provided the opportunity is referred by some other Texas based angel network.
d.PLEASE MAKE SURE THAT YOU DO NOT SUBMIT ANY MATERIALS THAT ARE MARKED ‘PROPRIETARY’ OR ‘CONFIDENTIAL’. SATAI and STAN cannot accept any documents so marked.
A member of the SATAI staff will be notified of your application and you will receive an acknowledgement that you have submitted an application. We will contact you shortly to discuss your application and ask any questions we might have.
There are currently no fees associated with your application to STAN although the issue of application fees is being considered.
Check the following link for the STAN calendar:
http://www.satai.us/investment/investment_stan.html
Once again, please review this information and select which option you feel appropriate for your venture. We encourage most ventures to apply for both. Typically the only distinction between the ETF and STAN is the ETF requirement of collaboration with an institution of higher education.
We look forward to working with you.
