Venture capitalists and angel investors spoke about resources to support and grow small businesses.
By Tracey Edwards
An eager crowd of small business owners and entrepreneurs attended a panel discussion with venture capitalists and angel investors that was hosted by the Greater Los Angeles African American Chamber of Commerce (GLAAACC) and UCLA Extension.
The goal of this event, which took place at GLAAACC’s Ladera Heights office, was to increase business owners’ understanding of venture capitalists and angel investors, and to provide resources that will support their business and growth development.
“GLAAACC’s mission is to help small businesses through educational workshops, networking and access to capital,” said Chanel Frampton, director of programs at GLAAACC. “This panel was a wonderful opportunity that educated small businesses on how to be competitive for venture capitalist funding. It also distinguished the difference between venture capitalists and angel investors and in what scenario should you approach either one.”
The panel included Kemar Newell, founder of Flip, the “eBay for the Snapchat generation;” Brian Horner, a member of Tech Coast Angels; Austin Clements, Senior Associate at TenOneTen Ventures, an early stage venture capital firm based in Los Angeles; and Joe El Randy, an investment banker.
The panel discussed the types of funding that entrepreneurs should seek and how to approach investors.
GLAAACC has a partnership with UCLA Extension, which has certificate programs and classes for entrepreneurs and small business owners.
GLAAACC advocates and promotes the economic growth and development of the African American business by focusing on legislative advocacy, as well as identifying and developing business opportunities and strategic business alliances. The organization hosts monthly meetings, workshops, and mixers. Their next event will be New Members night, which will be held on Wednesday, May 24, 5:30 p.m. - 8 p.m. at the L.A. Hotel Downtown.
“The annual Membership Night Mixer is an occasion for our new members to be introduced to the GLAAACC Community,” Frampton said. “This event is particularly special because the Los Angeles World Airports, one of our community partners, will be conducting a presentation on the new Airport Initiatives and how small businesses can be apart of the development.”
This event gives entrepreneurs and small business owners an opportunity to make new contacts and enjoy food and live music in a social setting.
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