Alex Bates, founder of MTEL and angel investor, discusses why he is focusing on building AI angel syndicates and incubators rather than running a single company.
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“One of the challenges we face, and I've seen other companies face, is for angel investors, there's a lack of knowledge to get the confidence to invest in these seed stage startups, and then startups have trouble connecting”
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Disclosure
Bates: The Sandbox Takes 5% Equity in Incubated AI Startups
“So we take five, five percent equity and we have different investment models and of course offer, in addition to the free free office space, the whole we have some law firms we partner with to get discounted or free work on patent development. And accounting a…”
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Disclosure
Bates: MTEL raised $2M split between equity and a royalty structure
“Yeah, we took in two million one of which was equity and one was sort of a royalty arrangement.”
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