Angel investors can certainly be a lifesaver for entrepreneurs, and they’re an increasingly common source of funding. Last year, nearly $24.1 billion in startup cash came from angel investors, and that leads many with ideas of shaking up the business world with a taste for these great investment opportunities. Before you can get an angel investor, though, it’s important to understand what they’re actually looking for in a company. A recent Forbes article outlined several. Here are just a few of the highlights.

• Serious Passion: Some people want to create a business. For others, though, creating that business becomes an absolute obsession. They have excitement and enthusiasm others just don’t, and they’re committed to making it work in any possible way. Those are the people angel investors want to work with. That passion has to come out in everything you do for your company, and if it does, it will certainly show.
• A Market Opportunity: It’s unfortunate, but there’s not a need for every product created. If there’s no clear market opportunity available that may provide a serious payoff, angel investors are far less likely to be interested in a startup. While you may see the opportunity, simply having ten of your best friends interested in buying the product doesn’t represent a real chance at it taking off in the near future.
• A Business Plan: Sure, many businesses are created every day without a business plan. While it is possible to run a startup with no plan in place, it’s not going to be possible to get the funding you need without that plan. They want to see that you know where you’re going with your products. You have to be able to demonstrate that with a formal business plan, or they’re going to move on to the next company.

It’s tough to know whether an angel investor might be interested in your product, but there’s one way to attract a bit more attention – iFestival. Book your opportunity to meet with the best angel investors now!