But stupid startups will at least get weeded out quickly.

Since you said that Jason is confused, why not you try to convince him to remove Angel Den from his list?

I’ve seen Angel Den’s website. I’ve also seen your explanation on why they charge. And honestly, it still looks like the “Model Agency” model to me. All these paying for them to train you, help write business plan and review your investment readiness are bullshit. Look at all the successful companies out there. How many of them uses this kind of “pay to pitch” services? Then ask yourself, if all the reputable angel investors aren’t charging, why should you be paying?

It is NOT like charging to be a model … they TRAIN you to pitch and help you WRITE the Business Plan and REVIEW it for investment readiness then set you up to PRESENT to a room of qualified angels …. IF start-ups ARE ill-informed, it is because they read blogs like yours, where you plagarise others blogs.
If I was looking for money, I would love what they are doing.

Personally I have more faith in the ecosytem than you appear to have, its always easy to follow dk … Mr Calacannis is indeed qualified, but he is also confused
He is comparing angels who charge to meet companies, which is bad, with those companies that provide a service and help you get investment ready and spend time and effort finding angels, who actually have money, rather than those who waste our time at the BANSEA meets I’ve been to.
If you want to compare Apples with Dragon Fruits, more fool you.

I say, let capitalism and your “ill-informed” punters decide, not some third hand rant.
If they meet them and then don’t want to pay they will soon go bust, but I wonder how they manage to hold 5 events a month in Europe and over 7000 pitches last year, if this is the case.
Maybe, just maybe … they might actually be doing something useful … but then that would not get the headlines you need would it dk?

Listen I’m just an investor, not the tech editor but I think we all need to raise our game on this island (and Yes that includes us Angels) and in my experience people are not “ill informed”, but they DO need help.
I know at least 2 other angels who will be joining me in welcoming any angel network that can bring qualified deals to us, indeed I only wish they were coming here sooner!

And I also believe that “pay to pitch” will be very very welcomed here. Not because we are really in need of another funding scheme. But because the startups here are ill-informed. And I think I need to inform the startup here about the controversial surrounding them so that they can make a better decision. If my blog entry don’t make any sense, nobody will bother with me and will still go ahead with these “pay to pitch” scheme.

And I won’t call these uninformed rants. Just google for Jason Calacanis and you’ll see why he is qualified to make those comments on this “pay to pitch” scheme.

They;re Europe’s biggest angel network, held over 7000 pitches last year and DO get companies investment ready and train them how to pitch as well and boy do we need that here in my experience.

If you have all the funding you need, don’t use them, but my experience of the ecosystem here, tells me that that they will very very welcome.
I see that they have free drop in days (bookable on the home page) where ‘you can ask anything you want’ , my advioce is to go along and see them to make your own mind up and stop listening to uninformed rants.

It feel so much like a scam to use “other pitcher’s” money and borrow it to some one with the best plan.

Heck I’d do it!

I have had so many of these companies “schmooze” me until I thought I was going to get a meeting and then they drop the bomb about the “fees” for doing so…I have refused every single one of them, but it’s a time waster…

Even the websites available to network charge and I have refused most of these as well…as “they” say – you need an introduction — and that takes networking with the right people.

Anyway, we aren’t sure how much money goes to them and how much go to the angel investors. Are we able to confirm that these angel investors didn’t get a single cent?