IrishAngels Take Care of Business
By Jennifer Warfel Juszkiewicz ’09 M.A., NDAA Staff Writer

Notre Dame’s Mendoza College of Business jumped in the Business Week rankings this year; it is now second among the nation’s top undergraduate programs. There are multiple keys to this success, but one of the newest and most successful has been the IrishAngels network.

IrishAngels is a select, private group of Notre Dame alumni and friends experienced in entrepreneurial endeavors and interested in supporting new venture development. The group has two objectives: education and investment.

Education has remained the group’s first priority, and the IrishAngels provide valuable marketplace experience for the students in the Mendoza College of Business who hope to start new ventures. Members are often on hand to visit classrooms and answer questions from the students; some even serve as visiting or full-time professors. The group also has facilitated internships for the students during the summer months. But perhaps the biggest benefit to the students has been the reliable presence of the IrishAngels on campus and as active members of the Mendoza network.

Each of the 269 members has Accredited Investor Status, meaning each IrishAngel has federal permission to engage in higher risk investments, such as limited partnerships and hedge funds. In addition, all IrishAngels have experience in either starting or managing entrepreneurial-oriented ventures, or in supporting new business development.

IrishAngels began in 2000 as a mentoring program—a resource for participants in the Gigot Business Plan Competitions. The annual competitions allow Notre Dame students and alumni to create business plans and compete for a grand prize of $15,000. This year, 146 IrishAngels served as judges and mentors to the competition. The mentors were on hand for the participants during the months leading up the presentation, offering constructive criticism and encouragement throughout the process.

As judges, the IrishAngels listened to and scored the presentations. “Their participation is crucial to ensure that our students and alumni have a positive experience,” says Karen Slaggert, program manager for the Gigot Center. “Those who volunteer at the competition are always eager to participate again the next year.” (Learn more about the business plan competition).

John Anthony ’86, CEO of Anthony Travel, became an IrishAngel through his involvement with the Business Plan Competition.The IrishAngel experience he most values was the time he spent mentoring Daniela Papi '00, founder of Protect the Earth, Protect Yourself (PEPY) Rides, an educational nongovernmental organization funded through responsible tour directors that use tours as a way to support educational and social improvement projects in rural Cambodia.

PEPY Rides won the 2006 ND Business Plan Competition, and Anthony stayed connected to Papi and her organization after his mentoring duties ceased.

“Getting to meet Daniela Papi, taking my family to Cambodia on one of the PEPY trips–that was the most tangible benefit of being an IrishAngel for me, even more than any investment opportunities I have had,” says Anthony.

Looking forward, IrishAngels network members will play a crucial support role at Innovation Park at Notre Dame, which is currently under construction near the south end of campus. Innovation Park will connect innovators, market experts, and capital providers, streamlining the idea-to-marketplace process. IrishAngels will be critical resources for Park clients, providing knowledge, contacts, and resources for gathering market intelligence, building out management teams, and supporting advisory and investment activities. 

“IrishAngels members provide a backbone of expertise across industries and business models that can dramatically accelerate a venture’s path to market,” says Theresa Sedlack, Innovation Park’s private sector engagement director. 

Each year, the IrishAngels participate in a Fall Investment Forum, which is a collaboration between the IrishAngels, ND’s Gigot Center, and Fish Taco Ventures—a company that facilitates marketplace access for promising new ventures within the ND community. The Forum is an annual showcase for the presentation of attractive investment opportunities in the Notre Dame network. Planning for the 2009 event is currently underway

Since membership in IrishAngels is by invitation only and is carefully restricted to those who have a connection to Notre Dame, many IrishAngels find their way into the program through word of mouth from current members. To learn how you can become a member, or for more information on the program, visit the official website.