Suggestion for Entrepreneurs: How to Get the Favor of Angel Investors: the Empirical Evidence from China

In the background of "public entrepreneurship" and "public innovation", how to get the favor of angel investors is the most important problem which entrepreneurs face. In this research, 150 questionnaires are distributed to Chinese angel investors. According to the data collected, four basic hypotheses are put forward. From the three aspects of project's potential, team capability and speaking skills, we try to show the decision-making process of Chinese angel investors to select entrepreneurs prove the presence and importance of the initial screening phase. The results of the study show: in the decision-making process of Chinese angel investors, the overall score of project in initial screening phase is positively correlated with obtaining angel investment; in the initial screening phase,, the entrepreneur's speaking ability is the most important factor which is positively correlated with passing the initial screening phase, followed by team ability, project's potential; in the subsequent assessment phase, the project's potential is the most important factor which is positively correlated with obtaining angel investment, followed by team ability. This shows that Chinese angel investors have different investment criteria in different phases of investment decision.