Lawyers and accountants who belong to the forum provide discounted services or sometimes work for stock options. The Japan chapter of the International Angel Investors Institute, which supports angel groups around the world, co-sponsors the meetings and offers separate courses on how to be an angel investor. Iura is also taking his investment model nationwide by organizing forums for bands of angels in Yokohama and Osaka. Still, veteran angel investors like Allen Miner, founder of the Japanese incubator SunBridge, reckons it will take years before grassroots efforts like Iura's turn Tokyo into a Far East Silicon Alley. The conditions still aren't conducive for investors or entrepreneurs.
Stock options are a rarity in Japan.
Onerous listing criteria also make it extremely difficult for young companies to go public. And Iura and his fledgling group think angel investing at least gives them a chance of earning lucrative returns they'll never get from a Japanese savings account. Bid on or offer business services Web design, logo design, computer consulting, and more. Business Week Online may receive a share of any fees you pay for services. The McGraw-Hill Companies Inc. All rights reserved.