NEW ORLEANS — The market for early-stage startup investment in Louisiana is stronger than it has been in years, according to Gulf South Angels Board Chairman Mike Eckert.
“I’ve been in the Gulf South for thirteen years and I’ve never seen it better,” said Eckert. “For available capital for early-stage companies in Louisiana, it’s really good right now.”
The former CEO of The Weather Channel, Eckert now serves as board chairman of Gulf South Angels, the region’s largest angel investor network. An investor for twenty-six years, he has also served as an adjunct professor and mentored founders through startup accelerators across the country. The organization connects accredited investors with early-stage companies across Louisiana and the broader Gulf South seeking capital and strategic guidance.
Through Gulf South Angels, Eckert and other members review a steady pipeline of new companies. In that role, he works directly with founders, evaluating investment opportunities and advising founders on how to make their companies fundable.
Mike Eckert: Helping Founders Become Fundable at NOEW
Eckert will share insights on what investors look for when evaluating startups during the panel “FundU Workshop: How to Make Your Startup Fundable” on the Founders Stage March 13 as part of New Orleans Entrepreneur Week (NOEW). The purpose of his session, he said, is to help founders better understand what makes a company attractive to investors.
“It's about providing guidance to the next generation,” Eckert said. “I’m giving back. Paying it forward. That’s what I do."
What Gulf South Angels Looks for in Startups
“We receive about 50 opportunities per month,” Eckert said. That steady pipeline gives Gulf South Angels members a broad view of how founders are approaching the market and the factors that separate promising startups from those that are not yet ready for investment.
“Market size, competition, product, competitive protection, understanding the financials, a growth model and an exit strategy — these are the things we look for."
Entrepreneurial Discipline
Eckert said the investment environment has recently shifted toward greater founder discipline as investors place more emphasis on financial planning and execution.
“We’re seeing a slight shift more towards discipline,” he said, noting that entrepreneurs need to be able to demonstrate a clear understanding of how they will manage the capital invested in their company so it does not run out quickly. “Not all entrepreneurs have that skillset.”
Financial discipline is another key consideration. Startups must understand the true cost of producing their product or service, price it accordingly and develop a realistic operating budget.
“You would be surprised how many people don’t know this,” Eckert said. “We help them with that and can help them develop their first budget.”
Operational planning also plays a role in investment decisions, including manufacturing details, supply chain considerations such as tariffs, regulatory approvals like FDA clearance and intellectual property protections.
“If they don’t have this information, that exacerbates the risk of the company and probably precludes us from investing in them,” Eckert said.
Knowing the Market
Gulf South Angels investors want to see clear evidence that a company understands the market it is entering and the problem it aims to solve. That includes demonstrating the size of the market and how many potential customers face the problem the product or service addresses.
Before investing, Gulf South Angels also looks for signs that founders have validated their idea with real customers. Eckert said that process typically involves speaking with at least 50 potential users to test whether the solution resonates in the marketplace.
Understanding the competitive landscape is equally important. “The worst thing they can say is that they don’t have any competition,” Eckert said.
Vision
Investors also expect founders to have a clear vision for the company’s long-term trajectory, whether that means being acquired by a larger company, merging with another firm to scale or eventually pursuing an initial public offering.
“If an entrepreneur hasn’t thought about where they’re going, it’s worrying,” Eckert said.
Honest and Coachable
“Honesty and credibility are also a big deal for us,” Eckert said, adding that if founders pretend to know something they don't, or worse, if they lie about it, Gulf South Angels members will know. “We have 170 members in 19 states so we are one of the largest in the country,” Eckert said. “We are highly experienced."
Eckert said another feature Gulf South Angels looks for in entrepreneurs is coachability. "We prefer to invest in entrepreneurs who are willing to learn and listen," he said. "We can help them grow and become a lot better.”
Smart Use of Technology
Beyond the business fundamentals, Eckert said broader technology trends are also shaping where investors are focusing their attention, particularly in how artificial intelligence is being used.
“Climate tech and environmental tech are significant emerging categories for us,” he said. “We also invest heavily in healthcare, biotech and new ideas to help extend and save lives. AI is creating improvements in the operating room as well as in medical diagnosis.”
With decades of experience evaluating startups, Eckert said helping founders understand these fundamentals is exactly the kind of guidance he hopes to share with entrepreneurs at NOEW.
